Free tool
Approval readiness checklist
Before you try again, see how prepared your next business loan application really is. Tick what you already have; the gaps appear in the order worth fixing.
Your readiness
0%
Start ticking the items you already have.
Close these gaps first
A preparation guide only. It isn't a credit assessment or an offer of finance.
Why preparation matters more after a decline
A first application can survive a missing document or two. A second one, after a knock-back, often can't. The next lender may see the earlier credit enquiry and will want to understand what's changed. Turning up with complete, tidy information shows you've dealt with whatever tripped the first application.
This checklist reflects what alternative lenders actually ask for. Identity and business details come first because nothing moves without them. Bank statements, tax lodgements and your ATO position follow because they're where most declined files run into trouble. A written explanation of past problems and a clear exit plan round it out. Private and short-term lenders in particular want to know exactly how they'll be repaid.
What the gaps list is telling you
The gaps are sorted by weight, so the first one is usually the item most likely to block any lender. If your top gap is an unknown tax position or unchecked credit reports, deal with that before anything else. If it's something like a purpose statement, you're close.
When you're ready, start a short enquiry. You can also run the Decline Decoder to see which routes fit, or read whether to reapply straight away.
Checklist questions
What does the readiness score mean?
It's a weighted tally of the things lenders most commonly ask for after a decline. Items that tend to stop a file outright, such as unknown tax debt or no exit plan, count for more. It's a preparation guide, not a prediction of approval.
Do I need everything ticked before I enquire?
No. Plenty of people enquire with gaps, and part of our job is telling you which gaps matter for the route that suits you. The checklist just helps you avoid surprises.
Is this different for secured and unsecured loans?
A little. Property-secured lenders focus more on the security, the equity and the exit plan. Unsecured and cash-flow lenders lean harder on bank statements and recent trading. The core items apply to both.
Is my information saved?
No. The checklist runs in your browser and nothing is sent or stored.
Ticked most of it? You're ready for a proper conversation.
One short enquiry, no credit check when you first enquire, and a real person who calls you back with options that fit.
No credit check to enquire
Not sprayed to lenders
A real person reads it