Sole Trader Loans

Lots of Aussies dream of being their own boss, and being a sole trader is super rewarding! But finding a sole trader loan that fits can be a real headache. Banks often have strict rules, making it hard to get loans for things like cars, heavy machinery, or day-to-day costs when you’re self-employed. We’re here to help! We’re experts in finding the right sole trader loans for your own business (ABNs), working with over 80 lenders to get you a deal that’s just right, ensuring loans are easy and affordable across all kinds of work.

Sole Trader Financing: Comprehensive Comparison Tool

more information

Why Jade Finance?

Apply Online

The easy application process provides you with comprehensive information. Make a fully informed decision on your commercial loan.

Get Pre-approval

Save time, money, and worry - Get Pre-Approval for your finance. You'll be good to go when you find your dream venture.

Business Loan Specialist

With over 25 years of experience in finance, we have a reputation for negotiating great rates with same-day approvals.
Request Quote

Compare Jade Finance Sole Trader Finance Rates

The business loan interest rate is critical to the monthly funding commitment and contributes to the overall cost of the vehicle, equipment, truck or credit purpose. The rate offered by a lender is determined by a number of factors, especially the financials of the business. Small, one-person businesses can be offered highly competitive rates especially when the right lender is found. Our current rates can be used to compare different options and a specific rate and quote can be obtained with a quick call to us.
Compare our Loan Interest Rates from 80+ Lenders

Types of Sole Trader Financing We Offer

ABN holders can require funding for a wide range of purposes and we provide options for motor vehicles, trucks, light commercial vans, equipment, plant and machinery and general commercial funding for cash flow support and other expenses. Every application is handled individually by one of our expert brokers who finds the right lender and the cheapest offer to suit the purpose and the operation. We also offer opportunities for new and start-up operators without financials.

Free Quote

Finance Equipment for Sole Traders

Funding options for plant and machinery and all the different types of equipment, new and used, that are used by commercial enterprises

ABN Car Finance

Funding options for utes, passenger cars, cab chassis, vans, wagons and other models.

Business Loans for Self-Employed Operators

Options to cover cash flow shortages and general expenditure with either a secured or an unsecured credit product.

Low Doc No Doc Sole Trader Finance

For new and start-up businesses that do not have full financials or meet all lender approval criteria.

Sole Trader Finance Solutions

As specialists in commercial funding, we provide self-employed operators with a complete selection of credit products. These include the full range of asset acquisition facilities and flexible options for other purposes. Fixed rates and workable, fixed terms are available and self-employed operators are entitled to all the relevant tax deductions.
Sole Trader Loans

How to Find the Right Sole Trader Finance with Our Brokers

There are a number of issues that can make it difficult for ABNs to secure the right funding. One is not having enough time and another is not having enough bargaining power. We assist with overcoming both those obstacles to affordable credit.

Time really is money for many one-person businesses. Every hour spent handling tasks that are not billable to a client is an hour with no income. The process of sourcing credit can be time-consuming and that can mean significant hours without income. Using our brokers to handle the task of finding the right funding enables ABNs to concentrate on their income-producing work.

We handle finding the right credit from the initial enquiry right through to settlement. Even one-person operations are assigned one of our highly experienced brokers and have the complete support of our extensive capabilities and resources.

Self-employed operators may feel empowered when it comes to running their own enterprise. But that rarely translates to having bargaining power with lenders. Negotiating with banks and lenders to get cheaper rates and more flexible terms and conditions requires the bargaining power that we have built-up over our 25+ years in the commercial lending market.

We use our bargaining power and our industry-level contacts to negotiate the right outcomes for every customer.

  • Expert, professional business loan brokers.
  • Australian-owned and operated brokers – nationwide services.
  • 25+ years experience.

80+ Lenders to Secure the Right Sole Trader Loans

The commercial lending market is vast with major banks, other banks and a large number of non-bank lenders providing funding for businesses. Lenders have their own guidelines for approving applications and setting interest rates, with significant variations across the market. Not all lenders offer credit to self-employed operators so finding the right lender can be a challenge.

We support ABNs to find the right lenders with our accreditations with over 80 lenders. Our lender panel includes the major banks, finance companies and non-bank lenders. Many of our non-bank lenders approve ABN credit with competitive rates and affordable solutions.

Many non-bank lenders do not provide services direct to businesses but only via selected brokers. We provide access to this section of the lending market to facilitate the opportunity to secure the right funding solution.

Our lender panel includes lenders that specialise in certain industries or certain assets such as heavy vehicles and machinery. This aspect can be significant in achieving better rates and conditions as these lenders have an in-depth understanding of the industry.

To get the right ABN credit, simply contact us and we will handle it for you.

  • 80+ Lenders – major banks, finance companies, non-bank lenders.
  • Lenders specialising in sole trader financing.
  • The right solution from the right lender.

Are You Eligible for Sole Trader Finance?

Owning your own business is possible under different commercial entity structures in Australia. Being self-employed may be operating with an ABN only. According to the corporate law in Australia, trading solo on this basis allows the operator to take on employees but not to ‘employ’ themselves. The owner has complete control over the operation.

