Low Doc Loans

Low doc loans simplify the application process by limiting the amount of supporting documentation required

Low doc Finance

Low doc finance is similar to the no doc option with a couple of additional checks and balances. The low doc option is available from most lenders who have their own set of qualifying criteria.

There is generally no interest rate penalty for a low doc but the application or qualifying criteria is strict. Like no doc the product works off the following parameters

  • Asset type, value and age (common asset types like vehicles, trucks, yellow goods etc)
  • Clear credit history for company and director (Most are strict on this – while they can accept some credit issues – full doc would be required to obtain the best rate)
  • Age of business (Generally 2 yrs but 12 month ABN’s are often ok for vehicles)

These components provide the lender with a level of comfort, Low doc is possible because of good credit history, less perceived risk with the asset category and the business has a trading history. 


Low Doc Application requirements

Application requirements for low doc loans will vary in some part from lender to lender but the common requirements are;

  • Application form (This collects business and director details,)
  • Commitments Schedule (A list of all business loan details)
  • Asset & liability statement (A list of person assets and liabilities (Loans))
  • Director ID
  • Business Background (we put this together for you on application)

Lenders will often request and check a finance reference. Approval time frames for low doc finance vary by lenders from 4 – 48 hrs.

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