What Non-Bank Lenders Accept and Charge in Australia: Q3 2026 Data
Data report
Observed panel ranges across 11 lending lanes · evidence window May to September 2026 · refreshed quarterly
A quarterly data report on what non-bank and private lenders in Australia are actually accepting and charging, by lane, from Switchboard Finance's own panel evidence. Security, loan size, LVR, minimum trading, ATO position, hard disqualifiers, documents, observed pricing, time to fund and term, with the sample, period and method stated.
Quick Answer
Non-bank and private lenders in Australia accept different security and charge different prices lane by lane, and this page shows what our panel actually accepted and charged this quarter, from caveat loans to accommodation businesses, with the sample, window and method stated. Ranges are observed from real files and current lender guides, not from advertising, and none of them is an offer; the lane tables carry the figures and the method section explains how to read them.
Also called: non-bank lending criteria, lender appetite, private lender policy.
What are non-bank lenders in Australia accepting and charging right now?
Across the eleven lanes Switchboard Finance brokers, the ranges below are what non-bank and private lenders on our panel actually accepted and charged between May and September 2026, observed from panel records (term sheets, approvals, declines, settlements and lender product guides) and audited against current lender rate cards; advertised floors are shown as floors, never as the band. Every range is observed not offered, and each one comes from a non-bank lender or private lender rather than a bank.
The table has five columns: the lane, the security accepted, the observed loan-to-value ratio, the observed pricing and the time to fund. The property-secured lanes sit in our property lending hub and the cashflow and asset lanes in our business owners finance hub. Each lane section carries the full ten-row rule set, adding loan size, minimum trading, ATO position, hard disqualifiers, documents and term, with evidence and grade beside every row. Nothing here is an offer, and every figure travels with its sample and its grade.
Swipe horizontally to compare all columns.
| Lane | Security accepted | Observed LVR | Observed pricing | Time to fund |
|---|---|---|---|---|
| Caveat loans | Real property with existing equity: residential, commercial, industrial, vacant land. | 60% to 75% combined (up to 80% observed from a minority) | 1.2% to 1.8% per month (about 14% to 22% p.a. simple x12 equivalent); panel-observed, under review | 2 to 7 days |
| Second mortgages | Registered second mortgage over residential or commercial property behind an existing lender. | 65% to 75% combined (up to 80% observed from a minority) | 13% to 18% p.a. working band (published span 10.7% to 21% p.a.) | 3 to 7 days |
| Private lending (first mortgage, short term) | First registered mortgage over freehold residential, commercial, industrial or land. | 55% to 75% of property value (75% ceiling) | 9.5% to 11% p.a. standard firsts (span 7.8% to 14% p.a.) | 3 to 10 days |
| Commercial property loans (term) | Standard commercial: retail, office, light industrial, mixed-use (mixed-use where the borrower trades from the property is assessed as commercial). | 60% to 80% (80% only in defined metro postcodes and to about $3M) | 7.4% to 9.0% p.a. full doc (span 7.4% to 14% p.a. to private and specialist) | 14 to 42 days |
| Development and construction finance | First mortgage over the site plus construction (progressive drawdowns). | 55% to 75% of gross realisation value or total development cost (basis stated per lender) | 8% to 11% p.a. senior, experienced sponsors (span 8% to 14% p.a.) | 14 to 28 days to formal approval |
| Business overdraft and line of credit | Unsecured to about $100k to $250k with director guarantee; asset or property backing above that. | Not applicable for unsecured; property-secured lines follow the term-loan or second-mortgage bands | 14.95% to 23.95% p.a. term-style variable (drawn-balance daily pricing roughly 15% to 45% p.a.) | 1 to 2 days |
| Business term loans and working capital (unsecured and secured) | Unsecured to about $250k to $300k with director guarantee; property, GSA or asset backing above that. | Not applicable for the unsecured band; property-backed follows the caveat or second-mortgage bands | 14.95% to 23.95% p.a. standard unsecured (risk-based span 9% to 36% p.a.) | 1 to 10 days |
| Bad credit business loans (routing rule, not a product) | Routing: with property equity go to caveat, second mortgage or private first (asset-based, credit history secondary) or to a specialist alt-doc lender (paid defaults to about $500 on prime alt-doc; defaults under $2k on specialist to 80% LVR). | Follows the destination lane | Follows the destination lane; unsecured impaired 20% to 36% p.a. (panel-observed, under review) | Follows the destination lane (1 to 10 days observed) |
| Invoice and debtor finance | The receivables ledger plus a general security agreement (AllPAAP) and director guarantees; some funders also take a caveat or second mortgage. | Advance rate 80% to 85% of eligible invoices (to 90% published) | 15% to 26% p.a. effective all-in | 1 to 10 days (same day for spot invoices once onboarded) |
| Vehicle, equipment and asset finance | The asset itself (chattel mortgage, finance lease, hire purchase, rental). | 80% to 100% of the asset (10% to 20% deposit for newer businesses or older assets) | 6.8% to 8.5% p.a. prime (span 6.8% to 20% p.a.) | 1 to 2 days |
| Accommodation and going-concern businesses | Freehold going concern (property plus business) at specialised-security lenders and some privates on an as-is commercial basis. | 40% to 70% of going-concern valuation (leasehold 40% to 50%, capped by remaining lease term) | 8.6% to 9.0% p.a. specialised full doc (private 9.2% to 10.3%); panel-observed, under review | 28 to 56 days |
How should you read these observed ranges?
Two things make a published lending rate mislead: a 'from' rate that almost nobody receives, and a monthly rate read as if it were annual. This page avoids both. Each figure is the range a panel lender actually did, over the window shown, with its evidence beside it. It is observed, not offered.
Where a lane quotes per month, the table prints the monthly figure and its simple x12 annual equivalent, as we explain in what a rate quoted per month works out to per year. Where interest capitalises into the loan balance, the effective annual cost is higher than the x12 equivalent, and the total cost over the term is the comparison that matters. See capitalised interest for how that works. A comparison rate is a consumer-credit construct and does not appear on business-purpose facilities, which is one more reason to compare total cost.
Every row carries a grade. H means several dated panel records agree, confirmed by current lender product guides or public market guides where those exist. M means a few records or older evidence, shown as panel-observed, under review. L means one to three records, shown as limited records, under review. No lender is named anywhere on this page, by policy and for the reasons the method section gives.