An Australian Business Number (ABN) is required to apply for commercial funding. An ABN can be applied for through the Australian Government’s Australian Business Register. We have lenders that do approve credit applications for operators with new ABNs. So the time the ABN has been held would not determine eligibility to apply for credit. Subject to individual lender criteria.

Having GST registration to charge and claim GST, is not a mandatory requirement to be eligible for commercial funding. But it is mandatory for businesses with $75,000+ turnover. Some lenders do consider GST registration favourably when assessing applications.

In addition to these basic requirements, applicants will need to provide documentation in regard to the financial status of the operation. It is quite typical for the personal financials of ABNs to be reviewed as part of the application process. Individual lenders have their own guidelines in regard to the time an applicant has traded and may have minimum levels of turnover in order to approve applications. Where this documentation is not available or criteria not met, we do have lenders that offer No Doc and Low Doc options.

  • ABN mandatory
  • GST registration not mandatory
  • Without financials options available

Fast Approvals & Easy Sole Trader Loans Application Process

We make it easy for self-employed operators to get started on applying for credit. Simply use our online forms or speak with one of our brokers for a phone application. Having all your details ready, including what documentation is available, can assist us to expedite the process and get your application approved by the right lender quickly.

  • Online and phone applications.
  • Quick quotes, fast approvals.
  • 24 hour approvals.

Get the Right Solutions for Sole Trader Loans

Many Australians have the goal of working for themselves with their own set-up. In many industries, contractors and self-employed has become the norm. Working your way and running your own race can be quite empowering and rewarding. But it when it comes to sourcing and negotiating credit for the operation, many self-employed individuals can find that power eludes them.

Banks and lenders have their own credit guidelines and many ABNs face issues finding funding outcomes that are right for them. We specialise in the commercial lending market and that includes finding the right solutions for ABNs. Affordable, individually sourced and structured credit for motor vehicles, heavy vehicles, machinery and equipment, general expenditures and cash flow back-up for self-employed operators.

With over 80 lenders available to us through our accreditations, we have the resources and expertise to source the right credit opportunities for self-employed operators across many industry sectors.

Lender Loan Product Interest Rates From Monthly Repayment
{{Lender}} {{Loan Product}} {{From - Advertised Rate}}{{Rate Type}} ${{Payment Amount}} MONTHLY
{{Loan Product}}
{{From - Advertised Rate}}{{Rate Type}} ${{Payment Amount}} MONTHLY

*The purpose of the interest rate comparison table is to provide a guide only and for comparing the interest rates on different commercial loan products. Quoted repayments are based on advertised rates and do not include lender fees and charges. An offer made to you by a lender may be at a different interest rate and have a different repayment. Using this device is not an application, any indication of an offer, and is not a loan approval.

DISCLAIMER: This comparison chart is provided for general reference purposes only. It is not in any way intended as a loan application, it is not a quote for business finance or any indication that an application has been received or approved. The rates quoted are for business use where the funds are predominately for business use and may not include all the fees and charges that may be applicable. The interest rates and the repayments displayed do not account for any conditions pertaining to your individual loan application. Therefore the interest rate and repayment you may be offered may vary from the amount shown.

We work harder to secure the best rates.

Secure best rates

Get your quick quote

In order to provide the best experience, your details are saved on our secure server as you enter them.

Sole Trader Loan FAQ's

  • For small and self-employed entities, it is quite normal for the owner’s personal financials to be requested as part of the application.

  • Many commercial credit applications are approved with the assets being funded as the collateral. Self-employed operators may be requested to provide additional security. This is subject to individual lender decisions.

  • All types of equipment used in a commercial entity may be funded with commercial credit for all types of operators. IT systems, hardware and software would be included.

  • Credit terms are subject to the individual decision of the lender. As a guide, 7 year funding terms are typical on wheeled and yellow goods such as excavators.

  • No. Applicants for ute funding do not need to be registered for Goods and Services Tax.

  • Car Leasing payments are deductible but Chattel Mortgage and CHP repayments are not fully deductible, only the interest is a deduction. CHP and Chattel Mortgage deliver deductions via depreciation of the car.

  • When credit is approved for self-employed operators, the operator is entitled to the deductions and benefits relevant to the type of credit product.

  • Terms and conditions attached to credit are determined by lenders and based on the assessment of the individual application. Self-employed applicants are not automatically subject to strict conditions.

  • Online calculators are available on lender and broker websites and can be used to calculated estimated repayments.

  • ABNs may apply for funding for a wide range of assets including plant, machinery, equipment, trucks and motor vehicles.

  • ABNs may choose from Chattel Mortgage, CHP, Rent-to-Own and Leasing for equipment funding.

  • Lenders have their own criteria in regard to trading time. Some stipulate a minimum of 12-24 months. Newer operators may seek lenders and brokers that approve applications for lesser trading periods.

  • Yes. Leasing is one of the credit products available. The others are Chattel Mortgage, Rent-to-Own and Commercial Hire Purchase.

  • Interest rates are determined by lender assessment of individual applications.

  • Yes. Holding an ABN is mandatory for commercial funding applications.