No doc business loans
A no doc business loan is one assessed without financial documents — no tax returns, no BAS, no management accounts and no valuation. HomeSec lends $20,000 to $5,000,000 against Australian real property on that basis, to 80% LVR residential and 70% commercial, settling in as little as 24 hours on a clean file. You still prove who you are and declare the business purpose; what you do not have to prove is the last two years of trading.
See if you qualify in sixty seconds. No credit check to apply, no financials, no payments for the first six months. That's the HomeSec Advantage.
See if you qualifyWhat "no doc" actually means
It means no financial documents. No tax returns, no BAS, no profit and loss, no management accounts, no bank statements, no accountant's letter and no valuation. That is the list of things a bank would spend three to eight weeks collecting and verifying, and it is the reason a bank takes three to eight weeks.
It does not mean no documents. Anyone telling you a secured loan can be written with no paperwork at all is describing something that does not exist in Australia. Here is the whole list of what we do need:
- Photo identification
- The ordinary 100-point check. Every lender in Australia does this one.
- Your ABN or ACN
- To confirm the borrowing entity exists and who is behind it.
- The property details
- Address and title particulars for the security. We run the title search.
- A signed business purpose declaration
- The document that makes this business lending rather than consumer credit. It is not a formality — it is the basis on which the loan sits outside the NCCP Act.
- What the money is for, and how it gets repaid
- Said out loud on the phone, not evidenced on paper. The exit is the part we actually assess.
Why financials are the wrong evidence here
A set of accounts describes the last two years. For a great many of the businesses that call us, the last two years are the least useful thing anyone could look at: a builder who has just had a progress claim certified, a company that has finished paying down an ATO arrangement, an operator whose figures still carry a year nobody is going to repeat.
An algorithm cannot see why the last two years look the way they do. A person can, and that is the whole reason files we write are ones a scorecard would have rejected.
So we assess two things instead. What is the property worth, and how does this loan get repaid. If both answers are sound, the accounts would not have changed the decision — and if the exit is not sound, no set of accounts would have rescued it.
The trade you are making
No doc lending is faster and it is available when bank lending is not. It also costs more than a bank, because it is secured on property and priced per file rather than against a salary and a credit score. There is a real exchange happening and it is worth naming: you are paying for speed and for the absence of a document collection process. This is how it is priced, and every fee that exists.
The honest limitation is the same one that applies to everything we write. This solves a timing problem, not a solvency problem. If a business is structurally losing money, borrowing against the family home without anyone looking at the accounts is precisely how a bad position becomes an unrecoverable one. We decline files on that basis regularly, and we would rather say it in the first ten minutes than in a default notice.
Low doc, no doc, self-employed — where each fits
| Full doc (a bank) | Low doc | No doc (HomeSec) | |
|---|---|---|---|
| Income evidence | Two years of accounts, tax returns, BAS | Self-declaration, accountant's letter, bank statements | None |
| What is assessed | Serviceability from the accounts | Serviceability from the substitute | The property and the exit |
| ABN / GST age | Two years | Commonly one to two years | No requirement — start-ups considered |
| Valuation | Always | Usually | Never |
| Time | Three to eight weeks | One to three weeks | As little as 24 hours |
| Suits | Clean accounts, time to wait | Self-employed with some evidence | Equity in property and a reason the accounts do not describe |
Lender categories described generally; individual lenders vary.
Who no doc loans suit
- The self-employed and sole traders
- Income that arrives unevenly and is netted against expenses does not survive a serviceability test. The property does.
- A business whose last year was not typical
- A bad year that will not repeat, or a good one not yet in the accounts. Either way, the accounts are the wrong evidence.
- A new entity, or one that has just restructured
- New ABN, new company, a trust set up in March. Nothing to show and nothing to hide.
- Anyone whose accountant is three months behind
- Lodgements pending is not a credit event here. It is the ordinary state of a busy business.
- A borrower who has been declined for low doc
- Low doc still tests serviceability, from thinner paper. If that is where it failed, it does not fail here.
From the call to the money
Tell us the deal
Amount, purpose, timing, the property and how the loan gets repaid. A Lending Manager gives you an indicative answer on that call — usually in minutes.
Minutes
Conditional approval
Photo ID, a rates notice and your most recent mortgage statement. That is the whole list, and it takes about fifteen minutes.
About 15 minutes
Funds released
As little as 24 hours from a clean, complete scenario. Paid where you tell us — to your account, or straight to the ATO.
As little as 24 hours
What it costs
Priced per file, on the property, the position, the amount and the exit. No rate is published, because a rate with "from" in front of it is the best file's number. How it is priced, and every fee that exists.
Business purpose is not a technicality
HomeSec provides credit wholly and exclusively for business and investment purposes. Credit provided for those purposes is not regulated under the National Consumer Credit Protection Act 2009 (the NCCP Act), and the protections available to consumer borrowers do not apply.
That is why the declaration is on the list above. It is the document that places this lending outside the NCCP Act, and signing it while intending to use the money for personal or domestic purposes is not a paperwork slip — it changes what the loan legally is. If any part of what you need the money for is personal, say so on the call and we will tell you straight away whether we can help.
Questions we get on the phone
Does 'no doc' mean no paperwork at all?
Why don't you need my financials?
Is a no doc loan assessed at all?
Does my credit file matter?
Are no doc loans more expensive?
What is the difference between a low doc and a no doc business loan?
Is a no doc loan the same as a self-employed loan?
Does my ABN have to be a certain age?
Can I get a no doc loan with bad credit?
Can I get a no doc loan to buy a property?
Not a call centre, and not a form that emails you back. Tell us the amount, the purpose and what property is available, and you will get an indicative answer on that call. 1300 93 83 87, Mon–Fri, 8:30am – 5:30pm Melbourne time.
Private lending since 2004. No doc describes how a file is assessed — these describe where we sit on the title.
See if you qualify in sixty seconds
Three short questions, no credit check to apply and no financial statements. A Lending Manager reads it and calls you back with a real answer — not a call centre, not an algorithm.
That's the HomeSec Advantage.
Reviewed by Catriona Anderson, General Manager