What do non-bank lenders accept and charge on caveat loans?
On caveat loans, the non-bank lenders on our panel accepted standard real property with existing equity as security, measured the loan against the combined loan-to-value ratio, and quoted observed rates per month rather than per annum. The criteria turn on the security and the exit rather than on trading history, and the time to fund row is the one that sets this lane apart.
The lane is business-purpose only; ASIC's National Credit Code page sets out when consumer rules apply instead.
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | Real property with existing equity: residential, commercial, industrial, vacant land. Caveat lodged behind the existing first mortgage (unregistered second). Standard property only: leasehold and specialised assets (pubs, motels, parks) are not accepted by caveat lenders. Some lenders set a minimum security value (observed: $300k). | 18 records, Jun-Sep 2026 | H |
| Loan size | $20k to $5M typical; current pages state $1k up, $10k to $10M, $30k to $5M and up, average $10k to $500k, and up to $1M; small-ticket caveat products cap at $300k. | 5 lender pages (primary) plus 12 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| LVR | Combined LVR 60% to 75% is the normal band; 80% available from a minority and usually priced up. Pure fast-caveat lenders often cap at 65% (55% to 60% regional or impaired). Two caveat marketing sites advertise 90% to 100% of property value; those are outliers and are excluded from the band. Conservative lenders quote 65% to 70% inclusive of capitalised interest and fees. | 5 lender pages (primary) plus 11 panel records and 2 public guides; confirmed against primary lender documents 20 Sep 2026 | H |
| Minimum trading | Not the driver. Asset-based assessment. Business purpose and an ABN/ACN are required; a few cashflow-style caveat products want 6 to 12 months trading. | 6 records | M (panel-observed, under review) |
| ATO position | Accepted. Paying out ATO debt is one of the most common stated purposes. Portal (ICA/ITA) is requested, not disqualifying. | 7 records | H |
| Hard disqualifiers | Combined LVR above the lender cap with no additional security; no evidenced exit (refinance, sale or receivable); consumer purpose or owner-occupied home for personal use (NCCP); leasehold or specialised property as the only security; security below the minimum value; part-complete construction (several lenders on hold). | 9 records | H |
| Documents | ID; rates notice and title search; current first-mortgage statement; ATO portal; one-page purpose and exit statement. Financials generally not required. Valuation: desktop or agent appraisal at conservative LVR, full valuation above ~70-75% or on larger loans. | 8 records | H |
| Observed pricing | Published market ranges span 0.77% to 3.5% per month (about 9.2% to 42% p.a. simple x12 equivalent). Two current guides put the standard band at 1% to 1.5% per month (12% to 18% p.a.); a third puts pure fast caveats at 1.5% to 2.5% per month (18% to 30% p.a.). Working band 1.2% to 1.8% per month (about 14% to 22% p.a.); regional, commercial or impaired security 2% per month and above (about 24% p.a. simple x12 equivalent). Establishment 2% to 5% plus legals; interest often prepaid or capitalised. | 10 panel records plus 3 public guides, Jun-Sep 2026 | M (panel-observed, under review) |
| Time to fund | Letter of offer same day to 48 hours (one lender states an indicative offer within 3 to 5 working hours); settlement 24 to 48 hours without valuation to 7 business days with. | 5 lender pages (primary) plus 10 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Term | 1 to 12 months is the working band; current pages state 1 to 36 months (two lenders), typical 6 to 12 months (one), up to 3 years (one). | 4 lender pages (primary) plus 9 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
For how a caveat sits on title and why it is priced the way it is, read how a caveat loan works and what it costs, or see our caveat loans page.
What do non-bank lenders accept and charge on second mortgages?
On second mortgages, the binding constraint our panel applied was the combined loan-to-value ratio across the first and second loans together, not the size of the second loan on its own, and observed rates were quoted per annum, with some lenders restating them per month. Compared with a caveat, the accepted criteria add a registered position behind an existing lender, so who the senior lender is and whether it consents both appear in the rows below.
As with caveats, this is business-purpose lending, outside the test ASIC describes for the National Credit Code.
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | Registered second mortgage over residential or commercial property behind an existing lender. Several lenders require the senior to be a bank or ADI-like lender (no private-behind-private). First-mortgagee consent or a deed of priority is usually needed; at least one lender does not require consent in NSW. | 14 records | H |
| Loan size | $50k to $7.5M; current pages state $50k to $1.5M (low, lite and alt doc seconds), $50k to $5M, and $500k to $25M at the top. Sweet spot $100k to $2M. | 3 lender pages (primary) plus 10 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| LVR | Combined 70% to 75% residential (one current page states a hard 75% maximum on residential, commercial or land), 65% to 70% commercial; 80% combined from a minority; 85% only on small alt-doc second-mortgage products. Regional 65%, destinational or rural 55%. | 3 lender pages (primary) plus 10 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Minimum trading | Asset-based for private seconds. Alt-doc second-mortgage products want 2 years ABN. Company and trust borrowers preferred. | 5 records | M (panel-observed, under review) |
| ATO position | Accepted; ATO debt consolidation is a standard purpose. Unlimited cash-out including ATO observed. | 5 records | H |
| Hard disqualifiers | Senior lender is private (layering) for many; combined LVR above cap; consent refused where required; leasehold; consumer purpose; regional or specialised security at the same LVR as metro (it is not). | 8 records | H |
| Documents | ID; title; senior loan statement; ATO portal; purpose and exit; desktop or same-day valuation is common, full valuation above ~75%; some lenders require financials to evidence refinance capacity at maturity. | 7 records | H |
| Observed pricing | Current lender pages publish a floor of 12% p.a. for second mortgages; panel quotes cluster at 12% to 19%; public guides put the band at 10.7% to 21% (0.89% to 1.75% per month) by LVR band, impaired or no-doc to 24%. Lender fee 1.2% to 4% plus legals and a first-mortgagee consent fee; interest often prepaid. | 2 lender pages (primary) plus 11 panel records and 1 public guide; confirmed against primary lender documents 20 Sep 2026 | H |
| Time to fund | Offer 24 to 48 hours; settlement 3 to 7 business days (one lender publishes an average of 3 days); longer where first-mortgagee consent is required. | 2 lender pages (primary) plus 8 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Term | 3 to 24 months; some to 36. | 8 records | H |
The pillar explains combined LVR and what a second mortgage costs; the product page is second mortgage loans.
