Borrowing money once set up a company

Hi all
I have recently set up a company last year and this finiancial year is to be my first year of tax in the company
Is there any lenders who will asses one year of tax returns to get loans as composed to two years of tax returns ?

 

What is the company doing and what are you borrowing the money for?

 

I set up a company for property renovations
And to buy more property

Iam currently a Plasterer work on wages for a company but do Stil have limitations with serviceability just looking to find ways to fast track my investing journey

 

It’s an exception to credit policy for most lenders. The lenders that will accept one years financials usually want the abn registered for at least 2.

But it is certainly possible, especially if you have a good story.
Like working payg as a candle stick maker for 20 years then setting up your own candlestick making business etc.

 

I see ur point there

The banks r just making it difficult atm were stil finding ways to move forward but would like to get some help from them also
I have a lot of equity in my ppor but I had a property in qld that has lots of negitive equity which holds us back

 

So does the company have any income or assets? Just having a company doesnt increase your borrowing power.

 

Yea this year will turn over 200k ish
That doesn’t include my day job also

I do feel after two years of tax returns banks will like it lots . But hoping to fast track it some how to get going

 

No There not

 

I've had a few wins with less than 2 years from the big 4. Always an exception to policy though.

Speak to a broker and have him speak to his guy at the bank who will in turn speak to his guy in credit...