There is no single rule for every lender
Eligibility depends on the proposed facility and the lender. Trading history, cash flow, credit position, outstanding liabilities and security can all affect an assessment. We do not publish invented minimum turnover figures or guarantee acceptance.
A viable business with sufficient repayment capacity is central to the discussion. A loan should not leave you unable to meet future taxes and everyday trading costs.
Useful documents to prepare
Requirements differ, but the following information can make the initial assessment more useful. Do not email identity documents or banking passwords in an initial enquiry.
- ABN and business structure.
- Recent business bank statements and financial information.
- ATO balance and details of any payment plan or notice.
- Existing lending and repayment commitments.
- Property or asset details if secured finance is considered.
A decline is not a reason to ignore the debt
If borrowing is not affordable or an application does not meet policy, discuss other options with your accountant and the ATO. Legal or insolvency advice may be needed if you face enforcement or viability concerns.
