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Loan readiness score
Eight questions about your trading, paperwork, credit, security and debts. You get a readiness score, the two things to fix first, and the loan structures that usually suit a business like yours.
What the loan readiness score checks
Lenders rarely decline a business for one reason. More often an application stalls because several small things add up: a BAS that wasn't lodged, statements with a few dishonours, a purpose that wasn't clear, a second short-term loan nobody mentioned. The readiness score looks at the eight areas that most often decide how smoothly an application runs, and scores each from nought to three.
| Area | Why it matters | Quick fix |
|---|---|---|
| Time trading | More months of statements give a lender more to assess | Use security or keep the amount modest |
| Turnover | Unsecured limits are usually sized on it | Ask for an amount your deposits can carry |
| BAS and tax lodgements | Late lodgements suggest the books are behind | Lodge first, even if you can't pay yet |
| Credit history | Marks need an explanation and a fix | Order your free credit reports |
| Security | Opens larger amounts and longer terms | Know your property equity or asset value |
| Documents | A complete file is assessed faster | Six months of statements, ID, ABN |
| Existing debts | Stacked short-term loans are a red flag | Consolidate or set up a payment plan |
| Purpose | A clear job reads better than a round number | Write down the amount and the payback |
Two fixes that move the needle most
Get lodgements current. The ATO's payment plan rules let many businesses with debts of $200,000 or less set up a plan online, but lodging comes first. An up-to-date BAS history and a plan in place turn an ATO debt from a deal-breaker into something a lender can work with. Our verdict on the best way to pay off an ATO debt compares the options.
Tidy the statements. Unsecured and cash-flow lending is read mostly from business bank statements. Fewer dishonours, steady deposits and no unexplained transfers make a real difference. If you have a few marks on your credit file as well, read the best business loans for bad credit before you apply anywhere.
From score to structure
The structures suggested with your score follow the same logic as our verdicts: property equity points to a property-secured loan, a purchase of equipment points to asset finance, steady trading without property points to an unsecured loan or a line of credit. For a full ranking, run the Best Biz Loan Finder.
When you're ready, start a 60-second enquiry. There is no credit check when you first enquire, your details aren't passed to a crowd of lenders, and answering the form as accurately as you answered this scorecard is the best way to be matched properly first time.
Readiness score questions
Does the loan readiness score tell me if I'll be approved?
No. It measures how prepared your business is to apply and which structures usually suit businesses that answer the way you did. Approval depends on a lender's full assessment of your figures, security and history, which happens only if you choose to apply.
What score do I need before applying?
There is no pass mark. A high score means your file is likely to be straightforward to assess. A lower score doesn't rule you out; it points to the items worth fixing first, or to structures, such as secured or asset finance, that rely less on the weak spots.
Why do lodgements and documents count so much?
Because they decide how quickly and confidently a lender can read your business. Up-to-date BAS, six months of statements and current financials remove the guesswork. Missing paperwork is one of the most common reasons an application stalls.
Will using the readiness score affect my credit file?
No. The score runs in your browser and nothing you select is sent anywhere. Even when you enquire with us, there is no credit check at that first stage.
How can I improve my score quickly?
Lodge any overdue BAS, order your free credit reports, gather six months of business bank statements and ID, and write down the exact amount and purpose. Those four steps lift most scores within a couple of weeks.
Ready, or nearly? Let's look at the real options.
One short enquiry, no credit check to ask, and one specialist who tells you honestly what's possible now and what would change the answer.
No credit check to ask
Finding out which structure suits you doesn't leave a mark on your credit file. A check only comes up if you choose to go ahead.
Not sprayed to a crowd
Your enquiry isn't auctioned off to a list of lenders. One specialist works out the best fit and talks you through it.
A real person, honest verdict
Someone reads your answers and calls you. Fill the form in accurately and the first option you hear is far more likely to be the right one.