What do you need to apply for a business loan?

When applying for a business loan, there are a number of documents you may be asked to provide, including financial statements, proof of income, identification and more.

A business loan or overdraft could help you make your next purchase, manage your cash flow or expand your business.

Key business loan requirements

When applying for a business loan, you (and any directors, partners or guarantors) may be asked to provide:

  1. Financial statements, preferably prepared by an accountant
  2. Proof of individual income
  3. Bank statements
  4. Identification
  5. A few extra things if you’re a start-up business

These documents can help your financial provider understand your business' financial situation.

There are different types of business funding you can apply for, including business loans, overdrafts and credit cards. If you're applying for asset finance, you may need to show extra information

Financial statements

Your financial statements will generally consist of a balance sheet and income statement. They may also include a statement of cash flow. They'll be used to determine if you can meet your existing and proposed repayments.

You may also be asked for your latest tax returns, business activity statements (BAS) or print-outs of statements from your Australian Taxation Office (ATO) portal. If there are any trusts or self-managed super funds (SMSFs) related to your business, you may need to provide additional documents, so it's best to check with your lender about what you'll need. 

Proof of individual income

 If you're a director or shareholder of a company,  you’re likely to be asked about our personal income. You'll need your two most recent individual tax returns and an ATO notice of assessment.

If you earn other income unrelated to your business, you may want to provide this information as well. For example, you could bring a rental statement if you own an investment property.

Bank statements

You’ll need to provide your latest bank statements – either paper or electronic copies. To get a complete picture of your financial position, lenders will often ask for details of:

  • your personal income
  • your business income
  • your savings
  • any loans and credit cards you might have with another financial institution

If anyone is guaranteeing the loan, they'll also need to provide this information. 


If you're applying for a loan as a new customer, you’ll need to provide identification such as your driver’s licence or passport. You might also need to bring in your trust deed, partnership agreement or company registration, depending on your business structure.

If you're applying for a loan with a lender where you're already an existing customer, you probably won’t need to complete this step.

A few extra things for start-ups

If you're yet to start your business or don’t have 12 months of trading history, there are a few extra things you may need to provide, including:

Visit our small business hub for more guides, tips and advice for every stage of your business journey.

Want to move your business forward with lending that works for you?

Things you should know

The documents listed in this article are not exhaustive and you may be asked for additional information. This will depend on your business circumstances such as industry, structure and financing needs. This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. You should read and consider our Terms and Conditions for Business Finance before making a decision about these products. Applications for finance are subject to the Bank’s eligibility and suitability criteria and normal credit approval processes.