SimplyFunded Business loan eligibility criteria

Check out the common criteria for a SimplyFunded unsecured business loan before you apply, including trading history, revenue, ownership and documents.

Check eligibility

Check your basic fit

These are guidelines, not approval, or a guarantee of funding. We assess each application on its own information and circumstances.

Minimum Requirements

Start with these four checkpoints. If they describe your business, you can move on to the application and provide the supporting information.

An active business

An Australian ABN or company registration in the applicant's name.

$5,000+ monthly revenue

Regular revenue from genuine business trading activity.

The right trading history

At least 6 months for homeowners or 12 months for non-homeowners.

Recent records

Six months of business bank statements in PDF format, plus basic business details.

Different applicants, different checks

Home ownership can be one factor in the assessment. You still need to show active business trading and the ability to manage repayments.

Homeowner criteria

Home ownership can be one factor in the assessment. You still need to show active business trading and the ability to manage repayments.

  • At least 6 months of business trading
  • 25% or more shareholder ownership where applicable
  • $5,000 or more in monthly business revenue
  • Adverse credit may be considered
  • Any default judgment must be settled or managed under a payment plan

Non-homeowner criteria

Non-homeowner applications may require a longer trading history and stronger evidence of business performance.

  • At least 12 months of business trading
  • 25% or more shareholder ownership where applicable
  • $5,000 or more in monthly business revenue
  • Profit and loss information may be requested
  • A default judgment must be settled or managed under a payment plan

Prepare before you apply

A complete application helps us understand your business, funding purpose, and repayment capacity.

Have your information ready

For an unsecured business loan, we review your business structure, trading history, revenue and recent account conduct.

Explain what the funds are for and have your bank statements and registration details ready. Final approval and terms are subject to assessment.

  • Company name and registration number
  • Director name, address and date of birth
  • Six months of business bank statements in PDF format
  • The amount you need and what the funds are for
  • Details of existing business loans or repayment commitments

SimplyFunded Restricted industries

SimplyFunded explicitly excludes the following industries from receiving funding:

Religious organisations
Adult industries
Financial institutions
Non-profit organisations

If you are unsure whether your business falls within a restricted industry, you can contact our team before applying. Eligibility and approval are subject to our lending criteria.

Think you may be eligible?

Start an application online and provide a few details about your business. Final approval, loan amount, fees, and terms are subject to assessment.

Apply online

Frequently Asked Questions

How long does my business need to be trading?+

Homeowners may be considered for 6 months of trading. Non-homeowners generally need at least 12 months of trading. All applications are subject to assessment.

How much monthly revenue do I need?+

The guide indicates minimum monthly business revenue of $5,000. Revenue must be supported by recent business bank statements and other information requested during the assessment.

Can I apply if I have adverse credit?+

Homeowners may be considered where adverse credit is present. Non-homeowner applications are generally considered where a default judgment has been settled or is being managed under a payment plan. Credit history is only one part of the assessment.

What documents do I need?+

You will generally need your company name and registration number, director details, and 6 months of business bank statements in PDF format. Additional documents may be requested depending on your application.

Want to compare options first? Visit our unsecured business loans guide.