No. A low doc business loan provides customers with upfront capital to help with cash flow or cover major intermittent expenses while upgrading equipment, expanding their business, or securing commercial property.

Private lenders, including LSMM, are able to provide no doc business loans in Australia to non-traditional customers because of the streamlined application process and alternative eligibility and criteria tools used to assess borrowers. A faster, more efficient process for both lenders and borrowers, low doc loans are excellent solutions for business owners who need access to short-term capital who may otherwise be ineligible for funding from mainstream banks.

For business owners who have faced previous financial difficulties, have a low credit score, limited access to credit or large sums of capital, or few to limited assets to secure funding, low doc commercial loans are a quick and effective means to access capital for commercial purposes. Helping owners secure needed equipment, property, labour, or repay outstanding debts, no doc loans have infinite potential for borrowers who fall outside of traditional lending criteria.

While a low doc loan may not need assets to secure a lending application, they are technically different financial instruments. A no doc business loan has limited need for detailed financial documentation for applicants to apply for and be approved for short-term funding. Unsecured business loans are those available to commercial borrowers who choose to borrow without securing existing assets against the loan. While some low doc loans may be unsecured, this is not the outcome in every situation.