When applying for business loans and finance, the more information you can supply the better. We explain exactly what you'll need.


Business loan documents – what's required

Starting a small business or looking to expand? Applying for finance or a business loan can be a complicated process, as business lenders require specific information. Get your documentation right the first time with these four key items, so your lender can assess the right loan for you.

1. A business plan

As part of their business loan criteria, lenders need to see a business plan that outlines everything from your products and/or services to information about your competitors. Your business plan should answer the following questions:

  • What do you supply?
  • What’s your potential?
  • Where do you sit in the market?
  • How well do you understand the market?

2. Cash flow projections

The loan application process will also assess your cash flow projection. This looks at the current cash flow situation of your business and the kind of cash you need to operate. You'll need to have this information to hand:

  • How much cash is coming in?
  • How much cash do you need to run the business (i.e. pay wages, etc.)?


3. Details of your security

Lenders will also need to secure your business loan, usually with property or another type of asset. You'll need:

  • documents that show ownership of assets, such as residential premises
  • any other assets, including stocks and shares.

4. Statement of position

You'll find a customer statement of position template (PDF, 76KB), opens in new window on our site to assess your financial statement of position. It'll typically answer these questions:

  • What do you own?
  • What do you still owe?
  • What’s the net difference?

Prior to lodgement

As with any large business decision, you'll want to be informed as much as possible before you lodge an application. That's why it's a good idea to use tools like our business loan calculator to assess what you might need to borrow. It can also help determine the types of repayments you'll have to make before starting the application process.

Watch our short video as David Koch finds out what's involved in applying for business finance.

Have business idea? Find out if your numbers stack up. NAB Financial Snapshot will help you prepare a simple estimate of some key financial details for your first year of business.

Important information

The information contained in this article is correct as of July 2018 and is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.