Getting Finance-Ready as a New Business

In your first two years of trading, lenders generally check the same four things. Get them ready before you apply, not after.

A new business doesn't need years of history to get finance - but it does help to know what a lender is actually going to look at, so you're not caught out mid-application. Here's what matters, and how to prepare.

The four things lenders check

Lenders assessing a newer business generally look at four things: your ABN registration date, your GST registration and turnover, your trading history, and your director's personal credit file and assets.

1. ABN registration date

How long your ABN has been registered is one of the first things a lender checks - it's a simple, verifiable signal of how long you've actually been operating. If your ABN is very recent, some lenders will want more from the other three factors to balance it out. Make sure your ABN details (business name, address, structure) are accurate and up to date before you apply.

2. GST registration and turnover

Whether you're registered for GST, and what your turnover looks like, tells a lender about the scale and consistency of your trading. If you're approaching or over the $75,000 GST registration threshold and haven't registered yet, sort that out before you apply - a lender may see it as a sign your records aren't fully in order. Have your BAS lodgements ready to show if asked.

3. Trading history

Even a short trading history helps, especially if it's consistent. Lenders want to see a pattern - regular income, sensible expenses, no major gaps - rather than a long history for its own sake. Bank statements and accounting software reports covering your trading period are usually the easiest way to show this.

4. Director's personal credit file and assets

For a newer business, your personal financial position often carries more weight than it would for an established company, simply because the business hasn't built its own track record yet. Lenders may look at your personal credit file, other debts, and assets. Check your own credit file before you apply, so you know what a lender will see and can address anything that needs explaining.

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What this looks like in practice

Imagine a business eight months into trading, wanting to finance a second vehicle.

This is a hypothetical example, not a real client, but it's a realistic mix:

• ABN registered eight months ago - short, but verifiable and accurate
• Registered for GST as soon as turnover approached the threshold
• Eight months of consistent bank statements and accounting records, with no major gaps
• Director's personal credit file checked in advance - clean, with no surprises

None of these factors alone would get this business over the line with every lender. But together, they give a broker something solid to work with - and a genuine shot at lenders who are comfortable with a business this age, rather than an application that gets knocked back purely on time trading.

Some lenders specialise in newer businesses

Not every lender treats a new business the same way - some are built for it, others aren't.

This is the same idea we cover in Why Borrower Fit Beats Interest Rate →: the lowest advertised rate means nothing if the lender behind it doesn't work with businesses at your stage. Matching a new business to a lender who actually considers newer businesses matters more than chasing the lowest headline number.

Your prep checklist

Before you apply, get these ready:

1. Confirm your ABN details are accurate and up to date
2. Register for GST if your turnover requires it (or is approaching the threshold)
3. Gather 6-12 months of bank statements and trading records
4. Check your personal credit file before a lender does
5. Keep business and personal finances separate and easy to show
6. Have your BAS lodgements and accounting reports ready to provide

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Finance is subject to lender approval, lending criteria, terms, conditions, fees and charges. loan-o is a finance broker, not a lender. The information in this article is general and does not take into account your personal or business needs.

Last reviewed: 18 August 2026. This content provides general information only. It should not be treated as personal financial, tax, legal or credit advice.