Low Doc Business Loans
Low Doc and No Doc business loans are for self-employed individuals and small businesses to access business finance without providing extensive financial statements. Low-doc business loans in Australia are alternatives to traditional business loans.
For a traditional business loan, you will need to provide tax returns from the previous two years, financial statements (including Balance Sheet, Income Statement, Cash Flow Statement) and proof of consistent income.
The low doc business loans are suitable for
- Start-ups
- Established business owner
- Commercial property investors
- Bad credit history
The easiest and most popular method to gain fast approval is by applying for a business loan through Low Doc Broker.
Low Doc Business Loans – Key Feature
- Borrow from $5,000 to $500,000
- Fixed or variable interest rates
- Repayments to suit your budget
- Terms from one month to five years
- Secured & unsecured options
Low Doc Business Loans Eligibility
- Own a business and have an ABN
- Business is GST-registered
- Permanent Citizenship or Residency
- Minimum business-operating time of six months
- Can provide business bank statements
FAQs about Low Doc Business Loans
What are most common low doc business loan used for?
Paying BAS or Tax Payments, restocking supplies, Buying equipment or machinery, Balancing seasonal cash flow, Employing new staff, Renovating your offices, covering unexpected costs or Buying a competitor business are the common used of low doc business loan.
What is the benefit of low doc business loan?
The benefit of a low doc business loan is that it provides businesses with quick financing, meaning they do not have to wait for the approval times from the regular banks. Unlike the loans offered by mainstream lenders, a low doc business loan requires limited financial statements or other trail documents that are used to determine financial history.
Is low doc business loan same as unsecured business loan?
No, a low doc business loan is a loan in which a business is provided finance without needing to provide full financial statements and other documents that indicate the financial background of the business. Whilst an unsecured business loan allows small business owners to obtain funding without the need of any backed-up security.