What do private lenders accept and charge on a first mortgage?
A private first mortgage in this dataset is business-purpose finance from non-bank or private capital secured by a first registered mortgage over property, and on it our panel accepted criteria built on the security and the exit, measured the loan-to-value ratio against the accepted property value, and quoted observed rates per annum. The observed pricing row is the distinctive one here.
Business purpose is tested on the borrower and the true use of funds, per ASIC's credit code page, not on the lender's label.
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | First registered mortgage over freehold residential, commercial, industrial or land. Metro strongest; regional at reduced LVR; destinational lower again. Several lenders avoid owner-occupied family homes as security. Leasehold is out for real-property lenders. | 25 records | H |
| Loan size | $50k to $40M across the panel; current pages state $50k to $5M, $50k to $8M, $250k to $5M, $300k to $7M, $500k to $25M and firsts to $30M; the working band is $250k to $10M. | 7 lender pages (primary) plus 16 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| LVR | Residential 70% to 75%; commercial and industrial 65% to 70%, one lender to 80% with discretion; vacant land 55% to 65%; construction 70% at one private. Current lender pages state: metro residential 75% at the lowest pricing, metro commercial 65%, one lender capped at 65% across the board. No-valuation products cap at 60% to 75% inclusive of interest and fees. | 6 lender pages (primary) plus 15 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Minimum trading | Not the driver. Business purpose required; alt-doc income (one form, accountant letter) accepted by several for servicing at maturity. | 6 records | M (panel-observed, under review) |
| ATO position | Accepted; ATO debt payout is a standard use of proceeds. | 6 records | H |
| Hard disqualifiers | Consumer purpose; leasehold or specialised assets (pubs, motels, gaming); LVR above cap; no exit; part-complete construction at some lenders; sponsor with no track record on complex or distressed assets; regional small towns for several lenders. | 10 records | H |
| Documents | ID; title and rates notice; purpose and exit; ATO portal; existing debt statements; valuation from the lender's own panel (brokers cannot substitute a valuer). Financials where the exit is a refinance. | 8 records | H |
| Observed pricing | Current lender pages publish floors of 8% p.a. on metro residential and 9% on construction, and 12% p.a. on second mortgages; floors are the lowest advertised rate, not the band. Public guides put standard firsts at 9.5% to 11% and regional, commercial or 65% to 75% LVR at 11% to 14%; wholesale funders price at the cash rate plus 5 to 7 points; loadings above $5M to $10M. Establishment 1% to 3%, legals about $3,000 non-refundable at one lender, valuation $500 to $2k; interest prepaid or capitalised. | 4 lender pages (primary) plus 14 panel records and 1 public guide; confirmed against primary lender documents 20 Sep 2026 | H |
| Time to fund | Current lender pages: indicative terms in 24 to 48 hours, conditional approval within 1 to 4 business hours at two lenders, settlement in 24 hours (no valuation, under $2M) to 3 business days; settlement 3 to 10 business days where a valuation is required. | 6 lender pages (primary) plus 12 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Term | 3 to 36 months; 12 months interest-only is the common structure. | 12 records | H |
For mechanics, read how private lending works and private mortgage lenders; the product page is private lending. If you want a read on which lane fits your file, check eligibility with a broker.
What do non-bank lenders accept and charge on commercial property loans?
On commercial property loans, the tenant and the lease set the gearing before the borrower does: our panel's accepted loan-to-value ratio, measured against the property value, stepped down with location, loan size and property type, and observed rates were quoted per annum by document path. The criteria differ by document path, which makes the documents row the distinctive one.
Banks hold capital against these exposures under APRA's APS 112; non-bank lenders sit outside that standard, which is part of why their criteria differ.
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | Standard commercial: retail, office, light industrial, mixed-use (mixed-use where the borrower trades from the property is assessed as commercial). Specialised property (pub, motel, hotel) only through specialised-security lenders. Leasehold-only is not real-property security. | 16 records | H |
| Loan size | $100k to $8M standard non-bank; $5M to $50M+ institutional. | 9 records | H |
| LVR | Current guides: 80% on standard commercial only in defined Melbourne, Sydney and Brisbane postcodes and only to about $3M; 75% is the metro standard; 70% for high-density, regional over 50,000 population, or $3M to $4M; 65% above $4M, specialised security, or larger regional. One national guide steps 80% to $3M, 70% to $4M, 65% to $5M. SMSF 75% to 80%. Full doc from specialist non-banks to $4M at 80%. Vacant land 75% metro, $1M cap regional. | 3 product guides (primary) plus 12 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Minimum trading | Full doc: 2 years financials. Alt doc: 12 to 24 months ABN, GST registered. Lite doc: accountant letter; some lenders accept under 2 years self-employed on alt-doc commercial. | 8 records | H |
| ATO position | ATO debt payout accepted as a purpose by several alt-doc lenders; arrears and defaults graded (prime, near prime, specialist). Serviceability must still cover the new debt. | 6 records | M (panel-observed, under review) |
| Hard disqualifiers | Interest cover below the guide minimum: 1.25x stand-alone on net rent at actual rate is the current standard, 1.5x for SMSF, 0.5x at or under 50% LVR at one lender, and a net servicing ratio above 1.0x stressed at rate plus 2%; leasehold-only; accommodation on standard-security lenders; related-party lease without criticality and solvency evidence; vacant land at commercial rates; loans above $4M or above 65% LVR without title insurance and a full valuation at some. | 2 product guides (primary) plus 7 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Documents | Full doc: 2 years financials and tax returns, ATO portal, leases, valuation. Alt doc: accountant letter or 6 months BAS or 3 to 6 months business statements. Lease doc: leases only. Trust and company structures: full entity picture, other entities excluded with accountant confirmation. | 8 records | H |
| Observed pricing | Current cards: one national non-bank prices commercial 8.3% to 9.4% p.a. and rural 9.3% to 9.9%; another prices off a 6.99% commercial reference rate plus margin, with a standard residential rate of 8.34%; cards run 6.8% to 10.6% for standard commercial across doc types and to 14.6% for private and short-term products. Panel quotes: full doc 7.4% to 9.0%; alt doc 7.9% to 8.5%; specialised security 8.6% to 9.0%; private or short-term commercial 9.0% to 10.3%; specialist and credit-impaired 10% to 14%. Establishment 0.95% to 1.5% plus GST on current guides; card rates step up about 0.3 to 0.4 points per 10 LVR points above 60%. | 3 rate cards (primary) plus 11 panel records and 4 public guides; confirmed against primary lender documents 20 Sep 2026 | H |
| Time to fund | 2 to 6 weeks. Observed SLAs 6 business days (priority) to 35 days. | 5 records | M (panel-observed, under review) |
| Term | Up to 30 years; interest-only 5 to 10 years available. | 7 records | H |
For mechanics, read how commercial property loans work and how your tenant sets your LVR, then 80 per cent LVR on commercial property; the product page is commercial property loans.
