poppyHow we look at credit history
Many lenders start and finish with a credit score. We start with your bank data: how much your business sells, how steady those sales are and what other commitments it already has. Your credit history is part of the picture, not the whole of it.
That means a business owner with an old default, a past late payment or a thin credit file may still be eligible, if the business trades well and can comfortably afford the repayments.
When we probably can’t help
- The business is in administration, liquidation or a formal debt agreement
- The loan would be used to pay off other short-term funding you’re struggling to repay
- The business has recently missed repayments on other finance
- Sales are too low or irregular to support a fixed weekly repayment
If that’s you, a new loan could make things harder. Your accountant or a free small business financial counsellor can help you work through the options first.
Checking eligibility won’t hurt your credit
Submitting our eligibility form doesn’t involve a credit check. If you choose to continue to a full assessment, we’ll tell you before any credit check happens, so you’re never surprised.
Improving your chances
- Run your sales through one business bank account, so we can see them clearly
- Be upfront about any past credit issues and what’s changed since
- Ask for an amount your weekly sales can comfortably support
- Bring any overdue tax lodgements up to date
Who can apply
- A registered business in Australia (with an ABN) or New Zealand (with an NZBN)
- Trading for 6 months or more
- Around $10,000 or more in monthly sales
- A business bank account with regular deposits we can see
- The loan is for a business purpose, not personal or household spending