New ABN? How to Get Approved Even If You’re Just Starting
New business? No problem. Here’s how new ABNs can still get approved for finance—plus what lenders really look for when you’re just starting out.
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.
Lease vs Finance: Which One is Right for Your Business?
Trying to decide whether to lease or buy business equipment? Learn the key differences, benefits, and how to choose the best finance option for your business.
If you’re running a business and planning to finance equipment, vehicles, or other assets, one key question comes up often:
Should I lease or should I finance? Is there even a difference?
At Thrift Capital, we help business owners across industries make this decision every day. The right option depends on your cash flow, growth plans, and how long you expect to keep the asset.
This guide breaks down the pros and cons of leasing vs. financing to help you choose the best path for your business.
What Is Leasing?
Leasing is essentially renting the asset for a set period. You make monthly or quarterly payments, but the lender retains ownership. At the end of the lease, you may return, upgrade, or purchase the asset—depending on the agreement.
Best suited for:
Businesses needing frequent equipment upgrades
Companies with limited upfront capital
Those seeking off-balance-sheet finance options
Benefits of Leasing:
Lower initial outlay
Easier approval for some structures
Potential tax advantages on lease payments
Greater flexibility to upgrade over time
What Does Financing Mean?
When you purchase a business asset using finance (such as a Chattel Mortgage), your business owns the asset from day one. The loan is secured against the asset, and you repay it over time.
Best suited for:
Businesses looking for long-term ownership
Industries like transport or trades needing equity in equipment
Owners wanting more control over the asset’s use or resale
Benefits of Leasing:
Full ownership = long-term value
Interest and depreciation may be tax-deductible
May be eligible for upfront GST claims (if GST-registered)
Flexible terms and balloon payment options
Lease vs Finance: Quick Comparison
When you lease, you don’t own the asset—you’re essentially renting it over a fixed term. This typically comes with lower upfront costs and greater flexibility to upgrade when needed. Lease payments may also be tax-deductible, depending on your setup. At the end of the lease, you may return the asset, upgrade, or choose to purchase it, depending on your agreement.
When you buy—usually through a Chattel Mortgage—you own the asset from day one. This option often involves a higher upfront cost (unless you structure it with a balloon payment), but it gives you long-term value. You may be able to claim interest and depreciation as tax deductions, and if you’re GST-registered, you could be eligible to claim GST upfront. Unlike leasing, buying gives you full control over the asset at the end of the finance term.
So… Should You Lease or Finance?
Ask yourself:
• Do I need flexibility with cash flow right now?
• How long will I use this asset?
• Is ownership important for my business strategy?
• What are the tax implications? (Speak with your accountant.)
The right structure depends on your business goals—and getting it wrong could cost you more in the long run.
Need Help Deciding?
We’re here to help.
Thrift Capital brokers explain the options clearly—without jargon. Whether you’re buying a truck, leasing medical equipment, or financing a fit-out, we’ll match you with the right lender and structure to suit your business.