What do non-bank lenders accept and charge on development and construction finance?
On development and construction finance, the first thing a lender on our panel stated was the gearing basis, gross realisation value or total development cost, and the accepted loan-to-value ratio, the criteria and the observed per annum rates all follow from that basis. Sponsor track record, equity and presales outweigh trading history here, and the term row is the distinctive one.
Bank appetite is shaped by APRA's APS 112, which non-bank lenders sit outside. The RBA noted that easing in non-bank lending standards was "most notable, though still modest" for property developers, including less stringent presales requirements (RBA Financial Stability Review, as at March 2026).
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | First mortgage over the site plus construction (progressive drawdowns). Assessed on as-if-complete value (GRV or NRV) or total development cost (TDC). Residual stock and land bank as separate products. Some lenders are freehold-only and metro-only. | 22 records | H |
| Loan size | $1M to $5M is the thin end (one crowd funder covers $1M to $15M); $5M to $50M is the main private band (two funds state $5M to $50M and $5M to $100M); institutional $5M to $150M. Banks cap construction at 60% to 65% of TDC and want 70% to 100% pre-sales, which is the gap private lenders fill. | 6 lender pages (primary) plus 12 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| LVR | Senior: 65% of GRV as-if-complete (including GST) is the common cap, stated on one fund's page; 70% LVR at one crowd funder ($1M to $15M); up to 75% of total development cost for experienced developers at one private ($5M to $100M, none or low pre-sales); residential construction total build cap 80% LVR and high density 70% at one non-bank; TDC-based lenders 85% to 90% of cost. Land 55% to 65%. Residual stock 70%. Mezzanine cuts sponsor cash equity from 25% to 35% of TDC to 10% to 15%. | 5 lender pages (primary) plus 12 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Minimum trading | Not the test. Sponsor track record, equity contribution and a fixed-price build contract are. | 6 records | H |
| ATO position | Sponsor tax position assessed; ATO debt on the sponsor entity is a servicing and character question, not an automatic decline at private lenders. | 3 records | L (limited records, under review) |
| Hard disqualifiers | No DA (only site or pre-DA products); owner-builder without track record; part-complete builds (several lenders on hold); no fixed-price contract; sub-$5M at lenders with a floor; WA or NT at some; syndicated-per-deal funders for time-critical settlements (approval is not certainty of funds). | 9 records | H |
| Documents | Feasibility (finance cost removed, contingency about 5%); DA and permits; fixed-price building contract; QS report; valuation as-if-complete; sponsor track record and financials; presales or refinance exit evidence. | 7 records | H |
| Observed pricing | Senior 8% to 11% p.a. for experienced sponsors with pre-sales (advertised floors 7.95%); 11% to 14% for first-time developers, commercial construction or land subdivision; mezzanine about 2% per month (about 24% p.a. simple x12 equivalent). Establishment 1.5% to 3%, management about 1%, QS fees per stage, valuation as-is and on completion, capitalised interest, extension options priced separately. | 9 panel records plus 1 public guide, Apr-Sep 2026 | H |
| Time to fund | Indicative terms within 48 hours (two lenders state it); responses within 72 hours and indicative offers within seven days at one; formal approval 2 to 4 weeks (QS and valuation); first drawdown after conditions precedent. | 4 lender pages (primary) plus 6 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Term | 12 to 24 months (one lender states 6 to 24, one 10 to 18 on current projects); up to 36 with extension; 12 to 24 months post-construction for residual stock. | 4 lender pages (primary) plus 9 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
For the basis question, read what lenders test in a feasibility and gross realisation value; then property development finance, the construction loan pack and the product page, development finance.
What do non-bank lenders accept and charge on business overdrafts and lines of credit?
On business overdrafts and lines of credit, our panel sized the limit against turnover and trading history, applied a loan-to-value ratio only where the line was property-secured, and quoted observed pricing either as a daily rate on the drawn balance or as a per annum variable rate. The accepted criteria sit in the minimum trading and hard disqualifier rows, and the observed pricing row carries the rate and the limit fee together, because one without the other misleads.
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | Unsecured to about $100k to $250k with director guarantee; asset or property backing above that. Property-secured lines available for larger limits. | 8 records | H |
| Loan size | $2k to $500k revolving on a renewable 2-year term at one major lender; larger secured lines to $1M. | 1 lender page (primary) plus 6 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| LVR | Not applicable for unsecured. Where property-secured, treat as a term-loan or second-mortgage LVR. | not stated | M (panel-observed, under review) |
| Minimum trading | 2 years trading is the standard minimum for revolving lines; 6 to 12 months for small-ticket products. | 5 records | H |
| ATO position | Portal reviewed. Current ATO debt tolerated where on a payment plan and turnover supports it; recent defaults graded. | 4 records | M (panel-observed, under review) |
| Hard disqualifiers | Under 6 to 12 months trading; monthly turnover below the floor (observed $6k to $10k per month, or about $100k to $250k a year); excluded industries; business credit score under roughly 400 to 500; startups. | 6 records | H |
| Documents | 6 to 12 months bank statements (open banking link); ATO ICA and ITA; ID; financials for limits above about $250k. | 5 records | H |
| Observed pricing | Drawn-balance pricing 0.04% to 0.123% per day (roughly 15% to 45% p.a.) plus a weekly limit fee of about 2.4% p.a.; term-style variable 14.95% to 23.95% p.a.; property-secured lines lower. Establishment up to 3%. | 5 records with pricing, Jan-Sep 2026 | M (panel-observed, under review) |
| Time to fund | Same day to 48 hours; median decisions in hours. | 5 records | H |
| Term | Revolving, annual renewal; term-style to 5 years. | 4 records | H |
For how the facility works, read our business overdraft guide and business overdraft rates and fees; the product page is business line of credit.
