Declined by your bank?

Banks often have fixed rules about how long you’ve been in business, what documents you have, your credit history, and the age of the asset. If your business sits outside one of those rules, the answer can be no even when the business is trading well.

Specialist lenders have different rules. We arrange finance for business use, for ABN holders, with a panel of these lenders.

Common reasons a bank says no

• Your ABN is under two years old. Some lenders consider newer businesses, often with conditions. → New ABN finance
• Your financials aren’t done or don’t reflect today. Low doc lenders may work from BAS, bank statements or a signed declaration. → Low doc finance
• Something on your credit file. Some lenders consider past defaults or judgments case by case. → Past credit issues
• You’re buying from a private seller. Some lenders finance private sales, usually with an inspection. → Private sale finance
• The asset is older. Some lenders go further on asset age than a bank, usually at a higher cost.
• You need working capital, not an asset. Some lenders offer short-term business loans based on your trading account.

What we do

1. Ask what happened. If you know why the bank said no, tell us. If you don’t, that’s fine too.
2. Look at the whole picture. The business, how it’s trading, the asset, and your history, not only a score.
3. If a lender on our panel is likely to consider it, we’ll explain what they’ll want to see.

The lender assesses every application and makes the decision. Specialist lenders often charge more than a bank. Before you sign anything, we tell you in writing the lender, the rate, the repayment, any fee we charge and the commission we receive, in dollars.

Before you borrow more

If your business is struggling with debt, the free Small Business Debt Helpline (1800 413 828, sbdh.org.au) can help before you take on more.

Is this for you?

This page is about business-use finance for ABN holders. If you were declined for a personal loan or a car for personal use: we don’t arrange these, but we can refer you to a trusted partner.

Tell us what happened Apply now