Low Doc Business Loans: Lo Doc Commercial Finance for Business and Self-employed People

low doc business loan

LET A FINANCE BROKER TAKE CARE OF YOUR LOW DOC BUSINESS LOAN SO YOU CAN RELAX!

low doc business loan

LOW DOC LOANS FOR BUSINESS AND SELF-EMPLOYED PEOPLE

A low doc business loan is a type of commercial loan/business finance that does not require the same financial statements and documents as traditional full documentation (full doc) loans.

 

However, low doc business loans can still offer competitive rates and flexible terms. Low doc business loans are practical and fast so that you can have access to funds without waiting for all the normal documents required for a full doc loan. Lo doc loans can help your business by providing the funds you need.

Low doc business loans are suitable for small businesses and self-employed people when they are unable to provide:

 

    • Tax returns
    • Financial statements
    • Proof of consistent income

 

Since many self-employed people and businesses don’t have the documents required for a full doc business loan, a low doc loan may be their only option. Get contacted by professional finance brokers who can arrange low doc business loans with competitive rates, fees and loan terms that suit your situation.

Yes, a qualified finance broker can assist with low doc business loans. Small business owners are prime candidates for low doc business finance especially when they are yet to complete their financials.

If you have all of the required documentation for a full doc business loan then the full doc loan may be a better alternative (than a lo doc loan) as the rates and overall package can be cheaper. Full doc loans are considered lower risk than low doc loans.

 

If you have:

 

    • Tax returns
    • Financial statements
    • Proof of consistent income

 

It may be better for you to apply for a full doc business loan.

Normally, the low doc finance application process is as follows:

 

    1. Call a reputable finance broker, you may contact them via phone, email or by completing a contact form, if they have a website.
    2. A finance broker will contact you to discuss your finance needs.
    3. They will review which loan or loans meet your needs and provide options for you.
    4. You decide which finance option you would like to take.
    5. They will help you complete a finance application including documents required (such as an income declaration form).

 

Some options will not require a credit check.

The documents required vary between lenders. The main documents that can be used to verify your income for a low doc commercial loan are:

 

    • An accountant’s letter verifying your income;
    • Recent Business Activity Statement (BAS);
    • Old tax returns;
    • Interim financial statements; and
    • Self-signed income declaration form.

Generally, professional finance brokers have access to a wide range of lenders and a wide range of low doc commercial loans. Being at the top of their game, they have access to the major banks as well as a wide range of non-bank lenders. This means that you get more choices and are more likely to find a low doc loan that meets your needs.

low doc business loan

ARE YOU A SMALL BUSINESS OWNER? GET A LOW DOC SMALL BUSINESS LOAN THAT MEETS YOUR NEEDS.

Low doc business loans

Are you looking for the right low doc business loan? Contact a finance professional to discuss your needs.

Franchise finance

Looking for finance for a franchise business? Find out about your franchise loan options.

Non-conforming business finance

Have you been rejected by the bank when applying for plant and equipment finance even though you have a strong financial position? You may still have options!

Self-employed home loans

Are you self-employed and looking for a home loan? Find out about home loans for self-employed people here:

Invoice finance | Debtor finance

Do you sell on credit? You may be able to lend against the value of the credit you provide your customers.

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