Documents, numbers and questions to have ready before you apply for a small business loan in Australia.
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Use this checklist before you approach a bank, non-bank lender or broker. Lenders assess the same things in a similar order: who the business is, whether its records are complete, whether the cash flow covers repayments, what security is offered, and who stands behind the loan.
Tick each item as you gather it. Applications with complete, consistent documents are usually processed faster, and you avoid a situation where a lender declines because of a missing BAS or an overdue lodgement rather than because of the business itself. Several declined applications in a short period may also be visible to later lenders when they check credit files.
How to use it: work through the business details and financial records first, then write the purpose and forecast. Check your tax position early: an unpaid ATO debt that is not on a payment arrangement is one of the most common reasons small business applications stall. Leave the guarantee and security items until you know what a lender will ask for, but get independent advice before you sign anything.
The application checklist guide explains each item and how full-doc and low-doc applications differ.
Worked Examples and Checklists
What Australian lenders ask for in a small business loan application, how full-doc and low-doc applications differ, and how to prepare so you are assessed on the business.
