Discover how low doc commercial loans could be the answer
No doc business loans are used when an individual or business owner cannot provide sufficient paperwork or supporting financial documentation to qualify for a traditional advance.
They’re different from other arrangements, as they require much less paperwork to qualify for approval, making them a highly attractive and convenient financial solution.
The unbeatable benefits of no doc business loans
There are all sorts of reasons why you might apply for a no doc or low doc business loan. Australia offers several financing options on the market, but this type of financial support means the applicant is guaranteed one thing for certain: they provide all kinds of benefits for your company. When you are approved for a loan like this, you unlock:
- Access to vital cash flow when you can’t produce financial records
- Limited or minimal paperwork and supporting documentation for approval
- Ability to borrow anywhere from $50,000 to $1M – or greater amount POA*
- The option for fixed or adjustable rates
- A streamlined process
- Use in a wide range of purposes
- Various repayment options to suit your budget and lifestyle
Having access to this line of finance will enable you to take advantage of all kinds of opportunities, including:
- Use the funds to quickly buy time-sensitive stock or equipment before it runs out. This can help to give your company its edge
- Employ and hire new staff to grow your business including renovations
- Move to larger, more prominent premises to really put your company on the map
- Balance seasonal cash flow
- You might be able to buy out your competitors.
Here at Lightspeed, we’ll sit down with you and work together to find a financial product or solution that works for you. Speak to one of our consultants to see how we can get your business open and moving forward.
Understanding your eligibility
The most important aspect of your application is proof of your ability to meet serviceability abilities. While there is minimal paperwork to be done, low doc commercial loans still require you to provide information such as:
- Your ABN for a GST-registered business
- Business Activity Statements (BAS)
- Your income statements for the past 2 or 3 years
- Proof you have been operating for at least 6 months
- Proof of Australian citizenship or permanent residency
- A letter from your accountant.
- We do not prejudice historical bankruptcy
Of course, our friendly, professional team is here to help you as well if there’s anything you’re unsure of. We will also provide you with all the necessary steps required to ensure the best possible outcome.
When shopping around for the right finance solution, it’s important to do your homework first. If you’re planning to apply through a bank or another lending institution, the process will be more challenging, with the application process far more complicated.
Additionally, if you’re self-employed or work for a small business, there is no guarantee that your bank will approve you, and even if they do, it may not be possible to secure fast access to funds through this method.
Feeling overwhelmed? No problem. Our low doc business loan team is ready to assist you in choosing a solution that will tuck into your specific needs.
We’re fully independent of the banks, offering you a more streamlined service that’s designed to solve your finance needs. If you’re looking for quick access to cash when it’s needed most, this is your road to easy, secure finance. Plus, there’s zero need to wade through endless documentation and endure the long approval time — we have you covered we will work this all through with you – hold your hand and offer sound financial solutions.
Start the process today
Not sure where to start? Get in touch with the team at Lightspeed today to put your business on a brighter path for the future.
As one of Australia’s most-trusted private financial lenders, our consultants are all highly trained and here to help you take your enterprise to new heights.
When you need a reliable short-to-medium term finance solution, we are here to help you. Need a tailored option? Let us show you the best approach.