Fast Approval
Fast Approval refers to a streamlined finance process enabling quicker loan or asset finance approvals by minimizing documentation requirements. It is commonly used for Low Doc Loans and No Doc Loans. Related glossary terms: Self Declaration, Director’s Declaration, 6–12 Months Trading. Contextual blogs: Low Doc Asset Finance, Fast-Track Asset Finance, Low Doc Cashflow Loans, Cashflow Mistakes SMEs Make, Business Cashflow System.
Why Fast Approval Matters
Fast Approval helps SMEs access finance quicker, reducing waiting periods for funding and improving cashflow. It also impacts Borrowing Capacity and ensures Approval Criteria are met efficiently. Businesses in the Tradie Hub, Truckie Hub, Café Hub, and Whitecoat Hub benefit from this process.
How It Works
- Submit basic application information with key supporting documents.
- Use Self Declarations or Director’s Declarations to verify business info.
- Lenders assess cashflow, turnover, and trading history quickly.
- Approval is given faster due to reduced documentation checks.
- Funds are released more rapidly, improving operational cashflow.
Related Switchboard Resources
- Low Doc Asset Finance
- Working Capital Loans
- Self Declaration
- Director’s Declaration
- 6–12 Months Trading
- Low Doc Cashflow Loans
- Cashflow Mistakes SMEs Make
- Business Cashflow System
- Fast-Track Asset Finance
Official info: business.gov.au