Quick answer
A good funding pack contains ID and business details, recent business bank statements, a recent BAS or financial summary, an aged debtors report if you invoice on terms, a list of assets and existing finance, and a one-page note on purpose and repayment. Prepare it once, keep it current, and tailor a few extra items to the route.
Key points
- Funders trust evidence over description: statements, reports and lists.
- Core documents are the same for most routes; a few extras depend on what you hold.
- A one-page story linking purpose, repayment and evidence speeds everything up.
- Disclose problems early; unexplained surprises cost more than explained ones.
Most funding delays are not caused by hard decisions. They’re caused by missing documents. A funder asks for a statement that you can’t find, a report you haven’t run, a figure that doesn’t match another. Each round trip costs days. A pack assembled in advance turns weeks of back-and-forth into one tidy conversation.
business.gov.au puts it bluntly: applying for a business loan involves “a lot more than just filling out a form”. Here is how to do the “lot more” once, and reuse it.
What goes in the core pack?
These items serve nearly every route:
- Identification and entity details. Photo ID for each director or owner, your ABN, and your ACN if you operate through a company.
- Recent business bank statements from every account your takings and payments pass through.
- A recent BAS or financial summary, plus the most recent tax return if you have one.
- A list of existing finance: lender, balance, repayment, security.
- A one-page story: what you need, what it is for, when and how it will be repaid.
- A list of assets you own and what is owed against each.
If you’ve done these six, you can enquire about any route with confidence.
What extra items does each route want?
| If you’re using… | Add this |
|---|---|
| Unpaid invoices | Aged debtors report, copies of invoices, customer terms |
| Equipment | Supplier quote or ownership proof, serial numbers or VINs, service records |
| Stock | Stock listing with quantities, costs and age; supplier terms |
| Property | Rates notice or title details, mortgage statements, ID for all owners |
| Contracts or orders | The signed document, costings, delivery plan |
| Card or online sales | Merchant or marketplace statements matching deposits |
| Directors’ backing | Personal asset and liability summary if asked |
How do you write the one-page story?
The story is where numbers become a case. Keep it to a page and answer six questions in plain words:
- What does the business do, and for whom?
- What do you need, how much, and by when?
- What is it for, specifically?
- How will it be repaid, and from what source?
- What could go wrong, and what is the backup?
- What do you offer, such as an asset, a flow or a guarantee?
Illustrative example only. “We run a small refrigeration servicing business with commercial customers on 30-day terms. We need funding to cover wages and parts for six weeks while a large contract is invoiced. The invoices are listed in the attached aged debtors report. The funding will be repaid as these customers pay. If one customer pays late, we hold a buffer in a line of credit.”
Notice what is missing: adjectives. Funders respond to specifics.
Which documents catch people out?
- Statements that don’t match the BAS. If a funder compares your reported sales with your deposits and they diverge, be ready to explain why. A mixed personal and business account is a common reason.
- Aged debtors reports with unexplained old items. Add a note against anything over the normal terms.
- Unlodged BAS or returns. The ATO’s due dates are firm: quarterly BAS on 28 October, 28 February, 28 April and 28 July, and monthly BAS on the 21st of the following month. If you’re behind, lodge first; see ATO debt and late lodgements.
- Out-of-date finance lists. A repayment you forgot to mention appears on the statements anyway.
- Credit surprises. The OAIC says you can request a free copy of your credit report. Knowing what is on it means no surprises later.
How should you organise the pack?
A simple structure works:
- Folder 1: Identity and entity.
- Folder 2: Banking, one file per account per month.
- Folder 3: Tax, BAS, returns, ATO statement of account.
- Folder 4: Customers, aged debtors, contracts, key invoices.
- Folder 5: Assets and finance, lists, quotes, existing contracts.
- Folder 6: The story, the one-page note and any forecast.
Name files plainly (year, month, what it is) so anyone can find them.
How can you make the pack stronger?
- Reconcile your main account so the numbers hold together.
- Separate personal spending from business, going forward.
- Run a short forecast, even a simple monthly one.
- Add context to anything unusual: a lost customer, a one-off purchase, a quiet season.
- Tell funders about problems first. An explained issue is a smaller issue.
What is the best order to present the documents?
Lead with the story page, because it frames everything else. Follow with identity and entity documents, then the bank statements, then tax, then the route-specific items. Within each folder, put the most recent first. A funder opening your pack should be able to answer, within a couple of minutes, three questions: who are you, what do you want, and what is the evidence? If those three are easy to find, everything else is detail.
A short cover note listing what is attached, and what is not yet available and why, shows you have thought about completeness. It also prevents the common back-and-forth where the funder asks for something that is already in the pack but buried.
What should you not include?
- Rumours and guesses presented as facts.
- Documents you haven’t read, such as contracts you can’t explain.
- Inflated asset values. Funders will test them, and a gap damages trust.
- Everything. More paper isn’t better; relevant paper is.
What does a good aged debtors report look like?
If you invoice on terms, this is the single most useful document after your bank statements. It lists each customer, each outstanding invoice, the date issued, the amount and how overdue it is, usually grouped into ageing bands. A funder reads it to see how reliably customers pay and how concentrated your book is.
Make yours helpful. Run it as at a recent date. Check that the total matches your accounts. Note beside any item that is long overdue whether it is disputed, being paid in instalments or simply slow. Flag any credit notes outstanding. A report that arrives with explanations attached tells the funder that you are managing your debtors, not hiding from them.
How do you handle sensitive or awkward information?
Include it, with context. If you have a tax arrangement, a past default, a lost customer or a dispute, the funder will find out through statements, searches or conversation. Better that they hear it from you first, with a plan. Put a short, factual paragraph in your story page. Keep it free of emotion and blame, and focus on what has changed.
Equally, protect what you should protect. Share what the funder legitimately needs, not everything in your files. If you are unsure, ask the specialist what is required for your route. Privacy matters on both sides, and a good funder will keep your information to what the deal needs.
How often should you refresh the pack?
Quarterly is a good habit, and immediately before any application. Update the statements, the debtors report, the asset and finance lists and the story page. If you do it each quarter, the work is small, and you can respond to an opportunity or a squeeze in days instead of weeks. Think of it as the funding equivalent of keeping your tools sharpened: it seems like effort until the day you need it.
When should you hand it over?
Once you know what you’re asking for. Many owners find it useful to talk it through first, so the pack matches the route. Tell us what you need and a specialist will say which parts of the pack matter most for your situation.
Ready to put the pack to work?
Our enquiry takes about a minute. It carries no credit check, your details are not scattered across a list of lenders, and a real person reads your answers and calls you. The more accurately you fill in the form, especially on assets, amounts and existing finance, the better the first match. See if you qualify.
Frequently asked questions
How current do documents need to be?
Recent. Bank statements for the most recent months and a BAS for the latest period are typical. A funder will tell you what range they need.
What if my bookkeeping is messy?
Fix what you can quickly: reconcile the main bank account, produce an aged debtors report and list your finance commitments. Be honest about the rest. Clear gaps are easier to deal with than hidden ones.
Do I need a business plan?
business.gov.au says lenders usually want to see one, as an overview of your finances and evidence of a clear path to success. For small asset-backed or invoice-based deals, a one-page summary often suffices.
Should I include personal documents?
Sometimes. Directors' ID is always needed. If a guarantee or property security is involved, expect to provide personal asset and liability details as well.