No Doc Business Loans in Australia
Low doc business loans are flexible financial solutions for business owners and ABN holders in Australia who would otherwise face a long, arduous, and complex application process to only potentially receive their requested funds. With opportunities to borrow up to $20M, businesses and entrepreneurs of every shape, stage, and size have worked with LSMM to support their organisational needs.
Get started with your low doc business loanLow doc business loans Australia – solving your financial challenges
If you’re thinking about starting a business or acquiring a company, but don’t want to take on the time and costs of applying for funding, you might consider applying for a no doc business loan in Australia to kickstart your growth.
This kind of arrangement has proven popular with small to medium-size businesses, entrepreneurs, sole traders, and self-employed individuals, as it allows them to quickly access finance without having to provide detailed financial information.
Dreading the wait? It has never been easier to get a fast approval, thanks to the team of non-bank lenders at Lightspeed. From streamlined paperwork to fast response and funding times, our team makes it easier to access capital when you need it.
Low rates – low doc commercial loans across Australia
No doc business loans are used when an individual or business owner cannot provide sufficient paperwork or supporting financial documentation to qualify for a traditional advance.
They’re different from other arrangements, as they require much less paperwork to qualify for approval, making them a highly attractive and convenient financial solution.
Low doc business loans – fact sheet
| Suitable for | Start-ups · Established business owners · Commercial property investors · Bad credit history |
|---|---|
| Pre-approval time | 1 to 2 hours |
| Settlement time | 1 to 3 days |
| Loan term | 1 to 36 months (including term extension) |
| Flexible repayment | We can design a repayment plan that fits your cash flow – periodical (e.g. monthly), a lump sum, or a combination of your choosing. To ease your commitment and allow maximum flexibility, a loan term extension may be available. |
| Indicative loan amount | $50,000 + |
| Asset eligibility criteria | Real estate property (mortgaged OK) |
| Financial statement | Optional |
| Dedicated account manager | Yes |
| Tax deductible | Yes |
| Line of credit | Available |
| Interest rate | From as low as 1.50% per month. We’re confident our rate is among the lowest in the market – if you find a lower rate, let us know and we will try to beat it. |
| Save interest | Pay off the loan early; extra repayments lower the balance |
*Information provided on this fact sheet is for reference only, as we can tailor products to your requirements. Please contact us for further information.
The ins and outs of no doc business loans in Australia
Low doc business loans are designed for business owners, self-employed people, and those who have faced financial difficulties in the past and may have a low credit score. As an alternative to securing funding from a traditional lender, private lenders who follow a different model of borrower assessment criteria support business owners who need access to sufficient capital for commercial reasons.
For our commercial customers, no-to-low doc loans can help business owners meet short term company goals, provide much needed cash flow, or help fund a growth and expansion strategy.
What is a low doc commercial loan?
A low doc commercial loan is designed for business owners and organisations who would otherwise be challenged accessing sufficient funding for their business needs. From ATO debt repayment to financing commercial property, low documentation commercial loans are designed to be fast to apply for and fast to fund.
They suit applicants who need quick capital, and people who have faced financial hardship in the past or have a low credit score – meaning they would likely not submit to a large lender for fear of their application being rejected. A fast and efficient solution for startups, cash-strapped companies, and sole traders alike, funding received can be used to expand business operations or repay debts owed before they accrue.
If I’m self-employed, can I get a low doc commercial loan in Australia?
Yes – self-employed people are some of the most common applicants the Lightspeed Mortgage Management team works with for no doc business loans in Australia. With less paperwork required per application, a faster turnaround time, and less professional support needed from accountants and bookkeepers, candidates can apply on their own, receive a response from our expert team, and receive the funding in a fraction of the time of a traditional bank.
What is needed to qualify for a no doc business loan in Australia?
In short, not a lot. Because we specialise in working with applicants who would traditionally require significant paperwork from mainstream lenders, we’ve ensured the eligibility and application process can be turned around fast. A few things worth knowing:
- Low doc loans are considered unsecured loans
- Self-employment is not an impediment to getting a loan
- Previous financial challenges or low credit scores don’t affect an applicant’s ability to get funding
We specialise in working with commercial borrowers who can show a proven strategy and a good work ethic to pay the loan back. Supporting commercial clients Australia-wide, our team can discuss your unique situation and walk you through the limited application process today.
Does Lightspeed Mortgage Management provide low doc business loans?
Yes. Lightspeed Mortgage Management works with clients Australia-wide to provide capital when they need it most. With a streamlined application process and flexible criteria for most applicants, we specialise in working with applicants who would otherwise avoid applying for funding from the major banks.
With the opportunity to secure your loan with existing assets, or opt for an unsecured, no-collateral loan, we tailor solutions to meet your unique needs.
What can I use a low doc commercial loan for?
The possibilities are endless. If you’re a business owner, part of a commercial team, or starting a new venture, some of the more common reasons people secure low doc business loans include:
- Upfront capital for starting a new business
- Supporting business growth and pursuing expansion opportunities
- Restocking supplies, purchasing capital equipment, buying upfront inventory
- Repayment plans for ATO debts
- Commercial property acquisition
- Supporting short-term cash flow needs
Low doc business loans for ABN holders in Australia
Low doc business loans are available to people with registered businesses in Australia operating under an ABN or ACN, or those intending to and able to show they are planning to apply for either. Because this type of loan is available for commercial purposes alone, the funds must be wholly used for business expenses and operations.
Can I get a low doc business loan without an ABN?
Because of the few documents and streamlined application process needed for low doc loans, new ventures have no need to provide historic sales showing regular income, or a loan deposit to secure the funding. For customers with no historic trading record or startup capital available to fund the loan, no doc services are a great way to get your business started.
Traditional lending criteria for no doc business loans in Australia
The most important aspect of your application is proof of your ability to meet serviceability requirements. While there is minimal paperwork to be done, low doc commercial loans across Australia still require you to provide information such as:
- Your ABN for a GST-registered business
- Business Activity Statements (BAS)
- Your income statements for the past 2 or 3 years
- Proof you have been operating for at least 6 months
- Proof of Australian citizenship or permanent residency
- A letter from your accountant
We do not prejudice historical bankruptcy.
Top features of a no doc business loan
- Interest accrued on the loan may be a tax deduction
- Loans can be secured by assets, or unsecured with no collateral
- Access to fast capital for new business owners
- Competitive low interest rates to make repayment plans accessible
FAQs about low doc business loans
Low doc business loans with Lightspeed Mortgage Management
Lightspeed Mortgage Management is one of Australia’s private lending teams offering commercial clients low doc business loans. Providing a quick, effective, and easy way to access capital when you need it most, our expert team has worked with clients from every industry and financial background to help them meet their needs.
If you’re interested in discussing your unique situation or want to kickstart a no doc business loan application, get in touch with the team today.
Start the process today
Private lenders, including LSMM, are able to provide low doc business loans in Australia to non-traditional customers because of the streamlined application process and the alternative assessment tools used to review borrowers. It’s a faster, more efficient process for lenders and borrowers alike.
Request a call back 1300 133 406This product pairs naturally with our caveat loans and corporate/business finance.