Business Finance Eligibility
For business owners who want to know where they stand before applying for vehicle or equipment finance. Tell us about your business and what you want to finance, and we'll pass your enquiry to a licensed finance broker who works with a range of lenders. It takes about 60 seconds and there's no credit check to enquire.
- No credit check to enquire
- Free to enquire, with no obligation to go ahead
- A licensed broker calls you, usually within one business day
Check my eligibility
About 60 seconds. No credit check to enquire.
Who we help
- Sole traders, partnerships, companies and trusts: financing vehicles, trailers or equipment for the business
- Businesses under two years old: where trading history is the main question
- Owners with lodgements behind: BAS or tax returns not yet up to date
- Owners with a credit blemish: a past default or missed payments on a personal or business file
- Businesses with an ATO debt: particularly where it's on a payment plan
- Non-property owners: who don't have a home to strengthen the application
What lenders check
| Factor | Why it matters | What helps |
|---|---|---|
| ABN age | A longer trading history shows the business is established | Newer ABNs may need industry experience, a deposit or property ownership to compensate |
| GST registration | Some products require it, and it's a rough signal of turnover | Registration is required once turnover reaches $75,000 |
| BAS | Shows actual turnover and whether you're up to date with the ATO | Lodged on time, with turnover that supports the repayments |
| Credit file | Defaults, missed payments and recent enquiries signal risk | Paid or explained defaults, and not making lots of applications at once |
| ATO debt | Lenders see unpaid tax as a competing priority | A payment plan that's being kept to |
| Property ownership | Owners are often treated as lower risk ("asset-backed") | Equity isn't needed as security, but ownership often widens options |
| The asset | It secures the loan, so its age, type and resale value matter | Newer assets, dealer sales and a sensible deposit or trade-in |
For companies and trusts, the directors' or trustees' personal credit files are usually checked too, because they're normally asked to guarantee the loan.
A quick self-check before you enquire
- Your ABN: confirm it's active and when it was registered on ABN Lookup.
- Lodgements: are your BAS and tax returns up to date? If not, know roughly when they will be.
- Your credit report: you can get a free copy from the credit reporting bodies. Moneysmart explains how. Defaults stay on your file for five years even once paid, though the paid status is shown.
- The asset: know what you want, the price, whether it's new or used, and how much of its use is for business.
- Your deposit or trade-in: not having one isn't always a deal-breaker, but it changes which lenders fit.
Business-purpose loans are generally outside the National Consumer Credit Protection Act, but lenders still assess whether the business can afford the repayments.
How it works
- Tell us about your business and what you want to finance in the short form below.
- A licensed broker calls you, usually within one business day, to talk through your options.
- If it suits you, they handle the application with a lender that fits your circumstances.
What you'll usually need
- Photo ID for each owner, director or trustee
- ABN and GST registration details, plus company or trust details if relevant
- Recent BAS and business bank statements
- Tax returns and financial statements if you have them (full doc), or an accountant's letter (low doc)
- Details of the asset: price, year, and supplier invoice or seller details
- A list of existing business and personal debts, including any ATO payment plan
Every lender has its own criteria, so your broker will tell you exactly what's needed for your situation.
Business eligibility guides
- How long do you need an ABN to get car finance?
- Is GST registration required for ABN car finance?
- What documents do you need for ABN car finance?
- Do ABN car loans require personal guarantees?
- Can you pre-qualify for ABN car finance?
- Low doc car loans for startups
- How a failed business affects car finance
- Small business car loans
Common questions
Can a brand new business get finance?
Sometimes. Startups have fewer options, but some lenders consider new ABNs where the owner has experience in the same industry, owns property, can put down a deposit or has a strong credit file.
Does my personal credit file affect a business application?
Usually, yes. For sole traders the business and the person are the same, and for companies and trusts the directors or trustees normally guarantee the loan, so their personal credit history is checked.
Do I need to own property to qualify?
No. Property ownership often widens your options and can reduce the documents needed, but many lenders finance business vehicles and equipment for people who rent.
My latest BAS shows a dip in turnover. Will that be a problem?
It depends on the reason and the overall trend. A seasonal or one-off dip is common and can be explained. Lenders look at whether the business can still comfortably afford the repayments.
Can I find out if I'm eligible without a credit check?
Yes, as a first step. Our enquiry form isn't a credit application, and the broker can give you an initial view of your options. A credit check only happens if you choose to go ahead with an application.