New ABN? How to Get Approved Even If You’re Just Starting
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—via quotes, invoices, or a supplier proposal—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 unsecured business loans, especially if you have payslips or contract agreements that show your ability to repay. There are even low-doc and no-doc loans tailored to sole traders and directors starting fresh.
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 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 Example
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
• A vehicle quote ready to go
We matched him with a flexible lender that supports new ABNs in the trades. He was approved within 48 hours—no BAS, no tax returns, just smart structuring.
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.
Whether 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.
Ready to Apply?
Checkout our Pre-Approval Checklist to see what documents you might need
Or 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.