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. 

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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. 

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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. 

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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.

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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. 

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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. 

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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. 

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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. 

How to Get Approved Fast: What Lenders Look For and Why the Right Match Matters

When it comes to business finance, getting approved quickly isn’t just about completing an application—it’s about understanding how the system works. At Thrift Capital, we don’t just help you apply; we help you get approved—fast. 

The key? Matching the right lender to your industry, understanding approval timelines, and knowing exactly what lenders are looking for. 

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Here’s what every business owner should know to move from enquiry to “approved” with confidence. 

1. Matching Lenders to Your Industry Matters More Than You Think 

Not all lenders are the same—and neither are businesses. 

Each industry has unique financial needs, cash flow cycles, and risk profiles. That’s why one of the most valuable things a broker can do is match you with a lender who understands your space. 

Here’s how it works: 

• Transport & Logistics
  Lenders familiar with this sector offer fast approvals, flexible repayments, and often accept second-hand vehicles—because they understand that time is money. 

• Construction & Trades
  Seasonal cash flow and balloon repayments are common. Lenders experienced with asset-heavy businesses are best suited here. 

• Medical & Allied Health
  Lenders that finance high-value medical equipment with longer terms and industry-specific criteria are ideal for clinics, dental practices, and wellness providers. 

Why this matters: 

The wrong lender could slow your approval—or deny your application altogether. The right one could fund your asset within 24 hours. That’s the power of tailored finance.

2. Why Some Lenders Approve Faster Than Others 

Ever wonder why some lenders give you an answer in hours, while others take weeks? 

Here’s what makes the difference: 

• Lender Type
  Traditional banks often require full-doc applications and lengthy internal reviews. 
  Non-bank lenders are typically more agile, offering low-doc and ABN-only options with quicker turnaround times. 

• Broker Involvement
  A broker who understands lender preferences can submit your application in the right format—streamlining the process and saving valuable time. 

• Your Application
  Clean, complete documentation significantly speeds up decisions. Missing details are one of the most common causes of delay.

Tip: 
Want to move fast? Talk to a broker before submitting your application. It could save you days. 

3. What Lenders Actually Look For in Your Application 

It’s not just about your credit score. Lenders take a holistic view when assessing applications.

Key factors include: 

• ABN Age and Activity
  Even low-doc lenders want to see how long you’ve been trading. While longer histories are preferred, approvals are still possible for newer businesses—with the right lender. 

• Income and Cash Flow
  Whether you provide bank statements or verified financials, lenders need to see that your business can comfortably service the loan. 

• The Asset

  The condition, age, and value of the asset you’re financing matters. New or well-maintained second-hand equipment is typically easier to fund—and often secures better terms. 

• Supporting Documents
  “Low-doc” doesn’t mean “no-doc.” Having ID, ABN details, recent bank statements, or a tax invoice ready makes a smoother process for both broker and lender. 

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The Thrift Capital Advantage 

At Thrift Capital, we don’t just submit applications—we set you up for success. Our team: 

• Understands your industry and funding needs 

• Matches you with the right lender 

• Professionally packages your application 

• Fast-tracks submissions to key decision-makers 

With access to over 40 banks and non-bank lenders, we know how to find the best path—whether you’re a startup tradie, an experienced fleet operator, or a growing medical practice. 

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Need Fast Finance? Here’s What to Do Next 

If you’re planning to buy equipment, finance a vehicle, or need a working capital boost—don’t do it alone. 

The right match, lender, and process can mean the difference between two weeks and 24 hours. 

Speak to a Thrift Capital broker today.