7 Key Qualifiers for Low Doc Finance Up to $500K

For many business owners, securing equipment or vehicle finance quickly—without mountains of paperwork—can be the difference between capitalizing on an opportunity or missing out. This is where low doc finance comes in, offering a streamlined solution for those who may not have up-to-date financials but still need fast access to funding.

But how do you qualify for low doc finance up to $500K? Here are the 7 key criteria that lenders typically look for:

1. Business Trading for a Minimum of 2 Years

Lenders usually require businesses to have been operational for at least two years. This demonstrates financial stability and provides a track record of consistent cash flow, which reassures lenders about your ability to meet repayments.

2. Ownership or Property Equity

Holding residential or commercial property can strengthen your application. Many lenders see property ownership as a sign of financial responsibility and may offer better terms to those who own property.

3. Deposit Requirement for Non-Property Owners

If you don’t own property, some lenders may require a deposit of up to 20% to secure financing. This helps offset the lender’s risk and increases the likelihood of approval.

4. ABN & GST Registration

To qualify, you’ll need a valid Australian Business Number (ABN) and GST registration. This confirms that your business is actively trading and meets the basic regulatory requirements.

5. Satisfactory Credit Bureau and ASIC Search

Lenders will review the credit history of all business directors. A strong credit score and a clean ASIC search indicate good financial management, making it easier to secure finance.

6. Acceptable Asset Types

Low doc finance is available for a variety of business-related assets, including:

• Vehicles – Cars, light commercial vehicles, and trucks

• Equipment – Forklifts, cranes, excavators, trailers, graders, dozers, agricultural machinery (e.g., tractors and harvesters) and more.

• Other business assets – Subject to lender approval.

7. Acceptable Asset Age

Lenders often have restrictions on the age of financed assets for low-doc funding:

• Vehicles and equipment should generally be no older than 5 years.

• That said, some exceptions do apply

Ready to Explore Your Finance Options?

If your business meets these criteria and you’re looking to finance vehicles or equipment, we can help! Contact us today to discuss your options and secure the funding you need—without the hassle of excessive paperwork.

Oliver Randles

Finance Broker