Low-doc Loans Perth
Get the experts for low-doc loans Perth on board
As a business owner, your time is precious. Spending hours comparing loans and sorting through mountains of paperwork to apply just isn’t practical. What’s worse, if you’ve gone to all the effort only to find you don’t have the necessary documentation to apply for a regular loan. That’s when you need a low-doc loans expert in your corner.
What are low-doc loans?
Low-doc loans are a lifesaver for businesses when you’re short on time or can’t provide financial statements required for a regular loan. As the name suggests, it works in much the same way as a regular loan, but the paperwork is significantly reduced. And you still have access to similar loan products and rates.
What can low-doc loans be used for?
Low-doc loans can be used to finance vehicles and equipment if the goods being purchased are fit for the purpose and will be used for business. Get in touch for more information about whether you’re eligible for a low-doc loan, today.
What do you need to be eligible?
The criteria for a low-doc loan differs for each lender, but that’s a good thing for business owners and self-employed individuals because that means you’re more likely to find a low-doc loan that suits your circumstances. These are typically the things you need to be eligible for a low-doc loan:
- Maximum lend of $150,000
- Verified property owner or 20% deposit
- ABN and GST registration for 12 months when purchasing a passenger or light commercial vehicle
- ABN and GST registration for 24 months when purchasing heavy equipment or specialised goods
- Asset age guidelines do apply
What about GST registration?
In most cases, GST registration is a requirement, however, please contact me to discuss your circumstances and whether you can qualify for a low-doc loan without GST registration. Low-doc loans can be used to purchase from private sellers as well. I’ve been dealing with low-doc loans for over ten years, so you can rest assured that I know which lenders have the right low-doc loan products to suit your situation and are more likely to approve your loan.