Registered your ABN recently? Lenders will treat you differently from an established business. That’s real, but it isn’t a blanket no. Plenty of newer businesses get finance approved every week. The trick is knowing what to offer instead of trading history, and which lenders work with newer businesses.
Why business age matters
A lender wants to know one thing: will this business make its repayments? Trading history is the clearest evidence. A business only a few months old hasn’t built that record yet, so lenders look for other evidence to fill the gap.
What you can offer instead
- Industry experience: years in the trade, even under someone else’s ABN.
- Work already secured: signed jobs or confirmed work ahead.
- A deposit: putting your own money in strengthens the application.
- Personal credit history: how you’ve managed your own finances.
- Property ownership: generally seen as a sign of stability.
- Clean bank statements: even a short run shows how money moves (see clean bank statements).
You don’t need all of them. The more you can show, the more lenders will take a look.
Not really new? Say so
A lot of new ABNs belong to tradespeople who were employees or sole traders and have just set up a company. A sparky who worked for someone else for five years isn’t starting from scratch. Spell that out in your application. More in new business vs established business finance.
Start with a mainstream asset
A ute, a trailer or a common excavator or skid steer model is easier to finance early on, because the lender has a clear resale market. Specialised or niche gear is a harder conversation for a newer business.
What to have ready
- Your ABN and GST registration details
- Photo ID for the owner or director
- Recent business (and sometimes personal) bank statements
- A quote or invoice for the asset
- Sometimes, a one-page summary: what you do, who your customers are, what work is lined up
Keep your ABN and GST registration continuous. Cancelling and re-registering can reset the history lenders look at.
What to expect, and how we help
With a newer ABN you’ll usually work with a smaller pool of lenders, and pricing may sit a little higher. A deposit can open up more options. With a panel of 40+ lenders, we know which ones consider newer businesses and which decline on the ABN date alone, so your deal goes straight to the ones who assess it on its merits.
It gets easier. At six, twelve, then twenty-four months of trading, the lender pool opens up and pricing tends to improve. Your first deal, repaid on time, becomes evidence for the next one.
Check the numbers on our machinery finance calculator or get a quote and we’ll take it from there.
Common questions
Does a new business always need a deposit?
Not always, but offering one can strengthen an application and may open up more lenders.
Can I get a chattel mortgage with a new ABN?
Yes. A chattel mortgage works the same for a new business, but fewer lenders will consider a new ABN and they’ll look harder at the rest of your application.
Do I need to be registered for GST?
Not always, but many lenders prefer it, and some use it to measure how established a business is. It also affects whether you can claim GST on the purchase.
Can a new business get low-doc finance?
Sometimes, but it’s harder. Low-doc usually leans on a trading track record, so a very new ABN needs other evidence, like industry experience, contracts or a deposit.
Ready to talk about your deal?