Business Loans

Your ability to grow your business isn't limited, so why should your options for business loans?  At AAA Finance we are committed to ensuring that - no matter what you need – we are the finance provider that will help you get it.  AAA Finance can provide you a solution for any vehicle or equipment your business may require.

Business loans allow all types of businesses to secure a loan against all types of assets.  The asset could be a car, motorbike, camper, truck, plant or equipment.  The asset will need to be used predominantly for business to access a business loan facility.

How to qualify for a Business Loan

  • Businesses can range from sole traders, partnerships and trusts to large corporations, however, they must have an ABN.
  • The asset, being a car, truck, plant or equipment, must be used for a minimum of 50% business related use.
  • Documentation requirements vary between the different types of business loans.  For example, a low doc business loan may only require 3 months recent bank statements however a full doc business loan may require full up-to-date tax returns and banks statements.

Types of Business Loans

All business loans are a type of chattel mortgage.  Chattel mortgages are very much like a secured car loan however they are only for business use.  A chattel is an asset, for example, car, truck, excavator.  A mortgage is the lending of funds to purchase an asset that is then used as security against the loan.  Once the loan contract is complete the business owns the asset outright.  Using the asset as security for the loan reduces the risk to the lender.  This means lenders are willing to offer more competitive interest rates.


There a 3 Types of Business Loans

  1. No doc business loans.
  2. Low doc business loans.
  3. Full doc business loans.

1. No Doc Business Loans

Many small business owners don’t complete their tax return immediately at the end of the financial year.  This makes sense, particularly if your business will owe tax to the Australian Government.  Business owners are better off utilising those funds in their business until the tax is due. 

A no doc business loan allow businesses to obtain finance without the need for up-to-date financials or any other paperwork for that matter.  However, the business will need to declare to the lender an estimate of net income and gross turnover.   A no doc business loan is for established businesses that have been operating for over 2 years, are GST registered and of which the director/s are homeowners.

2. Low Doc Business Loans

A low doc business loan is very similar to a no doc business loan, however, in this case the lender does want some type of proof of income.  Although the lender may not require a recent full tax return, they could request 3 months bank statements to show that the business is generating sales.  Other documentation that a lender may request could include the latest BAS, a profit and loss statement or a letter from your accountant.  Every lender has different requirements, and every business has their own unique financial situation.  This is where you need an experienced business finance broker to look after your interests – not the banks!  To qualify for a low doc business loan, you will need to have an ABN running for a least 12 months and be GST registered.

3. Full Doc Business Loans

As the name suggests, full documentation is required to prove your income.  Documentation for full doc business loans usually includes a copy of the current business tax return and notice of assessment.  Lenders may also request 3 months bank statements, BAS, profit and loss and/or a letter from your accountant.


Advantages of Business Loans

  • You own the truck, plant or equipment from the start of the agreement.
  • GST registered customers can claim back the GST on the purchase price.
  • Low establishment fee and monthly repayments with no payout penalties.
  • Fixed interest rate for the term of the agreement.
  • Monthly repayments fixed for the term.
  • No GST charged on the monthly repayment.
  • Access to further tax benefits where the truck, plant or equipment is used to generate income. (check with your accountant)
  • Terms from 1 to 7 years.
  • Balloon payments are available.
  • Business loans from $5000.


Apply for a Business Loan

Speaking with an experienced business finance broker is the first step in securing finance for your business.  Our business finance experts are ready to discuss your business loan requirements.  We will get to know you and your business and get you the best deal in town.

Business Loan Calculator

Our easy to use Business Loan Calculator includes a balloon pay out option.  You can calculate both fortnightly and monthly repayments.  The calculator requires an estimate of loan amount, annual interest rate and loan term in years.  The interest rate that we can organise for you depends on your profile, previous credit history as well as the type and age of asset being purchased.


AAA Finance Business Loans

Business Loan FAQs

How do you qualify for a business loan?