What do non-bank lenders accept and charge on business term loans and working capital?
On business term loans and working capital, the gate our panel applied first was minimum trading and turnover, with credit score floors behind it; a loan-to-value ratio only enters where property backs the loan, and observed rates were quoted per annum on a risk basis. The criteria rows are the ones to read first in this lane, because a file that misses the trading history or turnover floor is declined before it is priced.
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | Unsecured to about $250k to $300k with director guarantee; property, GSA or asset backing above that. Some lenders accept property security (caveat, second or first mortgage) to reach $500k to $1M at lower pricing. | 14 records | H |
| Loan size | Current pages: $10k to $500k, up to $500k with a single sum to $1M, $20k to $2M, and secured term loans to $5M over 3 to 36 months. Unsecured band $5k to $1M; to $7.5M with security. | 4 lender pages (primary) plus 10 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| LVR | Where property-backed, the caveat or second-mortgage bands apply; unsecured facilities carry no LVR. | 2 records | L (limited records, under review) |
| Minimum trading | Current lender pages: 6 months trading for small-ticket loans (one lender), 12 months trading and $10,000 a month in sales (one lender), 2 years trading for larger limits (one lender). Panel: 12 months standard, 2 years for the lowest pricing. | 3 lender pages (primary) plus 8 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| ATO position | ATO portal reviewed; existing debts and ATO arrangements considered rather than excluded; distress and turnaround specialists exist for VA, DOCA and winding-up situations. | 5 records | M (panel-observed, under review) |
| Hard disqualifiers | Startups under 6 months; turnover below the floor (observed $6k per month to $250k a year depending on lender); excluded industries; business credit score under about 475 or director score under about 500; some lenders require asset backing above $150k. Unsecured capacity is generally 2 to 4 times monthly revenue. | 7 panel records plus 1 public guide | H |
| Documents | Linked bank data or 6 to 12 months statements; ATO portal access required above $100k at one lender; ID; financials and YTD for larger or secured loans. Establishment 2% at one lender, 2% to 3.5% across the panel. | 3 lender pages (primary) plus 6 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Observed pricing | Risk-based 9% to 36% p.a. Market floor about 9% to 10.7% for prime unsecured (an advertised 7.99% simple-interest floor exists but is not the working rate); standard 14.95% to 23.95%; impaired or short-term 20% to 36%; sector average small-business rate about 17% in mid-2026. Secured business loans 6.8% to 15%. Establishment 2% to 3.5%. | 8 panel records plus 3 public guides, Jan-Sep 2026 | H |
| Time to fund | Decisions within 24 hours with linked bank data (two lenders), funding possible in hours to 24 hours; 3 to 10 days secured. | 3 lender pages (primary) plus 8 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Term | 3 months to 5 years; 12 to 36 months typical. | 8 records | H |
For the process, read how to get a business loan and what an unsecured lender can take. The product pages are business loans and working capital loans.
What can still be funded after a decline, and what disqualifies a file?
To a non-bank underwriter, bad credit means specific events, how recent they are and whether there is security; what our panel accepted after a decline was a route into another lane, so the loan-to-value ratio, the criteria and the observed rates follow the destination lane. Nothing in this section is a statement of approval likelihood; the rows show what was observed, not what will happen on your file.
On the ATO position row, the ATO may disclose a business tax debt to credit reporting bureaus where at least $100,000 is overdue by more than 90 days and the business is not engaging with the ATO (ATO, Disclosure of business tax debts, as at October 2025). A payment plan being complied with counts as engaging, and a business has 28 days from the written notice to act. ATO criteria can change; this is not tax advice.
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | Routing: with property equity go to caveat, second mortgage or private first (asset-based, credit history secondary) or to a specialist alt-doc lender (paid defaults to about $500 on prime alt-doc; defaults under $2k on specialist to 80% LVR). Without property: specialist unsecured small-ticket lenders and near-prime asset finance. | 10 records | H |
| Loan size | Follows the lane. Unsecured impaired: $5k to $100k typical. | 4 records | M (panel-observed, under review) |
| LVR | Follows the lane. Specialist resi to 80% with minor defaults; private seconds price the impairment rather than decline it. | 4 records | M (panel-observed, under review) |
| Minimum trading | Follows the lane. Unsecured specialists: 12 months trading minimum. | 3 records | M (panel-observed, under review) |
| ATO position | Arrears and ATO debt are common on this profile and are accepted by the secured lanes and by specialist alt-doc; graded, not excluded. | 5 records | H |
| Hard disqualifiers | Undischarged bankruptcy at most lenders; court orders involving financial fraud; active winding-up unless with a distress specialist; no equity and no cashflow at the same time. | 5 records | M (panel-observed, under review) |
| Documents | As per the destination lane, plus an explanation of the impairment and evidence it is paid or under arrangement. | 3 records | M (panel-observed, under review) |
| Observed pricing | Secured: the caveat or second-mortgage band. Unsecured impaired: 20% to 36% p.a. Specialist resi alt-doc: 7.6% to about 14% depending on grade. | 6 records | M (panel-observed, under review) |
| Time to fund | Follows the lane. | not stated | H |
| Term | Follows the lane. | not stated | H |
If a lender has already said no, start with business loan declined and what it means for your credit score; the product page is bad credit business loans.
What do invoice finance lenders accept and charge?
On invoice finance, the security is the receivables ledger itself, so in place of a loan-to-value ratio our panel set an advance rate against eligible invoices, accepted criteria built on the debtor book, and charged observed pricing in two parts that the table also restates as an effective per annum cost. Who owes the invoices matters more here than who is borrowing, and debtor concentration shows up in both the disqualifier and the pricing rows.
business.gov.au defines invoice finance in its key financial terms as funding that rests on what your customers owe you.
