New ABN? How to Get Approved For A Start-up
This guide is specifically for ABNs less than 12 months old. Starting a business is a bold move and one that often requires funding early on, especially if you’re purchasing vehicles, equipment, or preparing for a contract. But if you’ve only just registered your ABN, you might be wondering:
Can I even get finance this early?
The short answer: Yes, you can. While some lenders still favour businesses with 12 months of trading history, many now offer finance solutions specifically for new ABNs, startups, and sole traders especially when your application is structured properly.
This guide breaks down how finance works when you’re just getting started, what lenders actually look for, and how Thrift Capital helps you improve your chances of fast approval even in your first weeks of trading.
The Misconception: “I Need 12 Months in Business to Qualify”
This is one of the most common myths we hear.
While it’s true that major banks usually want to see trading history, this isn’t the case across the board. In fact, Australia’s non-bank and specialist lenders are increasingly offering products built specifically for early-stage businesses, many with no minimum ABN age requirements.
That means if you’ve just registered your ABN—whether as a tradie going out on your own, a side hustler formalising your business, or a company director launching a new venture—you can still qualify for funding with the right lender and the right documentation.
What Lenders Look for When There’s No Trading History
When you don’t have BAS statements or financials to show, lenders shift their attention to other key areas:
Your personal credit profile. This becomes your main credibility indicator. A good score shows reliability, especially for low-doc or unsecured loans.
Your industry experience. If you’ve been working in the field even as an employee, lenders view you as “low risk” despite the new ABN.
The asset you’re financing. Tangible assets like vehicles or machinery often make approvals easier, especially if they hold resale value.
The loan purpose. If you can show what the funds will be used for through quotes, invoices, or a supplier proposal, and that helps lenders gain confidence in your plan.
Supporting documentation. Items like your driver’s license, ABN certificate, past payslips, or a simple business plan can help complete the picture.
It’s less about being a “fully established” business and more about demonstrating that you’re serious, stable, and ready to generate income.
What Finance Can a New ABN Access?
You might be surprised by what’s available.
Vehicle finance, for example, is commonly approved for new ABNs particularly for utes, vans, or work vehicles. So is equipment finance for tradies, creatives, or professionals buying tools or machinery.
Other lenders may offer secured business loans, especially if you have any vehicles, equipment or machinery that you can use as security against the loan, or a work source letter to show the lender there is work lined up for the gear and you will have the ability to repay. There are even low-doc loans tailored to sole traders and directors starting fresh where the lender will only ask for 3 to 6 months bank statements, without the need to provide financials.
And while your interest rate may be slightly higher than an established business, the key benefit is access: you get the asset now, build credit, and refinance, upgrade or expand your fleet later at better terms.
How Thrift Capital Makes It Easier
As brokers, we act as your bridge to lenders who are open to working with new ABNs.
We know which lenders are comfortable with minimal trading history, and we help you:
• Avoid unnecessary paperwork (no one-size-fits-all applications here)
• Show your strengths, whether it’s experience, credit, or clear purpose
• Get matched with the right lender from our diverse panel
• Fast-track approvals, with many clients approved within 48 hours
We’ve helped dozens of new ABN holders get funded—some within a week of registering their business.
Real-World Examples
Recently, we assisted a carpenter from Western Sydney who had just gone out on his own. He registered his ABN two weeks prior and needed $38,000 to buy a ute and trailer setup.
He had no trading history but he had:
12+ years’ experience in construction
A clean personal credit record
3 months bank statements showing income from his previous PAYG carpentry job
We matched him with a flexible lender that supports new ABNs in the trades. He was approved in 24 hours, no BAS, no tax returns, just smart structuring.
ABN Loans: What's Actually Available and How Fast Can You Access It?
ABN loans cover a broader range of finance products than most new business owners realise. If you have an active ABN, even a brand new one, here is what you can typically access:
Vehicle and equipment loans are the most common ABN loans for new businesses. Lenders are comfortable with these because the asset itself acts as security. A ute, van, truck, or piece of machinery holds resale value, which reduces the lender's risk even when your trading history is short.
