Documents you need to apply for business finance

Business loan requirements and documentation

Starting a small business or looking to expand? Applying for business finance or a business loan can be a complicated process, as business lenders require specific information. Get the documentation right in your business loan application with these key items, so your lender can help you find the most appropriate loan for you.

Financial statements

When you apply for a business loan, we need to assess the financial performance of your business so we can determine your capacity to service the loan. Most businesses need to provide at least:

Annual financial statements for the last two years

Financial statements show assets, liabilities and your net worth position, as well as your income and expenses. This will be used to determine if you can meet your existing and proposed repayments. Your financial statements will generally consist of a balance sheet and income statement. They may also include a statement of cash flow.

A copy of the lastest full tax portal report

This may include tax returns, recent business activity statements (BAS) or printouts of statements from your Australian Tax Office (ATO) portal. If there are trusts or self-managed super funds (SMSFs) related to your business, you may need to provide additional documents.

In some cases, including start-ups or more complex businesses, we may ask for more information, including:

• cash flow projections 
• interim or recent management financials
• BAS statements and cash flow statements
• business contract of sale
• lease agreements.

Your individual position

If you’re the director or shareholder of a company, we may also ask for supporting information about your individual financial position, including:

• your two most recent individual income tax returns
• an ATO Notice of Assessment
• statement of position (assets and liabilities)
• proof of income you earn outside of your business, such as rental income from an investment property
• loan or other account statements
• details of your general living expenses and other debts.

Security

When you make a business loan application you may be required to provide some form of property as security. Whether security is required will depend on the type of business loan you apply for. In most cases we'll need a guarantee from company directors where corporate borrowers are involved.

Understanding your business

If you’re starting or buying a new business, or making significant changes,   we may need to see your business plan. This plan should outline everything from your products and services to information about your competitors. Your business plan should answer these questions:

• Who are your customers?
• What do you supply?
• What’s your potential?
• Where do you sit in your market?
• How well do you understand your market?

Before you begin your application 

You should be as informed as possible before you apply for a business loan. You can use tools like our business loan calculator to assess how much you might need to borrow. It can also help you determine the types of repayments you'll have to make before you start the application process.

How to apply

To apply for business finance, call one of our business bankers on 13 10 12 or  request a call back.