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | The receivables ledger plus a general security agreement (AllPAAP) and director guarantees; some funders also take a caveat or second mortgage. Disclosed or confidential facilities. B2B invoices to creditworthy debtors. | 7 records | H |
| Loan size | Spot advances from $10k; facilities to $1M standard, $2M custom; trade finance $500k to $5M. | 5 records | H |
| LVR | Advance rate 80% to 85% of eligible invoices is the working band (one lender states up to 80% advanced; market publishes 70% to 90%); trade finance to $5M with supplier terms to 180 days. | 1 lender page (primary) plus 5 panel records and 2 public guides; confirmed against primary lender documents 20 Sep 2026 | H |
| Minimum trading | 6 to 12 months trading; $1k to $10k of invoices a month at the small end; whole-ledger facilities from about $200k of invoices; $1M+ turnover for trade finance. | 4 panel records plus 2 public guides | H |
| ATO position | Portal reviewed; ATO arrangements accepted where the ledger supports the facility. | 3 records | M (panel-observed, under review) |
| Hard disqualifiers | B2C sales; construction progress claims at most funders (a few specialise); debtor concentration; disputed or contra invoices; no ACN for trade finance. | 5 records | M (panel-observed, under review) |
| Documents | Aged receivables and payables; sample invoices and contracts; 12 months bank statements; financials and YTD; ATO ICA and ITA; accounting-system link (Xero, MYOB). | 4 records | H |
| Observed pricing | Two components: a service fee of 1% to 2.5% of invoice face value (factoring 1.5% to 5%) plus a discount rate of 8.5% to 14% p.a. on drawn funds; spot factoring 3% to 8% of face value. Effective annualised cost commonly 15% to 26% all-in; an observed live trade facility ran above 21% p.a. Concentration above 20% to 25% of the ledger with one debtor loads the price or cuts the advance. | 4 panel records plus 4 public guides, Apr-Aug 2026 | H |
| Time to fund | Same day for spot invoices once onboarded; facility setup 3 to 10 days. | 4 records | H |
| Term | Revolving; invoices to 90 days, trade to 180 days. | 4 records | H |
For mechanics, read the invoice finance guide and the glossary entry for advance rate; the product page is invoice finance.
What do non-bank lenders accept and charge on vehicle and equipment finance?
On vehicle and equipment finance, the two gates our panel applied were the age of the asset and the age of the ABN; the loan-to-value ratio is measured against the asset itself, the low-doc criteria accepted depend on trading history and GST registration, and observed rates were quoted per annum by credit tier. The documents row is the distinctive one: it shows where low doc ends and full financials begin.
Security over a financed asset is recorded on the Personal Property Securities Register, explained in business.gov.au's glossary of financial terms.
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | The asset itself (chattel mortgage, finance lease, hire purchase, rental). Primary assets (cars, utes, trucks to 4.5t and above, yellow goods, plant) at the lowest pricing; secondary and tertiary assets at specialist lenders. Second-hand and private-sale assets accepted with conditions. | 12 records | H |
| Loan size | $5k to $250k low-doc at most lenders, $400k to $500k at some; full doc to $3M to $4M; small-ticket leasing from $500. Average chattel mortgage about $60k to $70k for vehicles, about $100k to $120k for equipment and trucks. | 8 panel records plus 2 public guides | H |
| LVR | Usually 100% of the asset, no deposit. Newer businesses or older assets: 10% to 20% deposit. Balloon 0% to 60% of value; balloon terms capped at 5 years, 7-year terms need a $0 residual. | 5 records | M (panel-observed, under review) |
| Minimum trading | Low doc (no financials): ABN and GST 2 years, lowest pricing at 4 years+; asset-backed (property owner) improves it. Full doc for under 2 years or for larger limits. New-to-business possible at specialists with a deposit. | 6 records | H |
| ATO position | Near-prime and specialist lenders accept past defaults and ATO arrangements; prime lenders do not. | 4 records | M (panel-observed, under review) |
| Hard disqualifiers | Asset older than the lender cap: market surveys put it at 12 to 15 years old at the end of the term for vehicles; no ABN or GST for low doc; excluded asset types; thin file with no deposit at prime lenders. | 4 panel records plus 1 public survey | M (panel-observed, under review) |
| Documents | Low doc: ID, ABN and GST, asset invoice or quote, sometimes 3 to 6 months statements, business-use declaration (vehicle used more than 50% for business). Full doc: financial statements and tax return for the last 18 months at one lender; 2 years elsewhere. Privacy consent. | 2 lender pages (primary) plus 5 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
| Observed pricing | Prime 6.8% to 8.5% p.a. on new assets with 2+ years trading and property backing; near-prime 8% to 17%; specialist to about 20% risk-based; dealer-subvented promotions lower. Six panel lenders start under 10% (May 2026 market survey). RBA average small-business lending rate about 7% (Feb 2026) is the benchmark. Broker-set pricing on some platforms. | 7 panel records plus 3 public guides, Feb-Jul 2026 | H |
| Time to fund | Same day to 48 hours approval; settlement 1 to 2 days. | 6 records | H |
| Term | 1 to 7 years (two lenders state 12 months to 7 years, balloons available on most assets); 3 to 5 typical. | 2 lender pages (primary) plus 6 panel records; confirmed against primary lender documents 20 Sep 2026 | H |
For mechanics, read equipment finance, business vehicle finance and the chattel mortgage, and the glossary entry for a balloon payment. The product pages are vehicle finance and equipment finance for your next purchase.
What do lenders accept and charge on pubs, motels, parks and management rights?
On pubs, motels, parks and management rights, the first split our panel applied was tenure, freehold going concern versus leasehold, with the remaining lease term capping leasehold gearing; the loan-to-value ratio is measured against a going-concern valuation, the accepted criteria centre on trading financials and operator experience, and observed rates were quoted per annum. The security accepted row is the distinctive one, because what counts as security changes with tenure and licence.