1. Have a business ABN and preferably be GST registered.
2. The Vehicle/ equipment must be used for predominantly business-related use.
3. Financial documentation ranging from full tax return to interim financials to a simple declaration of income. Every lender has different requirements, and each business has a unique financial situation. No doc business loans do not require any documentation whereas a low doc business loan requires interim financials such as BAS, bank statement or accountant's letter.
4. Provide proof of identification and residence.

How much can I borrow for business loan?

Business loans use the asset as security for the loan. You can borrow up to the value of the vehicle or equipment your business is purchasing.

How does a business loan work?

A business loan in is a type of chattel mortgage. The chattel is the asset your business is buying, and the mortgage is the lender using the asset as security for the loan. Monthly fixed repayments for the term of the loan are required.

Is it hard to get a business loan?

Choosing an experienced finance brokerage with a large range of lenders will ensure that you will have the best chance of a business loan approval.


Insurance Options

AAA Finance and Insurance has a range of insurance products to protect your asset and your business loan.  To protect your asset we offer Comprehensive InsuranceTyre and Rim Insurance and Extended Warranties.  Gap or Shortfall Insurance and Loan Protection Insurance  are options that protect your business loan and your credit rating.

Useful Link | ATO Record Keeping for Heavy Vehicles

The link takes you to The Australian Taxation Office website 

Fuel tax credits - record keeping for heavy vehicles.

Tammy Davies
Tammy Davies
27 April 2024
Excellent service provided from start to finish, Jaime kept us informed through each step. Would highly recommend. Very easy to deal with, having financed with car dealers many times, this was a seamless process and AAA ensured they secured the best deal for us.
David Marjoribanks
David Marjoribanks
17 April 2024
Jason Barry and the team at AAA Finance were great throughout what became a complex process in arranging settlement on finance for a vehicle. Jason’s continued efforts to resolve some unexpected issues and constant follow up ensured the finance settled. Without his great work it could easily have fallen over. Even the fleet company who sold the vehicle to me were singing his praises ! Thanks Jason. Will be using Jason and AAA Finance on my next purchase for sure !
Deborah Gibson-Campbell
Deborah Gibson-Campbell
2 April 2024
Exceptional service by Jason yet again. I have been engaging Jason for many years now, whenever I have used financial services for purchases and he has always obtained a great loan package for myself.
Samantha Holder
Samantha Holder
2 April 2024
Big thanks to Jason Barry at AAA Finance! From beginning to end, Jase ensured that purchasing our 2021 Jayco Work N Play was smooth and hassle-free. Even though we initially received approval with a higher interest rate, he persevered and secured a much better rate for us. He maintained excellent communication throughout the entire process. I highly recommend Jason to anyone. Thank you Jase for your outstanding service!!
Jemma Pudwell
Jemma Pudwell
15 February 2024
We have used Jase from AAA Finance twice in the last 12 months, and he has been great to deal with. Communication was great, he was very proactive especially if anything may come up and were very quick in getting it all sorted in the best possible way to suite our situation. Highly recommend and will use Jase again in the future.
Ryan Smith
Ryan Smith
14 February 2024
Just finished my process with Ray from AAA finance. The man is unbelievably genuine and taught me so much throughout the process. This wasn't just about securing my finance and Ray showed that through immaculate service. Ray has educated me and shed light onto future projects only confirming where I'll be taking my business in the future. Absolutely phenomenal and wouldn't even consider using anyone else. Thanks again Ray!
Wayne Roby
Wayne Roby
29 January 2024
AAA were awesome at helping me out of a tight situation (and with bad credit file) ! they were friendly and quick to respond. i would highly recommend them
23 January 2024
Jason was professional, organised and very helpful in regards to the loan for camper van. I am very grateful to have spoken to someone who managed the process so easily, flexibly and was able to provide solutions. Thank you
Emily Dimitriou
Emily Dimitriou
10 December 2023
Jason has been absolutely wonderful to deal with and we couldnt be happier with his service. Top notch 😊
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