The summary of this whole page is:

If an ABN is older than 2 years, 90% of the time, it “should” be right for up to $150,000.

<aside> 🤝 We are brokers, so the approvals are not issued directly from us. Lenders provide us with their approval criteria and we find the best match for the customer.

</aside>

A more specific answer

• Most commercial approvals are issued without looking at financials, this is called a low-doc approval.
• The maximum we can approve through a low-doc approval is $150,000.
• Low doc approvals are based on the customer’s profile. Things that can be easily determined without the need for financials. These are referred to as parameters.
• Size of loan & ABN age is by far the most important parameters.
• In most cases, we need the ABN to be older than 2 years.
• Apart from ABN age, the most common parameters include:
  • Property ownership status (any address).
  • Property ownership status (installation address).
  • Credit score.
• Less common parameters include:
  • Term.
  • ABN type.
  • There are many more, but as you go down the list, it gets less and less important.
• Since there are literally 100s of combinations of approvals, it does not make sense to list them out one by one.
• Instead to summarise: If an ABN is older than 2 years, 90% of the time, it “should” be right for up to $150,000. Furthermore, the larger the loan is, the more likely it is that we will require the customer to own property.

Alternatives: Easy Doc & Full Doc

• 95% of our approvals are issued through Low Doc, but if a customer does not fit the criteria, there are two other options we can consider, Easy Doc & Full Doc.

Easy Doc

• Rather than getting full financials, a middle ground is to obtain bank statements. This is referred to as Easy Doc.
• We can’t accept paper statements and require an online connection. Click here for more details.
• Usually we use this approval if the customer’s ABN age is in between 1-2 years.