Finance question
Can I get finance if my business is under 6 months old?
Often yes. A business under six months old can still get equipment finance because the asset secures the loan, not your trading history. Low-doc and no-doc options mean you do not need years of tax returns to be considered.
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The short answer
A short trading history is not a dead end
Most banks want two or three years of financials before they will fund a business, which shuts out anyone who has just started. Equipment finance works differently. Because the loan is secured by the asset you are buying, a lender can look at the machine and the deal rather than demand a long history you do not have yet.
New businesses are common in the asset-finance market. With 40+ lenders on the panel, some are comfortable with an ABN that is only a few months old, especially where the applicant has industry experience or a prior business. The job is to match a young business to the lenders that have appetite for it, rather than the ones that will decline on age alone.
Low-doc and no-doc structures are built for exactly this. Instead of full financials, a lender may look at your ABN, GST registration, a deposit or the equity in the asset itself. That is often enough to fund a first vehicle or first piece of machinery while the business is still finding its feet.
Do you qualify?
What a young business needs to be fundable.
An active ABN
Even a few months old can be enough with the right lender.
A specific asset
The vehicle or machine you are buying secures the loan.
Industry experience
Time in the trade before you started helps your case.
A deposit can help
Not always required, but it widens your options when new.
Why age matters less than the asset
The asset carries the risk
Security in the equipment offsets a short trading record.
Lenders differ on age
Some want years of history, others fund from month one.
Experience counts
A new ABN backed by real trade experience reads very differently.
A real example
A mobile mechanic four months into his own business needs a $38,000 fitted-out work van. No bank will touch a business that new. Placed with a lender that funds new ABNs on a low-doc basis, secured by the van and helped by his ten years as an employed mechanic, it was approved. Illustrative only.
Common questions
Frequently asked questions
Is there a minimum trading time to get equipment finance?
Some lenders set one, many do not. With a specific asset securing the loan, a business only a few months old can often still be funded.
Do I need financials if my business is brand new?
Often no. Low-doc and no-doc options let a lender assess the deal on your ABN, the asset and a deposit rather than full tax returns.
Does my experience before I started help?
Yes. Years in the trade as an employee gives a lender confidence even when the business itself is young.
Will a deposit improve my chances?
It can. A deposit lowers the lender's exposure and can open up more lenders when your business has little history.