SimplyFunded business loan requirements for Australian SMEs
Understand SimplyFunded's business loan requirements, including eligibility, trading history, revenue evidence, ABN details and documents for Australian SME funding applications.
Check eligibilityAm I eligible?
You probably are, you just need:
- An active ABN or ACN
- 6+ months in business
- $5,000+ in monthly revenue
SimplyFunded business loan requirements for Australian SMEs
SimplyFunded business loan requirements are based on the business's trading history, revenue, ABN details, account conduct, funding purpose and ability to manage the proposed repayments. We provide business-purpose funding for Australian SMEs, subject to application assessment and final terms. The specific criteria for unsecured funding are covered on our dedicated page for unsecured business loans.
This page explains the information SimplyFunded may request before assessing a business loan application. If your application includes a guarantor, review the guarantor's potential liability, the maximum exposure and the circumstances in which the guarantee may be called before signing. Businesses looking for a simpler document process can also review the low doc business loans guide.
What does SimplyFunded need for a business loan?
SimplyFunded generally looks for at least 6 months of trading, around AUD $5,000 or more in monthly revenue, an active ABN, a clear business reason for borrowing and recent evidence of business activity. These are assessment guidelines rather than a guarantee of approval. Start with the SME loan guide if you are still deciding which funding option fits your business.
For a SimplyFunded application, prepare recent business bank statements, identification, business registration details, invoices or quotes for a specific purchase and information about existing loans or leases. Sole traders should make business income, expenses and owner drawings easy to separate, while companies should keep the applicant, ABN, and trading account details consistent.
Before applying to SimplyFunded, compare the expected repayment with the business's ordinary cash flow. Review the business loan rates, test the amount and term with the business loan calculator, and prepare the information requested in the online application.
SimplyFunded business loan eligibility criteria
At least 6 months of trading history for limited companies and sole traders.
Minimum AUD $5,000 monthly revenue from business trading activity.
Australian ABN or business registration in the applicant's name.
A clear business-purpose reason for the funding.
Recent bank statements or trading evidence to verify revenue.
Consistent account conduct without unexplained recent pressure.
Documents SimplyFunded may request
ABN and business registration details.
Recent bank statements for the main business trading account.
Identification documents for the business owner or directors.
Invoice or quote if funding is for a specific purchase or contract.
Existing loan or lease statements if the business has current commitments.
How SimplyFunded assesses different loan types
Unsecured loans: assessed on revenue, trading history and cash flow without requiring property or asset collateral.
Low doc loans: fewer formal documents may be requested, but bank statements or other trading evidence can still be required.
Vehicle or equipment loans: the asset purpose, cost and useful life are reviewed alongside business revenue and affordability.
Short term funding: speed depends on complete information, not a faster assessment process.
Do business loan applications need a deposit?
An unsecured business funding request is assessed against business performance, purpose and repayment capacity rather than a deposit on a specific asset.
A vehicle, equipment, property or acquisition facility may have different contribution or deposit requirements depending on the provider and structure.
A no-deposit structure can still include interest, establishment fees and other disclosed costs, so review the complete repayment and cash-flow impact.
Business loan requirements in application order
| Check | Prepare | Why it matters |
|---|---|---|
| Business identity | ABN or ACN, legal name, applicant and trading-account details | Confirms the application matches the Australian business being assessed. |
| Trading evidence | Recent business bank statements and a clear revenue pattern | Shows current activity, account conduct and whether revenue supports the request. |
| Funding purpose | Amount requested, specific use and an invoice or quote where relevant | Connects the loan to a practical business need and expected repayment source. |
| Affordability | Existing loans, leases, tax commitments and the proposed repayment | Helps test whether the new commitment fits ordinary business cash flow. |
Check your eligibility
SimplyFunded requires at least 6 months trading history and AUD $5,000 minimum monthly revenue. If your business meets these criteria, you can start an application online.
Related funding options
You can also review business loan FAQs or speak with the team through the contact page.
Ready to check your eligibility?
Prepare your business details and funding purposes, then apply online to check whether SimplyFunded funding may suit your business. Applications are subject to assessment.
SimplyFunded generally looks for at least 6 months of trading, around AUD $5,000 or more in monthly revenue, an active ABN, recent business activity and a clear business funding purpose. These are assessment guidelines, not a guarantee of approval.
Prepare your ABN or ACN details, recent business bank statements, information about revenue and existing commitments, and a clear explanation of the funding purpose. An invoice or quote may help when the funds are for a specific purchase.
SimplyFunded generally looks for at least 6 months of trading history. A newer business may need additional evidence of revenue or forward contracts, and all applications remain subject to assessment.
Unsecured business funding does not require property or a major business asset as collateral. The application is still assessed on trading history, revenue, account conduct, existing commitments and repayment capacity.
Eligible business funding may support working capital, stock, wages, supplier invoices, tax, marketing, repairs, equipment-related costs, project mobilization or a defined growth activity. The purpose should be clear and connected to a realistic repayment source.
No. The criteria are general guidelines. Approval and final terms depend on the complete application, supporting information and assessment of affordability.