For many machinery operators and small businesses, gathering two years of tax returns for a finance application isn't practical — especially when your accountant is six months behind, your business is seasonal, or you simply need to move quickly on a machine that's just come up for sale.
Low doc machinery finance was built for exactly this situation.
What Is Low Doc Machinery Finance?
Low doc (low documentation) machinery finance is a commercial lending product that lets businesses borrow for heavy plant and equipment without the full financial documentation required by banks. Instead of tax returns, BAS statements and audited financials, lenders accept an ABN declaration, driver's licence and recent bank statements. No real estate or property security is required — the machinery itself serves as the collateral.
Low doc machinery finance is available up to $500,000 with most lenders on the Overdrive Funding panel. Some specialist lenders can extend approval to higher amounts — up to $1 million or more — when supported by BAS statements or additional bank evidence. Our team can advise on your specific situation and which lenders offer higher thresholds.
What Documents Do I Need for Low Doc Machinery Finance?
- ABN and GST registration details
- Driver's licence or passport
- 3–6 months of business bank statements
- Signed ABN declaration (confirming the loan is for business use)
- Details of the machine — make, model, year, price
No tax returns. No BAS statements. No profit and loss. No balance sheet.
Who Qualifies for Low Doc Machinery Finance?
To qualify for low doc machinery finance, you generally need:
- Active ABN — some lenders accept 1-day ABN
- GST registration for at least 2 years (for zero deposit options)
- Clean or acceptable credit history
- Bank statements showing consistent cash inflows
Businesses with GST registration under 2 years can still access low doc machinery finance — often with a small deposit of 10–30%.
What Machinery Can Be Financed Low Doc?
Low doc finance is available for virtually any type of heavy machinery or plant equipment used for business purposes, including:
- Excavators, dozers and graders
- Wheel loaders and skid steers
- Forklifts and telehandlers
- Cranes and elevated work platforms
- Agricultural equipment — tractors, harvesters, chaser bins
- Compactors, pavers and rollers
- Concrete equipment and pump trucks
- Landscaping and earthmoving attachments
Low Doc vs Full Doc Machinery Finance — Which Should I Choose?
Full doc finance typically offers a slightly lower interest rate because the lender has a complete picture of your financials and takes on less risk. Low doc finance trades a slightly higher rate for speed and simplicity — no waiting on accountants, no chasing paperwork.
For most machinery purchases, the difference in repayment between low doc and full doc rates is minimal over the loan term — and the time saved is significant. Overdrive Funding can show you both options side by side so you can make an informed decision.
Our compare machinery finance page sets out rates, deposits and how approvals work end to end.