Self-employed and need a business loan? Here’s how a finance broker can help.

Being your own boss is exciting, rewarding, and… sometimes downright complicated, especially when it comes to getting finance.

Banks often put self-employed borrowers through extra hoops even if you’re earning as much (or more!) as a salaried employee.

Why? Because banks love predictability and your income? Well, it’s more ‘season finale cliffhanger’ than ‘same script, different day’!

But here’s the good news: You’re not alone in this.

At Coastal Finance, we work with Australia’s leading banks and lenders to help self-employed people navigate the process, cut through the complexity and secure the right loan – with minimal stress.

Why do banks make it hard for the self-employed?

Lenders want consistency and stability. But as a business owner, contractor or freelancer, your financials might look a little… different.

Fluctuating income? It’s part of running a business! But banks prefer predictable monthly paychecks.

Tax deductions reducing taxable income? Great at tax time, not so great when lenders only look at your ‘official’ income.

No standard payslips? Banks typically use these to verify income, but self-employed people have to jump through extra paperwork hoops.

More documentation required? Expect two years of tax returns, profit and loss statements, business bank records and more.

Basically, lenders want to know:

• Are you financially stable?
• Can you afford the loan?
• Will you be able to repay it long-term?

A strong application answers those questions upfront, and that is where a finance broker comes in.

How a finance broker cuts through the complexity.

Trying to get a loan on your own is like doing your own taxes while blindfolded: frustrating, time consuming, and (sometimes) financially painful!

A finance broker:

• Assesses your financial position: we structure your application to highlight your strengths
• Works with a range of lenders and help you compare options to find a finance solution that fits your needs..
• Knows what banks are looking for, and we help you prepare the right documentation so you won’t be buried in paperwork.
• Advocates for you: We work with lenders to help structure your application in the best possible way, improving your chances of securing finance that fits your needs.

At Coastal Finance, we don’t believe in one-size-fits-all finance. We help real people who run real businesses find loans that work for them.

What types of loans can self-employed people access?

Being self-employed means you wear many hats: CEO, marketer, finance manager, coffee-runner, and employee!

Regarding business finance, having the right loan at the right time can be the difference between scaling up and stressing out. Here are some of the different loans available:

1. Business line of credit, your financial safety net.

Ever wish your business had a buffer for the unexpected? A business line of credit is like a financial safety net, funds are there when you need them, and you only pay interest on what you use.

Perfect for:

• Bridging cash flow gaps (because clients don’t always pay on time, do they?)
• Covering unexpected expenses without breaking a sweat
• Jumping on new opportunities when they arise (instead of missing out because the timing wasn’t perfect)

2. Equipment financing because tools don’t buy themselves!

Do you need to upgrade your gear without draining your bank account? Equipment financing lets you spread the cost over time, so you can keep your business running smoothly without a financial panic attack.

Great for:

• New machinery, tech, or tools (Your 2012 laptop can only take so much)
• Upgrading your commercial vehicles (if your work van has more rust than paint, it’s time)
• Getting the latest software or hardware without maxing out your credit card

3. Commercial property loans, because your business needs a home!

Thinking of buying, expanding, or renovating your business premises? A commercial property loan can help turn that dream into reality.

Whether you’re:

• Buying your first office, warehouse, or retail space
• Expanding because your “small startup” is now a thriving empire
• Refinancing an existing commercial mortgage to free up capital

…it’s about owning your space instead of paying someone else’s mortgage.

4. Business acquisition loans, to fast track expansion

Want to buy an existing business instead of starting from scratch? Business acquisition loans help you take over an established business without wiping out your savings.

These loans are ideal for:

• Buying a competitor (because if you can’t beat them, buy them)
• Purchasing a franchise (so you don’t have to start from square one)
• Expanding your operations with a strategic acquisition

5. Startup loans, because every empire starts somewhere

Got a big idea but need the funds to bring it to life? Startup loans help turn “I have a business plan” into “I have a business”.

These loans cover:

• Initial setup costs (so you’re not bootstrapping forever)
• Inventory, equipment, and marketing expenses (because your website won’t build itself)
• The essentials—like keeping the lights on while you land those first clients

6. Cash flow management solutions, because timing is everything.

Your business might be profitable on paper, but if cash flow timing is off, things can get stressful quickly.

Financing solutions like invoice financing, working capital loans, and short-term business loans help you:

• Cover payroll and operational costs without waiting for clients to pay up
• Keep things running smoothly during seasonal dips
• Invest in growth—without worrying about short-term cash flow hiccups

Real story: Helping ko&co workhub take flight

Recently, we helped one of our business clients, a self-employed creative, launch her biggest venture yet: ko&co workhub.

She needed to refinance an existing loan to obtain the capital required for the startup and set-up costs.

Here is where it got tricky:

• She’s already self-employed in another business she owns
• She’s a director in multiple ventures
• She has several personal assets (she owns her home and car, etc.) but, due to tax deductions, on paper, earns a minimum wage.
• Traditional bank processes aren’t built for this level of complexity

Our solution?

We took the stress off her plate, structured her application so it would appear favourably to the banks, and found the right lender that worked with her unique financial setup

“As a self-employed business owner, I knew getting finance for my new venture wouldn’t be easy—especially while keeping my current business running. But I had no idea how many hoops I’d have to jump through. The things that make you successful in business—multiple directorships and a strong track record—can work against you when dealing with banks. Coastal Finance cut through the complexity. They explained what lenders needed (and why), handled the process from start to finish, and ensured I didn’t waste time stressing over paperwork. I could focus on launching my business while they found the right loan, structured my application, and secured the finance I thought impossible.”

This is what real finance brokerage is about, not just finding a loan, but finding a solution

What’s happening in 2025? And why it matters to you.

If you’re self-employed, you already know that traditional lending doesn’t always feel built for you. And in 2025, not much has changed.  Banks still prefer the neat and predictable over the real and dynamic.

Here’s what’s happening in the finance space right now:

• Lenders are tightening policies. Strong financial records matter more than ever, but that doesn’t mean you’re out of options.
  Interest rates have stabilised. The right structure can make all the difference in what you pay.
• Lenders continue to assess applications based on financial history and cash flow stability, so preparing the right documentation remains essential.

It’s a lot to navigate—but you don’t have to do it alone.

Let’s figure this out together

At Coastal Finance, we don’t believe finance should be a mystery. We believe in helping you make the most of your money. We help business owners like you cut through the complexity, find finance solutions that fit, and make the process as straightforward as possible.

Whether you’re expanding, investing, or just looking for more breathing room, we’ll help you find a finance solution that fits—so you can focus on running your business, not chasing paperwork.

Let’s chat. No pressure, no sales pitch—just real conversations about where you’re headed and how we can help.