If you are looking for Truck Finance for New business then Carfund has multiple options available depending on each individual circumstance. We have lenders at our disposal that will lend up to $250,000 for a truck or other piece of business equipment that is used for business purposes.
These Loan are called Low Doc Truck Finance or Low Doc Equipment Finance; they are not No Doc Loans as the lender will need either bank statements and / or a work source letter or contract. These documents are needed for a start up business or new business.
A likely example may be a truck driver who has been employed by the freight company and now would like to become a contractor, and either contract back to his existing employer, or contract to a brand new company. For this scenario we would generally need an ABN registered, 3 months bank statements, and a work source letter or work contract, if you have not started as a contractor as yet.
In this type of situation the lenders are looking for a cash buffer in your account so you can pay the bills while waiting for your first revenue from the new contract, and the valid work source letter. Property ownership and a deposit is not generally needed in these situations, but its case by case and will depend on the overall strength of the deal e.g. Cash in bank, assets, existing liabilities, loan amount ect.
You can also read more about what is needed for Low Doc Truck Finance Here.