The self-employed challenge
Banks assess self-employed income conservatively. The right lender makes all the difference.
Self-employed borrowers are not higher risk - they are different risk. Banks with rigid serviceability models often decline or under-assess self-employed income. Lenders who understand business income, trust distributions, director fees and irregular cash flow assess your position more accurately. Lendology identifies those lenders before lodging a single application.
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ABN history - Most lenders require at least 2 years of ABN registration. Some consider applications from 12 months. Lendology knows which lenders accept shorter trading histories.
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Income structure - Sole trader, company, trust, PAYG director - each is assessed differently. Lendology understands all structures and which lenders suit each.
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Low-doc options - If your tax returns are not finalised or declared income doesn't reflect your actual capacity, some lenders offer low-documentation options. Lendology assesses whether this is appropriate.
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Industry knowledge - Some industries are treated more conservatively by certain lenders. Lendology knows which lenders are most favourable for your specific business type.