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| Rule | What our panel accepted or charged, May to September 2026 | Evidence | Grade |
|---|---|---|---|
| Security accepted | Freehold going concern (property plus business) at specialised-security lenders and some privates on an as-is commercial basis. Leasehold as the only security is accepted by almost no real-property lender; it is funded by cashflow lenders on GSA and business security at factor-style pricing, with a mandatory exit-to-bank plan. Caravan parks are excluded by the main specialised lender. Gaming entitlements are not bankable security in practice. Management rights: business plus manager's lot. | 20 records (accommodation matrix, Jul-Sep 2026) | H |
| Loan size | $300k to $7.5M standard; $2M cap on specialised full doc at one lender; $10M to $150M institutional hotel lending. | 8 records | H |
| LVR | Freehold pub with gaming about 65%, without gaming about 50%; motel or park 60% to 70%; hostels 70%; all of going-concern valuation. Leasehold 40% to 50% of going-concern valuation, capped by remaining lease term. Management rights about 70% combined, business valued at 2.5x to 5.5x net profit. Privates on standard-property basis 65% to 75% as-is. Bank policy as published through broker guides: freehold with gaming 65%, without gaming 50%; leasehold with gaming 50% of going-concern valuation for pubs and up to 70% for hotels and motels; P&I terms 5 years with debt reduced by 40%; interest-only maximum 3 years. | 9 panel records plus 1 public guide | H |
| Minimum trading | Two years trading financials for the business being bought or refinanced; new operators need industry experience. | 4 records | M (panel-observed, under review) |
| ATO position | Vendor and buyer tax position reviewed; ATO debt on the operating entity is a servicing question at specialised lenders. | 2 records | L (limited records, under review) |
| Hard disqualifiers | Leasehold-only at real-property lenders; regional small towns at many privates (declined explicitly); caravan parks at the main specialist; gaming entitlements as security; sub-2-year trading; purchase price above going-concern valuation. Banks: no low-doc, 3 years operating experience preferred, business plan and forecasts requested. | 8 panel records plus 1 public guide | H |
| Documents | Two years financials of the business; going-concern valuation; lease and any assignment; liquor and gaming licences; management agreements; capex plan; buyer experience. | 5 records | M (panel-observed, under review) |
| Observed pricing | Specialised full doc 8.6% to 9.0% p.a.; private 9.2% to 10.3%; leasehold via cashflow lenders unpublished and materially higher. | 5 records with pricing, Jul 2026 | M (panel-observed, under review) |
| Time to fund | 4 to 8 weeks; short-term private lending settles faster on freehold. | 3 records | M (panel-observed, under review) |
| Term | Up to 30 years on specialised term products; 1 to 3 years private. | 4 records | M (panel-observed, under review) |
For mechanics, read pub and hotel finance, accommodation LVR by asset type and freehold going concern versus leasehold, plus the glossary entry for going concern. Licences are covered under liquor licence and gaming entitlements. The product pages are pubs and hotels and motel finance.
How was this data collected, graded and refreshed?
Every range on this page is observed from Switchboard Finance's lender-panel evidence between May and September 2026, audited against current lender product guides, graded row by row, and refreshed in place each quarter.
Method statement: Observed ranges synthesised from Switchboard Finance's lender panel records (127 records with dated evidence, May to September 2026), audited on 20 September 2026 against 10 lender product guides and rate cards (dated August 2025 to September 2026) and about 35 lender product pages, and cross-checked against 12 public market guides. Category-level only; no lender is identified. General information only; does not take any borrower's objectives, financial situation or needs into account. Every enquiry is assessed by a licensed broker.
Observed means term sheets, indicative approvals, declines, settlements and lender product guides read during the window; an advertised floor is shown as a floor, never as the band, whether the figure is a loan-to-value ratio, a price or a timeframe. We print ranges, not 'from' rates, because ASIC expects claims about outcomes to be capable of substantiation and treats 'from' and 'up to' phrasing with caution, since the overall impression can overstate availability (ASIC RG 234, as at June 2026).
The regulator has measured the gap: of the 28 private credit funds ASIC reviewed, only four published the rates or ranges charged to borrowers (ASIC REP 820, as at November 2025). Its fund-level spread, 2.50 to 33.51 per cent in retail funds and 8.00 to 41.66 per cent in wholesale funds (REP 820, Table 3.1, as at November 2025), mixes asset classes and borrower types, is not comparable to these lane ranges, and is shown only to explain why published ranges are wide.
For scale, non-bank lenders still account for only 6 per cent of financial system assets (RBA Financial Stability Review, as at March 2026), and domestic private credit, the capital behind private lending, is around $200 billion, about 3 per cent of the size of the banking system (APRA System Risk Outlook, as at May 2026).
Excluded by design: the consumer home-loan lane, ranking language and predictions. No lender is named on this page. Ranges are category-level observations from Switchboard Finance's panel and are not offers, quotes, comparisons of lenders or statements about what any borrower will receive. The page is refreshed quarterly at this address; the evidence window spans the RBA cash rate change of 6 May 2026 and the ranges are not adjusted for it.
On regulation, the National Credit Code applies where the borrower is a natural person or strata corporation borrowing wholly or predominantly for personal, household or residential investment purposes (ASIC, National Credit Code, page updated August 2025), and a lender that only provides commercial loans is not required to hold a credit licence or be an AFCA member (ASIC Information Sheet 207, reissued April 2024).
From our broking files, indicative and general
In our broking files the number that decides a non-bank deal is rarely the headline rate. It is the gearing the lender will actually hold at settlement, and whether the event that repays the loan is real. We keep this block qualitative because a rate or timing figure quoted without its security position, its exit and its date misleads more than it informs.
- What an underwriter reads first: the security position on title, the loan-to-value request against the value the lender will accept, every debt already secured, and the exit that repays the facility, in that order and before the rate.
- Where the observed ranges move: a lower loan-to-value request, clean title, a documented exit and current financials tend to land a file in the lower part of a lane's observed pricing range; a contested title, an ATO position with no plan, or an exit that depends on hope tend to land it at the top or outside the panel.
- What gets a file declined regardless of rate: the hard disqualifiers in each lane table are the ones we see most; a lender does not price them, it declines them.
- What to compare instead of the rate: the total cost over the term at the gearing you will actually be offered, including establishment, legal and valuation costs and whether interest capitalises, against the cost of not doing the deal.
Indicative and general only, from Switchboard Finance broking experience as at September 2026. Not a quote, not an offer, and not a statement of the rate, cost, approval or outcome you will get. Terms depend on your security, your exit and the lender. Non-bank facilities are commonly shorter term and higher cost than bank finance. Obtain independent legal and financial advice before you sign.
