ABN Holder
How long does a business need to be trading?
The majority of lenders require your ABN to have been active for a minimum of two years however, under certain circumstances, some lenders will accept one year. This is based on circumstances such as strong cash flow and business continuance.
How fast can I get an ABN loan?
Quick funding depends on having all documents required by the lender ready to go for immediate assessment and approval. In certain circumstances, borrowers can receive unsecured funds within 24 hours. Borrowers after a secure loan for a vehicle or equipment can get funding as quickly as 24 to 48 hours.
What is the necessary documentation?
Generally speaking, you may need tax returns going back up to two years, and bank and other financial statements covering assets and liabilities. However, this will differ lender by lender and between each of the types of financing.