Low Doc for ABNs Under 2 Years

Low doc loan for ABNs under 2 years

There are some lenders who offer low doc loans for businesses owners, the self-employed or other people who hold an ABN even though their ABN has been registered for less than 2 years.

In general terms, most Lenders prefer businesses to have been trading for at least 2 years as this gives them a better understanding of your business and its viability/profitability, but getting a low doc loan with an ABN is a possibility.

What loan options are available?

Even if you have been newly self-employed with an ABN under 2 years, you could be able to get a home loan. In some cases, this can also be done for the following purposes:

  1. Purchase home
  2. Refinance
  3. Cash out or equity release
  4. Business loan
  5. Commercial property loan
  6. Equipment Finance
  7. Bad Credit Loan

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Do you need an ABN for a low doc loan?

In order to qualify for a low doc loan, lenders require you to have an Australian Business Number (ABN) in order to prove you are self-employed. Most lenders will check the ABN history by looking up the ABN via the Australian government ABN Lookup portal.

Do I need to be registered for GST to qualify?

In most cases you will need to be registered for GST to qualify for a low doc loan with ABN under 2 years.

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What do lenders look for?

Lenders will be looking for your ability to repay any finance when considering a low doc loan application with an ABN under 2 years old. They will also be looking at securing their position with a LVR of 80% or under.

What is the minimum age of the ABN a funder will accept?

There are a few funders that will accept a low doc loan for a borrower with a 1 day ABN! We have access to the best lenders so that yoyou can get a loan with:

  1. 1 day ABN
  2. 3 months ABN
  3. 6 Months ABN
  4. 1 Year ABN
  5. Above 1 year ABN

If your ABN is less than 2 years old and think a low-doc loan could be suitable for you or your business contact one of our experienced brokers today.