poppyWhat is a low doc business loan?
A low doc (low documentation) business loan is approved without the full set of financial statements, tax returns and accountant letters that banks usually ask for. Instead, the lender relies on other evidence of how the business is going.
For Poppy, that evidence is your business bank data. It shows your real sales, your regular costs and your existing commitments, often more accurately than last year’s tax return.
What you’ll need
- Your ABN (or NZBN in New Zealand)
- Photo ID for each business owner or director
- Read-only access to your business bank account, through a secure link we send you
- A few details about the business and what the loan is for
Occasionally we may ask a follow-up question or for one extra document. We’ll tell you exactly what and why.
Who low doc loans suit
- Businesses whose latest tax return doesn’t reflect how they trade now
- Owners who are behind on getting financials prepared
- Newer businesses (6+ months) that don’t have two years of financials yet
- Anyone who needs an answer without waiting on their accountant
Is sharing bank data safe?
The connection is read-only. We can see transactions, but we can’t move money or make changes to your account. Our Privacy Policy explains how we handle your information.
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