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SELF EMPLOYED WITHOUT FULL FINANCIALS

Low Doc Loans Available at CommercialLoans.com.auWhat are Low Doc Loans?

Low doc loans are a type of commercial loan intended for the self-employed or small businesses who lack sufficient documentation to prove their income. Many startups and small businesses have very limited income history.Oftentimes this is due to the way small businesses operate and their limited working capital. Also, some financial statements are so complex that it’s difficult to verify the income.Whatever the reason, if you’re unable to prove your income the conventional way, you could benefit from a low doc or no doc loan.Low doc loan pricing is often based on Loan-to-Value-Ratio.Low Doc Loans are available up to 80 percent of the value of your mortgaged property but with most Banks offering only 65 percent of the value Commercial Loans can advise you on which lenders are best suited to your Low Doc Loan needs.The most common requirements for low doc loans are:
    • Income declaration made by you, the business owner
    • A Business Activity Statement proving that your business is active
Using the BAS statement, your lender will assume 40 percent of the total business turnover as your income.What kind of property can you use as collateral for a low doc loan? Generally, there are four kinds:
  • Commercial property
  • Rural property
  • Residential property
  • Industrial property
 

Benefits of an Approved Low Doc Loan

The most obvious benefit of an approved low doc loan is minimal paperwork. Even if you generate enough income to secure the funding you need, you may lack the documents needed to obtain a conventional loan.This situation is quite common for small businesses and self-employed individuals.Fortunately, Commercial Loans’ extensive network of Australia’s top commercial loan brokers greatly boosts your chances of obtaining a low doc loan that meets your unique financial situation.With the right broker and a customised low doc loan plan, you can enjoy privileges associated with traditional commercial loans at an easy repayment scheme. This means that when you come to us, you never have to settle for a loan that doesn’t fit your needs.Whether it’s for business expansion or acquiring real estate, you are guaranteed of a wide range of options to choose from.Here are 5 good reasons to choose a low doc loan:
  • It is a good starting point for small businesses and self-employed individuals who have good credit records
  • Ideal for small businesses with limited financial statements
  • Many lenders offer similar rates as conventional loans
  • A viable alternative to bad credit loan
  • Feasible for borrowers with irregular income, but have enough equity in their collateral
So if you find that traditional loan fails to meet your needs, we can help.At Commercial Loans we offer a wide range of low doc loan options that can be customised to meet your specific requirements.Call us today!Let us help you choose a borrowing option that will work best for you.

Low Doc Loans

Sometimes when you are self-employed your income history is limited or hard to verify or maybe your Accountant has not yet prepared your financials? Low doc and No doc loans provide self-employed borrowers who have limited verification of their income the opportunity to get a loan without having to jump through hoops!Some of our Low Doc lenders require an income declaration signed by the applicant whilst others require BAS statements or business bank statements but whatever your circumstances by simply speaking with a Commercial Loans broker we will find a solution to meet your specific needs.
  • Lending up to 80% of the property’s value or 100% with additional security
  • Low Doc, No Doc and Lease Doc Commercial property loans available
  • Solutions available for the Credit impaired
  • We have a large range of low doc commercial loan lenders
  • Interest only terms available
  • Speak directly with one of Australia’s top commercial loan brokers by clicking on “Get a Quote” below
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