Can I get equipment finance with a brand new ABN?

Yes, in many cases. Lenders look at more than the ABN's age — industry experience, contracts in hand and personal credit history all count toward the picture they build of your ability to repay.

Does a new business always need a deposit?

Not always, but offering one can strengthen an application and may open up more lenders. It's worth discussing your specific situation with a broker before assuming either way.

What if I was a sole trader before I got my ABN?

That prior trading or employment history in the same industry is useful. Bring it to the conversation — it's evidence of capability even if it sits outside the current entity.

Is it easier to finance a ute or truck than specialised machinery with a new ABN?

Generally yes. Mainstream, easily resaleable assets are more straightforward for a wider range of lenders than specialised or niche equipment, which naturally narrows the field for any applicant.

Will finance get easier once my ABN turns one or two years old?

Typically yes. Once you have trading history, business bank statements and a track record of repayments, more lenders and options tend to open up.

Equipment finance with a new ABN (under 12 months)

If you registered your ABN recently and started looking at equipment finance with a new ABN, you’ve probably noticed the goalposts feel different to what a mate with an established business describes. That’s real, but it isn’t the full story — plenty of newer businesses get finance approved every week. The trick is knowing what to offer instead of trading history, and which lenders actually work with newer entities.

Why business age matters to lenders

When a lender looks at an application, they’re trying to answer one question: will this business make its repayments? Trading history is one of the clearest ways to answer that — a pattern of revenue, expenses and cash flow over time is hard evidence. A business that’s only a few months old on paper hasn’t had the chance to build that record yet, so lenders look for other evidence to fill the gap. That’s the whole story behind why “new ABN” gets treated differently — it’s not a blanket no, it’s a different assessment path.

Small business owner reviewing equipment quotes

What you can offer instead of trading history

A new ABN doesn’t mean you’re starting from zero. Lenders weigh a range of things alongside — or instead of — years on the books:

Industry experience — years working in the trade, even under someone else’s ABN, shows you understand the work and the cash cycle
A previous business or employment in the same field — a track record of paid work in the same industry carries weight
Contracts or work already secured — signed jobs or a pipeline of confirmed work is concrete evidence of income ahead
A deposit or equity — putting money into the deal yourself can strengthen the application
Personal credit history — how you’ve managed your own finances is part of the picture, especially early on
Property ownership — owning property is generally viewed as a sign of financial stability
Clean bank statements — even a short run of statements shows how money moves through the business day to day (see our guide on clean bank statements)

The more of these you can bring to the table, the stronger your position — you don’t need all of them, but the more boxes ticked, the more lenders are likely to take a look.

The “continuation” angle for tradespeople

A lot of new ABNs aren’t really new businesses at all — they’re a tradesperson who was an employee or a sole trader under a different structure and has just incorporated or restructured. If that’s you, this is worth spelling out clearly in your application. A sparky who worked for someone else for five years and just started their own company isn’t starting from scratch — they’re continuing a trade they already know, with income history that’s easy to explain even if it doesn’t sit under the current ABN. We’ve written more on how lenders weigh this kind of situation in new business vs established business finance — it’s worth a read if this sounds like your situation.

Which assets are easier to finance early on

The type of asset you’re financing matters almost as much as the age of your ABN. Mainstream, easily resaleable equipment — a ute, a trailer, a common excavator or skid steer model — is more straightforward, because if things went wrong the lender has a clear resale market to fall back on. Highly specialised or niche gear is a harder conversation for a newer business, simply because there are fewer buyers if it ever needed to be sold. If you’re deciding what to finance first, starting with something mainstream can make the whole process smoother while you build a track record.

Getting your paperwork in order

Having the right documents ready before you apply speeds everything up and helps a broker match you to the right lender the first time. Typically you’ll want:

Your ABN and GST registration details
Photo ID for the business owner or director
Recent business (and sometimes personal) bank statements
A quote or invoice for the asset you’re buying
In some cases, a short summary of the business — what you do, who your customers are, and what work you’ve got lined up

None of this needs to be polished or lengthy. A one-page summary of your trade background and current work is often enough to give a lender the context an ABN alone can’t provide.

Setting realistic expectations

It’s worth being upfront: with a newer ABN, you’ll typically be working with a smaller pool of lenders than an established business would, and pricing may sit a little higher to reflect the extra risk a lender is taking on. A deposit can help open up more options. None of this is a reason not to apply — it’s just the shape of the process, and it’s exactly the kind of thing a broker sorts out on your behalf rather than something you need to solve yourself.

How a broker finds the lenders that say yes

This is where working with a broker pays off. As a broker with access to a panel of 40+ lenders, we know which ones actually consider newer businesses and which ones will decline on the ABN date alone before looking at anything else. Rather than you applying lender by lender and collecting declines, we take your situation — industry background, the asset, any deposit, your credit history — straight to the lenders who actually assess deals like yours on their merits. As a credit representative, that’s the value we add: matching your real situation to the right door, not the first one you find.

It gets easier from here

The good news is that this stage doesn’t last. Once you’ve got six, twelve, then twenty-four months of trading behind you, business bank statements, and a repayment history if you’ve already financed something, the lender pool opens up and pricing tends to improve. Your first piece of equipment finance under a new ABN is often the hardest one to place — and once it’s settled and being repaid on time, it becomes evidence in its own right for the next purchase. If you’re ready to see what’s possible, you can check the numbers on our machinery finance calculator or get a quote and we’ll take it from there.