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Self Declaration

A Self Declaration is a formal statement by the business owner confirming that the provided financial or personal information is accurate. Lenders rely on this declaration for Low Doc Loans, No Doc Loans, or other streamlined finance applications. Related glossary terms include Turnover, Cashflow, and Director’s Declaration. Contextual blogs: Low Doc Asset Finance, Fast-Track Asset Finance, Low Doc Cashflow Loans, Cashflow Mistakes SMEs Make, Business Cashflow System.

Why Self Declaration Matters

Lenders use self declarations to verify reported cashflow and business information, reducing risk and documentation requirements. It affects Borrowing Capacity and ensures compliance with Approval Criteria. SMEs across the Tradie Hub, Truckie Hub, Café Hub, and Whitecoat Hub benefit from providing self declarations.

How It Works

  • The business owner prepares a declaration confirming all financial/personal information is accurate.
  • Declaration is signed and submitted to the lender along with the application.
  • Lenders review against bank statements, turnover, and cashflow.
  • Reduces need for full documentation in Low Doc/No Doc applications.
  • Helps establish trust and supports quicker finance approvals.

Related Switchboard Resources

Official info: business.gov.au

What is a Self Declaration?
A formal statement by the business owner confirming the accuracy of financial or personal information.
Why do lenders require it?
To verify information and reduce documentation requirements for Low Doc/No Doc applications.
Can it be used for new businesses?
Yes — it allows new businesses to provide assurance without full financial statements.
What documents support a Self Declaration?
Bank statements, invoices, and BAS may be used to verify information provided.
Does signing a Self Declaration impact approval speed?
Yes — it often accelerates approval for streamlined finance applications.