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Key Takeaways
- Low doc machinery finance allows eligible ABN holders to borrow up to $500,000 without tax returns, BAS or financial statements.
- You typically need just your ABN, driver's licence and 3–6 months of recent business bank statements.
- Low doc rates are typically 1–2% higher than full doc equivalent — a fair trade for speed and simplicity.
- Same-day conditional approvals are common for straightforward low doc applications.
- Available for excavators, bulldozers, cranes, forklifts, loaders, agricultural machinery and all other plant and equipment.
- Machinery finance deals: We guarantee the best deal available in the market and our services are free — we're paid a "referral fee" by the lender after settlement, no cost to you.
Low doc machinery finance is one of the most practical tools available to Australian businesses. It allows ABN holders to borrow up to $500,000 for machinery and equipment purchases without providing the full financial documentation that mainstream banks require.
For earthmoving operators, civil contractors, farmers, manufacturers and mining services businesses who are profitable and busy but do not have their financials in perfect order — or simply prefer not to produce them for a machinery purchase — low doc opens up the same lender market as full doc at a modest rate premium.
What Does Low Doc Actually Mean?
Low documentation (low doc) finance refers to loan applications where the applicant declares their income and ability to service the loan rather than proving it through historical tax returns and financial statements. The lender relies on the applicant's declaration, supported by evidence of business trading activity through bank statements.
For machinery finance, the typical low doc documentation requirements are:
- ABN — active for at least 12 months (some lenders accept shorter periods)
- GST registration — typically 12+ months, though some lenders accept 6 months
- Driver's licence or other identity document
- 3 to 6 months of recent business bank statements showing trading activity
- Signed income declaration (some lenders require this; others do not)
How Much Can I Borrow Low Doc?
The standard low doc limit for machinery finance is $500,000. Above this amount, lenders typically require full documentation. For purchases above $500,000, some lenders offer mid-doc options requiring BAS statements and possibly a one-year profit and loss but not full tax returns.
What Types of Machinery Qualify for Low Doc?
- Excavators, bulldozers, graders and earthmoving plant
- Cranes — mobile, crawler and pick-and-carry
- Forklifts and elevated work platforms
- Tractors, harvesters and agricultural machinery
- Mining equipment and drilling rigs
- Crushing and screening plant
- Generators and power equipment
- Woodworking and manufacturing machinery
- CNC machines and fabrication equipment
- Forestry equipment — harvesters, forwarders, skidders
Low Doc Machinery Finance Rates
Low doc machinery finance rates typically sit 1 to 2% above full doc equivalent for the same lender. In practice, this means rates start from around 7% to 9% for eligible applicants — still significantly below what most business owners expect.
Can I Get Low Doc With a New ABN?
Most standard low doc lenders require a minimum ABN and GST registration period — typically 12 months. However, some specialist lenders on our panel consider low doc applications from businesses with as little as 6 months of ABN history, particularly for well-known assets with strong resale value and a deposit available.
How Quickly Can Low Doc Machinery Finance Be Approved?
Same-day conditional approvals are common for straightforward low doc applications. Formal approval and settlement typically follow within 1 to 3 business days once the lender has the required documents.
Get a Free Low Doc Assessment
At Overdrive Funding, we arrange low doc machinery finance through 80+ lenders including specialist low doc funders. We compare rates and terms on your behalf — our service is free, paid by the lender after settlement. Start your enquiry today or call Simon directly for a free assessment.