This type of loan is known as an asset lend because the lender is primarily relying on the value and saleability of the security rather than the strength of your personal situation.
You will need to sign a declaration confirming that you are aware of the repayments and can afford them. You are not normally required to state your income but if you can then you may qualify for a more attractive interest rate.
You are not normally required to provide supporting documents such as tax returns, business activity statements (BAS), an accountant’s letter or business bank statements. You may still need to provide other documents such as statements for your existing commercial loan, evidence of your deposit or the particulars of the lease for the property.
You can use the funds from the loan for commercial property investment purposes, investment in shares or for business purposes including working capital.
You cannot use the funds for personal purposes or to buy residential investment properties because the loan would then be regulated under the National Consumer Credit Protection Act (NCCP). If the loan is regulated then the lender must verify your income.