Secured business loans use existing assets like a vehicle, equipment, or property as collateral. Because the loan is backed by something tangible, lenders are more flexible on trading history and documentation. These can be arranged quickly, often within 24 to 48 hours.
Low doc ABN loans are designed for sole traders and directors who have cashflow but can't provide full financials. Most lenders in this category ask for 3 to 6 months of bank statements and your ABN certificate, nothing more.
Unsecured ABN loans are available through select lenders for working capital or smaller business expenses. These carry higher rates and are more dependent on your personal credit profile, but they exist and can be arranged fast when your credit is clean.
How fast can you get an ABN loan? For asset-backed products, approvals typically happen within 24 to 48 hours once your application is structured correctly. Thrift Capital has settled ABN loans on the same day in straightforward cases. The key is matching you to the right lender before submitting, not applying broadly and hoping.
Final Thoughts: It’s Not Too Early It’s Just a Different Path.
Starting a business is a leap. And while funding a new ABN isn’t always as simple as ticking a box, it’s absolutely achievable with the right approach.
If you’re applying as a sole trader, company director, or trust, we’ll help you understand what’s needed and guide you through every step without delay or confusion.
Already past your first year? Read our guide to finance options for established ABN holders
Frequently Asked Questions
Can I get business finance with a new ABN?
Yes. While major banks usually prefer 24 months of trading history, many Australian non-bank and specialist lenders offer finance solutions built specifically for new ABNs, startups, and sole traders. Some have no minimum ABN age requirements. New ABN holders, including tradies going out on their own, side hustlers formalising their business, and company directors launching new ventures, can qualify when their application is structured correctly with the right lender match.
How long does my ABN need to be active before I can apply for finance?
There's no universal minimum across the lender market. For brand-new ABNs less than 3 months old, lenders typically need to see work already lined up (in the form of signed contracts or quotes) or industry experience we can evidence, for example prior PAYG payslips in the same trade. For ABNs less than 6 months old, bank statements will always be required to demonstrate cashflow. The right structuring with the right lender means even very new ABNs can be approved.
What do lenders look for when I don't have trading history?
Without BAS statements or financials, lenders focus on five key areas: your personal credit profile (your main credibility indicator), your industry experience (working in the field as an employee still counts), the asset you're financing (tangible assets with resale value make approvals easier), the loan purpose (quotes, invoices, or supplier proposals build lender confidence), and supporting documentation like your driver's licence, ABN certificate, past payslips, or a simple business plan.
What types of finance can a new ABN access?
New ABNs can access funding for a wide range of equipment and vehicles, including utes, vans, work vehicles, machinery, and tools. However, loan amounts are usually capped at a smaller maximum than established businesses, and rates are typically higher unless you're asset-backed (own property). For this reason, it's important new businesses fund income-generating assets first. Assets that directly produce revenue help establish trading history for future finance.
Will my interest rate be higher as a new ABN holder?
As a new business, you should expect higher rates regardless of your profile. That's the lender's pricing for limited trading history. Your first loan should be used strategically: fund an income-generating asset, structure it to keep repayments comfortable, and use that trading history to qualify for sharper rates as your business grows. The first loan is a stepping stone, not the destination.
Do I need a deposit, and what counts as one?
Deposits aren't always required, but they help. A deposit can take several forms. Beyond cash, lenders accept current vehicle trade-ins, and existing paid-off equipment or vehicles can be used to raise capital for required deposits. This means you may have more deposit options than you realise, even if your cash position is tight at the start.
How quickly can I get approved with a new ABN?
Approvals can be very fast. Thrift Capital has funded assets from enquiry to settlement in as little as the same day. The typical turnaround is around 48 hours for straightforward applications. Speed depends on having the right lender match, complete documentation, and a properly structured application from the start.
How does a broker help me get approved with a new ABN?
A broker acts as your bridge to lenders who are open to working with new ABNs. They know which lenders accept minimal trading history, help you avoid unnecessary paperwork, present your strengths effectively (experience, credit profile, clear loan purpose), match you with the right lender from a diverse panel, and fast-track approvals, often within 48 hours.
Ready to Apply?
Speak with a Thrift Capital broker to find out what your options are today
You don’t need to wait 12 months. You just need someone who knows how to help you get started.