eligibility
What are the requirements for low-doc asset finance?
Short answer
To qualify for low-doc asset finance your ABN must have been active for 24+ months, your business must be registered for GST, you need at least one director or guarantor, the asset must be for business use and no older than 15 years at the end of the term. Business use under 50% may affect the rates available.
Last reviewed 8 September 2026 by AssetMX.
Direct answer
Low-doc asset finance has a fixed set of eligibility rules set by lender policy, not by AssetMX. Your business needs an ABN that has been active for at least 24 months, current GST registration, and at least one director or guarantor standing behind the loan. The asset itself needs to be used for business purposes and must not be older than 15 years by the time the loan term ends.
The hard requirements
| Requirement | Standard |
|---|---|
| ABN age | 24+ months active |
| GST registration | Required |
| Guarantor | At least one director or guarantor |
| Asset age | No older than 15 years at end of term |
| Asset use | Business use |
These are hard requirements. An application outside any one of them will not fit standard low-doc policy and would need to be assessed differently, if at all.
The soft consideration
Business use under 50% is not an automatic decline, but it can affect which rates and lenders are available, since low-doc pricing is built around predominantly business-use assets.
Why these rules exist
Lenders use trading history and GST registration as a proxy for business stability instead of requesting full financials. A 24-month track record and GST registration give the lender enough confidence to skip tax returns and full financial statements for an in-policy deal. This keeps the process fast for businesses that qualify, while still managing lender risk.
Where to next
If your business meets these requirements, see what documents to prepare at documents needed for low-doc asset finance, or check lender policies for more detail on how policy is applied.
This is general information only and does not take your circumstances into account. It is not financial, tax or legal advice.
Sources
Related questions
Can a new business with a 12-month-old ABN apply?
No, low-doc policy requires the ABN to have been active for at least 24 months. Newer businesses would need to be assessed under a different lending pathway.
Does the business have to be GST registered?
Yes, GST registration is a hard requirement for low-doc asset finance under lender policy.
What if the asset is used partly for personal use?
The asset must be for business use. Business use under 50% may still be considered but can affect the rates available.
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Trading 2+ years · Clean credit · Vehicles, trucks or equipment for business use