Tax returns still with the accountant? Recent BAS and bank statements can be enough to fund the asset.
- Funding available within 2 business days through non-bank lenders, once the asset details and statements are in
- Loans from $20K to $1M for one asset or several bought together
- Sole traders, partnerships, companies and trusts with an active ABN, buying for business use
- Utes, vans, trucks, trailers, earthmoving plant, forklifts, and workshop, kitchen or practice equipment, new or used
- Full-doc (tax returns), low-doc or alt-doc (BAS, bank statements or an accountant's letter instead) options across our 90+ lender panel, with the focus on lighter paperwork
The business is trading, the asset is picked out, and the latest tax return is not lodged yet. That gap does not have to hold up the purchase. Low-doc asset finance funds a business vehicle or piece of equipment using paperwork you already keep: your ABN and GST registration, recent BAS, business bank statements and, where needed, a letter from your accountant. The asset is the security, so lenders look closely at what is being bought and at how the business is trading right now. In return for lighter paperwork, expect a slightly higher rate, a shorter list of lenders or a request for a deposit. Joseph Farhat and his team can look at the asset, the price and the documents on hand, and tell you which lenders are likely to accept them before anything is lodged.
Who we can help access finance
- A sole trader with several years on the same ABN, buying a replacement tipper while the last two tax returns are still being finalised.
- A landscaping business that grew fast this year, where the last lodged return shows far less income than the current BAS.
- A company director adding a second excavator for a new contract, with BAS lodged on time and the annual accounts not yet signed off.
- A mobile mechanic or electrician buying a fitted-out van, whose business account shows steady customer deposits every week.
- A cafe owner replacing a commercial oven and cool room after a breakdown, with a clean record of BAS lodgements for the past year.
- A business bidding on a forklift or a used truck at auction, needing finance confirmed before the payment deadline.
How Low-Doc Asset Finance Works
No law defines "low-doc" for business lending. Credit used wholly or predominantly for a business is outside the National Credit Code, so each lender writes its own documentation rules. In practice, lenders commonly ask for some mix of recent BAS (often 6 to 12 months), business bank statements, an accountant's letter or declaration of income, and the history of your ABN and GST registration. Many asset lenders accept less paperwork from established ABN holders, especially for smaller amounts and for mainstream assets such as vehicles, trucks and earthmoving machinery, which sell readily if the lender ever needs to recover them. Some lenders have simplified application limits, and above those limits they ask for full financials. Each lender draws that line in a different place.
Before signing, you confirm in a written declaration that the finance is wholly or predominantly for business purposes. Business loans are also outside the consumer responsible lending rules, so lenders set their own credit criteria, and we still check that the repayment suits your cash flow.
The documentation level changes which lenders will look at the file and how they price it. The loan structure is usually the same one a full-doc borrower would use: a chattel mortgage (a loan where the asset is the security), hire purchase (the lender owns the asset until the final payment) or a lease (you rent the asset for a set term). Your accountant confirms which structure and GST treatment suit the business, because we are a finance broker, not an accountant or tax adviser. Joseph Farhat and his team read your statements, match the asset and the documents to lenders from our panel of 90+ bank, non-bank, and specialist lenders, and manage the file until the seller is paid.
What Lenders Assess for Low-Doc Asset Finance
ABN and GST history
BAS lodgements
Bank statements
The asset
The amount against the simplified limit
Repayment record on other assets
Deposit or trade-in
The Low-Doc Asset Finance Process: What to Expect
- Tell Joseph Farhat and his team what you are buying, the price, who is selling it, and which documents you have today: BAS, bank statements, an accountant's letter or returns.
- We check those documents against lender policy before anything is lodged, and tell you whether low-doc suits the amount or whether full-doc would open a lower rate. Each credit enquiry is recorded on your file, so the first lender approached matters.
- The lender reviews the file, confirms the asset through the invoice or a seller check, and issues an approval showing the rate, term, any balloon (a lump sum due at the end of the term), fees and the total repayable. We go through each line with you before you sign.
- You sign the business-purpose declaration and loan documents. The lender pays the dealer or seller and registers its interest on the Personal Property Securities Register (PPSR), the national register of security over goods.
- The asset goes to work, and repayments start on the agreed date. Once your returns are lodged, the next purchase can be compared against full-doc pricing.
Indicative Finance Options
| Lender Type | Indicative Rate | Typical Loan Range | Loan Term | Deposit Required | Speed to Funding |
|---|---|---|---|---|---|
| Bank | From ~8% p.a. | $20K to $500K | 1 to 5 years | Often none on newer assets | 3 to 10 business days |
| Non-Bank Lenders | From ~10% p.a. | $20K to $1M | 1 to 7 years | None to 20% | Within 2 business days |
| Private Finance | Not typically used for low-doc asset finance. Available for unique scenarios only. | ||||
Indicative figures only. Actual rates and terms depend on your project, financial position, property location, and lender assessment at the time of application. Rates are subject to change.