Across eleven lanes, what non-bank and private lenders accept and charge differs more by security and exit than by headline rate. The tables on this page show observed ranges from our own panel between May and September 2026, graded by evidence and refreshed each quarter, with no lender named and nothing offered. Read your lane's full rule set, not one cell, and read any monthly rate with its x12 equivalent and the capitalisation line beside it.
Key takeaway: the useful number on a non-bank deal is the gearing you will actually be offered against a real exit, read beside the observed range for your lane, not a headline rate on its own.Frequently Asked Questions
A non-bank lender is a lender that provides credit in Australia without holding an authorised deposit-taking institution licence, so it funds its loans from wholesale, private or fund capital rather than customer deposits. Whether it must hold a credit licence depends on what it lends: regulated consumer credit needs one, while a lender that only writes commercial loans is not required to hold one. See our non-bank lender definition for the longer version.
It depends on the lane and the security: on our panel the observed LVR ranges for caveat, second mortgage and private first mortgage facilities are in the tables above, with the sample and window stated. Second mortgages are measured on combined LVR, which counts the first mortgage and the second together, not the second loan alone. The second mortgage table shows the combined range, and the glossary explains the loan-to-value ratio itself.
The observed pricing rows for caveat loans, second mortgages and private first mortgages on this page show what our panel actually charged between May and September 2026, as observed ranges and not as offers. Private lenders commonly quote per month, so the tables print the monthly figure beside its simple x12 annual equivalent, and where interest capitalises the real cost is higher than that x12 figure. Start at the private first mortgage table, then read how a monthly rate converts to a yearly one.
Regulation depends on the borrower and the purpose, not on the lender's label. Credit to an individual for personal, household or residential investment purposes falls under the National Credit Code, while business-purpose lending generally does not. On ASIC's guidance, a lender that only provides commercial loans is not required to hold a credit licence or to be a member of AFCA. Contract law, the ASIC Act conduct provisions and unfair contract terms rules still apply, so check the lender first. See checking a private mortgage lender for the checks.
Non-bank lenders joined the Consumer Data Right for product data on 13 July 2026, and consumer data sharing phases in from 9 November 2026 depending on the size of the provider, according to the ACCC. In practice, standardised product information such as rates, fees and eligibility criteria will become easier to compare over time. It does not change any lender's credit criteria. See choosing a non-bank property lender under the CDR.
Start with the minimum trading, ATO position, documents and hard disqualifier rows in the business term loan table and the overdraft table on this page, which show what our panel accepted between May and September 2026. A facility described as unsecured is usually still supported by a director guarantee, and often by a general security agreement over the business. Our guide explains what a lender can take on an unsecured loan.
The observed commercial property LVR range on our panel is in the commercial property table on this page; whether 80 per cent sits inside it for a given file depends on the tenant, the lease and the property type, and on our panel's evidence the location and the loan size as well. For which lender types say yes, read the 80 per cent LVR commercial loan guide, and for the tenancy side read how the tenant drives LVR.
Both bases are used, and the lender states which one applies: some gear against gross realisation value on an as-if-complete basis and others against total development cost. The development table on this page shows the basis our panel observed. Banks carry APRA's APS 112 capital rules, which shape their appetite, while non-bank lenders sit outside that standard. The RBA reported in March 2026 a modest easing in non-bank lending standards for developers, including less stringent presales requirements. See the development feasibility guide.
Not by itself. The ATO position row in each lane table shows what our panel accepted, and the usual condition is a payment plan that is being kept. The ATO may disclose a business tax debt to credit reporting bureaus where at least $100,000 is overdue by more than 90 days and the business is not engaging with it, and a business has 28 days from the written notice to act (ATO, October 2025). If a lender has said no, start with what to do after a business loan decline.
It is refreshed quarterly, in place and at the same address, with the quarter in the title and the reviewed date moving each time. The numbers come from Switchboard Finance's own lender-panel evidence over the stated window, audited against current lender product guides and rate cards, and graded row by row by how much evidence sits behind them. Advertised floors are shown as floors, never as the band, and no lender is named. The method section sets out the sample, the window and the grading.
What sources support this report?
The regulatory and market facts on this page come from primary sources, each read again on the build date. The observed lane values are our own panel data and are listed last, so the table names where every kind of figure on the page comes from.
Swipe horizontally to review each source and date.
| Source | What it supports | As at |
|---|---|---|
| ASIC, National Credit Code | When the National Credit Code applies: the borrower test and the purpose test | Page updated 1 Aug 2025 |
| ASIC Information Sheet 207 | Commercial-only lenders, credit licensing and AFCA membership; AFCA's small business definition of less than 100 employees | Reissued Apr 2024 |
| ASIC Regulatory Guide 234 | Substantiation of advertising claims and caution with 'from' and 'up to' phrasing | 9 Jun 2026 |
| ASIC REP 820 | Four of 28 private credit funds published borrower rates; Table 3.1 fund-level rate spread | 5 Nov 2025 |
| APRA System Risk Outlook | Size of domestic private credit | May 2026 |
| RBA Financial Stability Review | Non-bank and private credit share of financial system assets; modest easing for property developers | Mar 2026 |
| RBA cash rate target table | The 6 May 2026 change that falls inside the evidence window | Read 20 Sep 2026 |
| ATO, Disclosure of business tax debts | The $100,000, 90-day and 28-day disclosure criteria | Page updated 15 Oct 2025 |
| ACCC media release, Consumer Data Right | Non-bank lender product data from 13 July 2026; consumer data sharing from 9 November 2026 | 13 Jul 2026 |
| Federal Register of Legislation, F2025L00652 (APS 112) | The bank capital frame on commercial property and development lending that non-bank lenders sit outside | 2025 instrument |
| business.gov.au, key financial terms | Plain-language definitions of invoice finance and the Personal Property Securities Register | Read 20 Sep 2026 |
| Switchboard Finance lender-panel records | 127 records with dated evidence, May to September 2026, audited 20 September 2026 against 10 lender product guides and about 35 lender product pages (internal; category-level only) | 20 Sep 2026 |
Where a cited figure appears it is shown with its source and date beside it. Regulatory positions are summarised, not reproduced in full, and none of this is legal, tax or financial advice.
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