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Expert Assistance for Sole Trader Loans Bad Credit

As specialists across the spectrum of commercial lending, we provide expert assistance to owner-operators and the self-employed that have issues around payment history and creditors. These types of issues can significantly impact the potential to acquire workable commercial funding for any enterprise. For the self-employed the impact can be even more challenging.

Utilising the services of a highly experienced commercial funding broker may assist entities in this situation achieve cost-effective solutions. We work closely with both our lenders and our clients toward achieving workable outcomes.

Business Finance Expert Assistance for Sole Trader Loans Bad Credit
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Compare Our Rates for Sole Trader Bad Credit Loans

Self-employed operators with a poor rating are typically assessed as high-risk borrowers in the lending market which can therefore result in higher rates where an offer is made. But each funding application is considered on its individual merits and workable rates may be achieved through the right lenders. Our current rates for good rated applicants can be used as a guide to the best possible scenario and a specific quote can be obtained by contacting us directly.

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Disclaimer: * The comparison rate displayed is calculated for a loan of $30,000 over 5 years. The results from this calculator should be used as an indication only. Quoted repayments are based on advertised rates and do not include lender fees and charges. Results do not represent either quotes or pre-qualifications for a loan. The specific details of your loan will be provided to you in your loan contract. It is advised that you speak with us so that we can provide you with advice that is tailored to your situation.

20 February

Today's best rate

Finance Equipment From

4.99 % Fixed

* The interest rate is calculated on a secured loan for commercial use, effective 20/02/2024 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.

20 February

Today's best rate

Finance Equipment From

4.99 % Fixed

* The interest rate is calculated on a secured loan for commercial use, effective 20/02/2024 and subject to change. Warning: the interest rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different interest rate.


Specialist Solutions for Sole Trader Bad Credit Loans

Self-employed operators with poor scores may benefit significantly from utilising our specialist lending services. Many may already have confronted the challenges when trying to source funding via direct application to banks and other lenders. We offer entities that have creditor issues, poor history of meeting financial commitments, possible bankruptcy history, poor position of the balance and high levels of debt with a customised and highly personalised approach to sourcing funding.

Our experienced brokers are non-judgemental and exhibit a commitment to achieving a workable outcome that is greatly appreciated and valued by our clients. To ensure continuity through the entire process, a broker with specific experience suited to the client is assigned to the client. They listen to the circumstances and situation to capture a full understanding and be well-placed to connect with lenders that suit the individual client’s profile.

We work thoroughly and in great detail to seek a solution that will work for our clients and enable them to acquire the assets to operate and grow their enterprise. To assist clients to connect with us, no referral is needed. Clients can simply call us from wherever they are in Australia. We are an Australian company with all brokers based here for quick and direct contact.

  • 20+ years of commercial lending experience.
  • Detailed, individual approach to bad credit sole trader finance.
  • Australian based with services available across the country.
  • Member FBAA, Licensed Credit Provider.


Get the Right Lender Connections for Sole Trader Bad Credit Financing

Critical to achieving an offer a poor rating can be connecting with lenders that do consider such applications. Not all banks and finance companies will consider funding for self-employed operators with payment and creditor issues. We do provide channels for clients to connect with lenders that may be in a position to offer workable funding options.

We are accredited with over 80 lenders in the commercial sector. This includes specialist non-bank lenders that work only via their selected group of brokers. These are channels which are not readily accessible directly by operators. Speak with us about your situation and requirements and we will advise what lender options we may have to assist you.

  • 80+ lenders including specialist lenders for sole trader bad credit finance.
  • Access to financing channels for sole traders with bad credit.
  • Vast lender market coverage, facilitating options and opportunities for sole traders.


Bad Credit Sole Trader Loan Types Available

The self-employed and owner-operators have access to the full selection of commercial funding products and options once their application is approved. These products can be used for the acquisition of plant, machinery and equipment, trucks, commercial vans, cab chassis, utes, SUVs and other vehicles.

The tax deductions applicable to the selected credit product are realised as are all the features and benefits of the funding facility. Being registered for GST is not required for approval but may be seen favourably by some lenders. The selection of credit products vary in regard to accounting method, balance sheet and tax approach and other accounting-based issues. We recommend that clients discuss the options with their accountant.

  • Sole Trader Bad Credit Equipment Finance
  • Bad Credit Truck Loans for Sole Traders
  • Vehicle Financing Bad Credit for Sole Traders
  • Chattel Mortgage Bad Credit Financing
  • Bad Credit Leasing for Sole Traders
  • CHP for Sole Traders with Bad Credit
  • Sole Trader Rent-to-Own with Bad Credit
Unlocking Your Potential: Bad Credit Financing for Sole Traders
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How to Apply for Sole Trader Finance with Bad Credit

To apply for funding, self-employed operators can contact us by phone or submit details online. The expectations for such funding can include additional conditions on the funding; additional security requirements; higher than advertised interest rate; and possible limits on the total amount approved.

On the positive side, the longevity, turnover and trading position can be considered along with the personal profile and finances of the owner. Where these meet lender approval, workable offers may be obtained.

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FAQs
Sole Trader Financing with Bad Credit

Yes. When approved, self-employed entities may select Leasing, Chattel Mortgage or CHP to fund vehicle purchases.

To be eligible for commercial funding, applicants must have a current ABN and ID. GST registration is not essential but may be considered favourably by some lenders.

The expectation for commercial funding applicants with a poor rating could be for a higher rate than the best rate advertised by lenders. All applications are assessed individually by lenders and a rate commensurable with the assessed risk offered.

The security required on loans with poor ratings is subject to lender assessment of the risk. Additional security may be requested via assets, property or personal guarantee.

Yes. When approved for funding, operators can realise all the relevant tax benefits pertaining to the credit product selected.

Commercial vehicles can be financed with Chattel Mortgage, CHP and Leasing. The same products apply to those with issues with their rating as well as those with a good profile.

Yes. Applications for commercial funding can be submitted and approval granted prior to purchase of the goods. An estimate of the amount required will need to be provided along with an indication of the goods to be purchased.

Yes. When approved for Chattel Mortgage funding, self-employed operators with a poor score can include a balloon. The amount of the balloon and other aspects of the funding will be subject to lender approval.

GST is treated differently for the different credit products. With Chattel Mortgage the GST on the goods can be claimed at time of purchase. With Leasing and Rent-to-Own, GST is applied to the monthly payments.

All types of plant, machinery and equipment used in a commercial enterprise may be funded with commercial credit products.

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Our Lenders

Trusted by 60+ lenders Australia-wide

Westpac
Liberty
Automotive Financial Services
Macquarie
Finance One
Commonwealth Bank
Pepper Money
Morris
National Australia Bank
RACV
Get Capital
Prospa
Grow
Selfco Leasing
Scottish Pacific