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. 

Post-EOFY Finance: Why July Is the Smartest Time to Apply

Fresh financials. Flexible lenders. Faster approvals. 

Here’s why early in the financial year is the best time to apply for business finance. 

---

A New Financial Year = New Opportunities

If you’re planning to invest in equipment, vehicles, or working capital, applying for finance in July can give you a head start. 

Why? Because you’re armed with fresh numbers, and lenders are more responsive early in the financial year. 

Your Financials Are Fresh and Ready

At this time of year: 

• Your FY23–24 financials are complete or in final stages 

• You’re working with your accountant to wrap up reports 

• Lenders can make faster decisions with up-to-date data  

It’s the perfect moment to apply while everything is still recent and accessible. 

Lenders Are More Flexible in July

Post-EOFY, lenders are looking to kickstart their new-year lending goals. That often means:

• Faster approvals

• Competitive rates

• More flexible terms

And as brokers, we know exactly which lenders are ready to move—and how to match them with your needs.

Beat the Rush Before Peak Season

Many business owners wait until March–June to sort their funding.

By then, lenders are busier and policies can tighten.

**Applying now puts you ahead of the rush—**with more options and faster results.

What You Might Need

Every application is different, but here’s a general list to prepare: 

• FY23–24 Profit & Loss and Balance Sheet 

• Last 6 months of bank statements 

• Recent tax returns and ATO portals 

• BAS for the last 2 quarters 

• Asset invoice or quote (if buying equipment or vehicles) 

Don’t stress—you might not need all of these. Your Thrift Capital broker will guide you through exactly what’s required.

Ready to Move Forward? 

We’ll help you: 

• Know exactly what to submit 

• Get matched with the right lender 

• Secure funding faster, with less stress 

Checkout our free Pre-Approval Checklist 

Or speak with a finance broker today.

Free Pre-Approval Checklist for Business Loans Over $300K

Know what you need before you apply—and get approved faster. 

Applying for a business loan over $300,000? Lenders typically require more detailed documentation at this level. That’s why we’ve created this free Pre-Approval Checklist—to help you prepare, avoid delays, and give your application the best chance of success. 

Whether you’re a sole trader, company director, or applying through a trust, this checklist covers the documents that matter most. 

Note: For business loans up to $250,000, approvals can often be secured with just basic identification and minimal paperwork. Speak with a Thrift Capital broker to determine the right path for your business. 

What’s Inside the Checklist?

1. Personal Identification (ID) Documents 
   Confirm the identity of the director or business owner: 

   a.) Director’s Driver’s licence or Passport (front & back) 
   b.) Medicare card 

2. Business Information 
   Provide evidence of your business registration and trading status: 
   a.) ABN/ACN 
   b.) Business registration certificate 

3. Financials 
   Help lenders assess your business performance and serviceability: 
   a.) Business bank statements – last 6 months 
   b.) Profit and Loss (Dated from July 2024-June 2025) 
   c.) Balance Sheet (Dated from July 2024-June 2025) 
   d.) Accountant Prepared Financial Statements for Previous FY (2023-24) 
   e.) Most Recent FY’s Individual Tax Return 
   f.) 12-month ATO Portals – ITA & ICA  
   g.) Business Activity Statements (BAS) – last 2 quarters 

   NOTE: We may only need a handful of the above documents to get your business approved. Speak to your Thrift Capital Finance Broker to find out what documents you need. 

4. Loan Purpose Documents(Recommended but not always required) 
   These are useful when applying for asset, equipment, or vehicle finance:
   a.) Invoice or quote for equipment purchase 
   b.) Lease agreement (for property-related loans) 
   c.) Vehicle details (make, model, year, VIN) for car/truck loans 

5. Other Supporting Documents (if applicable) 
   These documents can enhance your application and speed up processing: 
   a.) Trust deed (if applying through a trust) 
   b.) Existing loan contracts (that can be used as a reference) 
   c.) Rates Notice or other document to verify property ownership 

---

Need Help Getting Started? 

Fill out the quick form below and we’ll guide you through the next steps. No pressure—just practical, expert support to help get your business finance-ready. 

---

Why It Matters 

Being well-prepared can mean the difference between: 

• Waiting two weeks vs. getting approved in 24 hours 

• Rejection due to missing documents vs. smooth, fast-track success 

At Thrift Capital, we help you cut through the paperwork and match you with the right lender—so you can secure funding faster, simpler, and smarter.