Business funding preparation checklist

Know what you need

What the money is for, in one sentence: working capital, stock, equipment, a fit-out, an ATO debt, buying a business.
The amount, including fees and any GST on a purchase.
When you need it by. Online lenders that read bank statements can decide in a day or two; banks and property-secured loans take longer because the lender orders a valuation.
The repayment the business can carry from its cash flow. Run it through the business loan calculator at more than one rate.
How you want to repay: a fixed term for a one-off cost, a line of credit for recurring gaps, invoice finance if cash is tied up in unpaid invoices.

Check what lenders check

How long your ABN has been active. Most lenders want 12 months, banks often two years, and a few online lenders write smaller amounts from four to six months of trading.
Your monthly turnover over the last six months. On 10 October 2026 online lenders published floors from about $6,000 to $12,000 a month.
Whether the business is registered for GST.
Each director’s credit file. Get your free credit reports from Equifax, Experian and illion before you apply, so nothing on them is a surprise.
Any ATO debt, with the portal statement or payment arrangement to hand.
Security you could offer, if any: property, or the asset being bought.

Documents: smaller loans from online lenders

Six months of business bank statements, often shared through a secure bank connection.
Your ABN or ACN.
Photo ID for each director.
Basic business details: industry, turnover and the purpose of the funds.

Documents: banks, larger or secured loans

Two years of business financial statements: profit and loss and balance sheet.
Two years of business and personal tax returns, with the ATO notices of assessment.
Your most recent BAS.
An ATO portal printout showing tax debts, or none.
Details of existing business debts and repayments.
Details of the security offered (property address, or the asset quote or invoice).
A short business plan, for a newer business or a larger loan.

Questions to ask the broker

Which lenders on your panel fit this, and why those?
What will it cost in total dollars, fees included? Business loans have no mandatory comparison rate.
Are repayments monthly, weekly or daily?
What security or director’s guarantee does the lender want?
Is there a fee for paying it off early?
How are you paid for this loan?

Where this comes from

Your Finance Guide is a finance education publisher. We are not a credit provider, broker, or lender, we do not hold an Australian Credit Licence, and we do not provide credit assistance. When you request a quote, your enquiry goes to a licensed broker who meets our criteria and compares rates from a panel of Australian lenders. Full details, including the licence we work in conjunction with, are in our Credit Guide.