Through non-bank lenders. Banks typically require 2+ years of trading history before they will look at you. The OverdraftMe lender panel includes lenders that approve from 6 months ABN age, with $6,000/month revenue and an Equifax score of 550 or above.
Why Banks Say No at 6 Months
Banks use automated credit scoring models that require at least 2 years of financials, often including 2 full-year tax returns, BAS statements, and profit-and-loss reports. At 6 months trading, you simply cannot provide this documentation.
It is not that banks think your business is bad. Their systems are not built for new businesses. They need historical data that does not exist yet. This is why non-bank lenders exist: they fill the gap that banks leave.
Key point: A bank decline at 6 months does not mean you are not eligible for finance. It means the bank's credit policy does not fit your profile yet. Non-bank lenders use different criteria entirely.
What Non-Bank Lenders Look For Instead
Non-bank lenders on the OverdraftMe panel assess new businesses differently. Instead of tax returns and financials, they focus on these factors.
- ABN age: Minimum 6 months active. Some lenders accept 3 months with strong revenue.
- Monthly revenue: Minimum $6,000/month through your business bank account.
- Credit score: Equifax 550+ for most lenders. Specialist lenders go lower.
- Bank statement quality: Clean transactions, no dishonours, no gambling, consistent deposits.
- Industry: Some industries (hospitality, retail, trades) are viewed more favourably than others at the early stage.
6-month business finance at a glance
What Documents Do You Need?
This is where new businesses get a real advantage with non-bank lenders. The documentation requirements are minimal.
- 6 months of business bank statements (downloaded from internet banking, PDF format)
- Photo ID (driver's licence or passport)
- ABN registration details (we can look this up for you)
That is it. No tax returns. No BAS. No profit-and-loss statements. No accountant letter. The bank statements tell the lender everything they need to know about your revenue, expenses, and cash flow patterns. Read more on the no tax returns page.
Worked Example: Electrician, 8 Months Trading
Profile: Sole trader electrician, ABN registered 8 months, $18,000/month revenue, Equifax 610, no defaults.
Application: Submitted 6 months bank statements and ID through OverdraftMe.
Outcome: Approved for $40,000 revolving overdraft at 19% p.a. within 24 hours.
Costs: $800 establishment fee, $600/year line fee. Interest only on drawn funds.
Use: Materials and tools for larger jobs, bridging the gap between invoicing and getting paid.
6 months trading? Check your eligibility now.
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Get my indicative quote →How Much Can You Borrow?
The amount available depends primarily on your monthly revenue. Here is a rough guide for businesses at the 6-12 month stage.
| Monthly Revenue | Unsecured Limit | With Property |
|---|---|---|
| $6,000-$10,000 | $5,000-$25,000 | Up to $100,000 |
| $10,000-$20,000 | $15,000-$50,000 | Up to $200,000 |
| $20,000-$40,000 | $30,000-$100,000 | Up to $350,000 |
| $40,000+ | $50,000-$150,000 | Up to $500,000 |
Property ownership significantly increases your borrowing capacity, even at 6 months trading. If you or a director owns residential or commercial property, it can be used as additional security to access higher limits and better rates.
Tips to Improve Your Chances at 6 Months
- Keep your bank account clean. No gambling, no dishonoured payments, no overdrawn days in the 90 days before you apply.
- Show consistent revenue. Lenders like to see stable or growing monthly deposits. Large gaps between deposits raise questions.
- Separate business and personal accounts. Mixed accounts make assessment harder and often reduce your approved amount.
- Pay existing debts on time. Your repayment history on other products (phone plans, personal loans, credit cards) is visible on your credit file.
- Use a broker. At 6 months trading, lender selection is critical. The wrong lender will decline you. The right one will approve you. A broker knows which is which. See our eligibility checker.
- Have an ATO plan if needed. If you have early ATO debt, set up a formal payment plan before applying.
Frequently Asked Questions
Very few lenders will consider businesses under 6 months old. Some specialist lenders may look at 3 months with strong revenue ($10,000+/month) and a clean credit file, but options are limited and rates are higher (22-28% p.a.).
No. At 6 months trading you will not have filed a full-year tax return yet. Non-bank lenders use 6 months of business bank statements instead. No tax returns, no BAS, no financials required.
Typically $5,000 to $150,000 unsecured. The exact amount depends on your monthly revenue. A rough guide: you can borrow 2-3x your average monthly revenue. So $15,000/month revenue could qualify for $30,000-$45,000.
Expect 14-25% p.a. with non-bank lenders. Businesses with 6-12 months trading typically pay rates at the higher end (18-25%). After 12 months of clean repayment history, you can refinance to a lower rate.
Yes. All non-bank business lending in Australia requires a personal guarantee from the directors or business owner. This is standard across the industry, not specific to new businesses.
General information only. Not financial advice. Credit subject to lender assessment. All rates, fees and terms quoted are indicative only and subject to change based on your individual circumstances, credit profile and lender policy. OverdraftMe is a credit representative of Lend & Loan Pty Ltd (ACL 511092).
New business? Get finance from 6 months.
Free broker service. Bank statements only. No tax returns needed.
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