FAQs

No. It is not a criteria to be GST registered for GST when applying for commercial credit.  

Where a venture does not have all the documents to meet bank or other lender guidelines, they may seek lenders and brokers that offer lite doc funding.

Yes. Commercial credit applications can be approved prior to the goods being selected or the purchase committed to.

Some lenders will approve no financials applications based on turnover figures for 6 months.

Prior to applying, lite doc applicants can use an online credit calculator to calculate estimated repayments.

Yes. Lite doc and no financials funding includes the relevant deductions as per the credit product selected.

No deposit funding is available on commercial credit subject to lender approval.

The key difference between no financials and lite doc is the amount of documents provided in the application. No implies no records while lite implies some are provided.

Yes. All types of vehicles can be funded with lite doc motor vehicle credit. That includes SUVs, utes, commercial vans and passenger cars.

A balloon is available on Chattel Mortgage and CHP lite doc credit.

Without financials funding may be used to fund trucks, motor vehicles, plant, machinery and equipment.

Yes. When approved for commercial credit, operators can select from Leasing, Chattel Mortgage, Rent-to-Own and Hire Purchase to fund trucks.

To apply for lite doc funding, applications must have an ABN and provide what financial records and documents on the trading and status of the operation.

Yes. All types of commercial operations can apply for lite doc credit as long as they have an ABN.

Doc is the abbreviation for documents as used by the lending sector. It refers to financial records of an entity.