Getting approved
Business loan documents checklist
Having these documents ready speeds up approval and helps you choose the right lender for your level of paperwork.
- Reviewed by
- Kama Atcheson, Business lending specialist
- Published
- Last reviewed
- Reading time
- 4 min read
Key takeaways
- Nearly every lender needs ID, ABN details and recent business bank statements.
- Larger or longer loans usually need financial statements, tax returns and an ATO statement.
- Secured loans need details of the security, such as rates notices or asset invoices.
Lenders ask for different documents depending on the product, amount and security. Use this checklist to get ready. Each product page shows the documents the lender publishes.
Almost always
- Photo ID for each director or guarantor (driver licence or passport)
- ABN and business details, including company or trust details if relevant
- Recent business bank statements, or access through a secure bank feed
- Details of the loan amount and what it is for
Often, especially for larger or longer loans
- Financial statements (profit and loss, balance sheet) for the last one or two years
- Business and personal tax returns
- Recent BAS
- ATO integrated client account or portal statement
- Management accounts or year-to-date figures
- Details of existing loans and facilities
For secured loans
- Property details, such as a recent rates notice or contract of sale
- Details of existing mortgages on the property
- Asset invoices or quotes for equipment or vehicle finance
For specific purposes
- Buying a business: sale contract, the target’s financials and any franchise agreement
- Invoice finance: aged receivables and payables reports and debtor details
- ATO debt: ATO statement and any payment plan details
- Short-term or bridging loans: evidence of the exit, such as a sale contract or refinance approval
Tips
- Keep business and personal banking separate.
- Get lodgements up to date, as many lenders check.
- Explain anything unusual up front, such as a one-off large deposit or a past default.
Ready? Compare options or get matched.
Questions about this topic
Can I apply without financial statements?
Yes, with some lenders. Many cashflow lenders assess bank statements only for smaller amounts, and low-doc lenders accept alternatives such as BAS.
Should I prepare documents before I apply?
Yes. Having them ready speeds up assessment and means you can respond quickly to lender questions.
