An ABN (Australian Business Number) is a unique 11-digit number with the purpose of identifying you in the public eye. This improves transparency and can assist certain business processes, such as invoicing, making your business clearly distinguishable to others. However, your ABN can also be used to assess you and can influence decisions when it comes to applying for finance.
Lenders use your ABN to determine your creditworthiness, your financial status, the existence of your business and whether you can be trusted to repay a loan. Therefore, being approved an ABN loan is limited to whether you have a strong financial profile or not.
The good news is that you can get a small business loan with no credit or bad credit.