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.
Am 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 additional support, review the guarantor-supported SME loan information carefully. 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 an 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.
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.