Operating as a sole trader doesn't shut you out of bus finance. Many lenders on Overdrive's panel are comfortable funding a minibus, shuttle or charter bus for an ABN-holding individual, provided the numbers stack up.
Can a sole trader get bus finance?
A sole trader with an active ABN is one of the most common business structures we see. Lenders assess the trading history behind the ABN, the vehicle being purchased and your ability to service the repayments rather than penalising you for not being a company. Whether you run school runs, an airport shuttle or occasional charter work, eligible applicants can often be considered.
What do lenders check for sole traders?
Expect lenders to review how long your ABN has been active, whether you're GST registered, and your personal and business credit position. A tidy repayment record and evidence of ongoing bus work help. Subject to lender criteria, some funders will accept simplified income evidence for sole traders instead of full financials.
Why use a broker as a sole trader?
As a sole trader you don't have the back office of a large operator, so having Simon Kendrick compare 80+ banks and non-bank lenders on your behalf saves time. He matches your situation to the funders most likely to say yes, potentially on competitive terms.
Ready to see what a bus repayment might look like for your sole trader business? Request an obligation-free quote from Overdrive. It's a soft check that won't affect your credit score, and Simon will do the shopping around for you.
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Free quote in minutes, decisions in 24–48 hours. No credit-score impact to enquire.