FAQs

For self-employed individuals or small businesses who have a reduced amount of documentation available, securing a commercial loan can be daunting. However, low doc commercial loans may provide a good solution to this problem. For a low doc loan, borrowers will be required to provide their Australian Business Number (ABN), GST registration, proof of Australian citizenship, and evidence that they will be able to repay the loan (this can include a letter from an accountant or any business activity statements).

By using a commercial loan broker when undertaking the process of securing a low doc loan, you will essentially receive a matchmaker between your business and a lender. Commercial loan brokers do the hard work for you by comparing the large range of financing products in the lending market to find the best option for you and your financial circumstances. Brokers take away the burden and stress of searching the market and can help save a borrower time as well as secure a lower interest rate.

Sourcing finance for some businesses can be a challenge, especially when not all businesses can meet the guidelines and stringent loan requirements which are set by banks and some private lenders. That’s why Jade Finance offers realistic pathways for businesses in these situations. We offer low doc loan services for a variety of purposes. For a low doc personal loan, the basic requirements you will need to qualify include:

• Proof of ABN and/or GST registration
• Business Activity Statements (BAS)
• Declaration of financial position via letter from accountant or business bank statements
• Most recent tax returns (if available)

Your credit score is a factor that reflects how risky you are as a potential borrower in the eyes of lenders. Much like with any loan application, applying for a low doc personal loan can cause a slight dip in your credit score. But overall it depends on how you go about applying for and paying off the personal loan. If you undertake the following steps, applying for a low doc personal loan could actually help your credit score.

• Consistently meeting repayments
• Consolidating debt

Things that could hurt your credit score by applying for a low doc personal loan include:

• Missing repayments
• Making too many credit applications
• Choosing a high-risk lender

By working out how much you can afford to borrow, looking for a good-value loan, and receiving expert advice prior to signing an agreement – you can reduce the impact to your credit score.

With Jade Finance, we offer seamless loan applications and fast-turnaround times. By using one of our expert brokers to secure your next low doc personal loan – you could receive same-day funds.

Low Doc Loans

• Require some documentation but substantially less than traditional loans. Can include bank statements, income statements, ABN, financial declaration.
• Higher interest rates to standard loans.
• Stricter repayment terms.
• Considered risky for lenders.

No Doc Loans

• Lenders don’t require any documentation to verify a borrower’s income, assets, or employment history.
• Large down payments.
• Higher interest rates to low doc.
• Considered risky for lenders.

If you have a well documented financial history and are seeking better loan terms, a full doc loan might be the best option. Consult with one of our Jade Finance Brokers to see what option is best for your specific financial circumstance.

Sourcing finance for some businesses can be a challenge, especially when not all businesses can meet the guidelines and stringent loan requirements which are set by banks and some private lenders. That’s why Jade Finance offers realistic pathways for businesses in these situations. We offer low doc loan services for a variety of purposes. For a low doc personal loan, the basic requirements you will need to qualify include

• Proof of ABN and/or GST registration.
• Business Activity Statements (BAS).
• Declaration of financial position via letter from accountant or business bank statements.
• Most recent tax returns (if available).