Quick answer
Personal trainers usually borrow modest amounts: equipment for mobile or outdoor sessions, a van or ute, the fit-out and gear for a small private studio, or working capital while moving from renting gym floor space to running their own place. Equipment and vehicle finance are the easiest to get. Unsecured loans need at least six to twelve months of income in a business account, and your personal credit history carries most of the weight.
Key points
- Most trainers are sole traders, so lenders read your personal credit file and personal finances as part of the business
- Income that arrives through booking and payment apps counts, as long as it lands in a bank account the lender can see
- Equipment and vehicle finance are often available to newer trainers because the asset secures the loan
- In WA, the mandatory Fitness Industry Code of Practice covers personal trainers as well as gyms, including cancellation and cooling-off rules
Personal training is a business you can start with a set of kettlebells and a phone. Plenty of trainers never borrow a cent, and that’s often the smart call. Where borrowing starts to earn its keep is usually a step change: buying a van to train clients at home, leaving a gym’s rent arrangement to open a small studio, or kitting out an outdoor bootcamp with enough gear for twenty people.
At that point you’ll meet a lending world that mostly sees you as a sole trader first and a fitness professional second. Here’s what that means in practice.
Should a personal trainer borrow at all?
Before the how, the whether. A loan is worth taking when it lets you earn more than it costs, within a time frame you can rely on. For trainers, that usually looks like:
- Gear that lets you take on more clients at once. Moving from one-on-one sessions to small groups can multiply your hourly earnings, and the equipment pays for itself quickly.
- A vehicle that opens up mobile training. Home and workplace sessions often command higher fees.
- Your own space. Swapping a weekly rent payment to a gym for your own studio can increase margin, but only if you can fill it.
Taking on debt to paper over a slow patch, or to fund courses before you’ve got clients, is riskier. If quiet months are the issue, look first at your pricing, packages and cancellation policy.
How do lenders see a personal trainer?
Most trainers operate as sole traders, so you and the business are, in a lender’s eyes, the same borrower. That means:
Your personal credit file matters a lot. Unpaid phone bills, defaults or a cluster of recent credit applications will count against the business, because legally there’s no separation.
Trading history is measured from your ABN and your own income. Years spent as an employed trainer at a big gym help show experience, but lenders need to see money flowing into your own account from your own clients.
Income patterns are lumpy. January and the months before summer are typically strong. Mid-year can be quiet, and some clients pause over Christmas. Lenders reading twelve months of statements will see all of it.
Turnover thresholds can rule you out. Many unsecured lenders have a minimum monthly turnover. Our page on loans for low-turnover businesses explains what’s possible below the usual cut-offs.
One more point worth raising with your accountant: where one gym or one client supplies the bulk of what you earn, the ATO’s personal services income rules may affect which expenses you can claim. That changes your tax position, and in turn the profit figure a lender sees on your return.
Which finance fits which purchase?
| What you’re buying | Finance that usually fits | Notes |
|---|---|---|
| Kettlebells, bands, boxing gear, a portable sound system | Savings, a business credit card cleared quickly, or a small equipment loan | Small amounts are rarely worth a formal loan |
| Van, ute or trailer for mobile sessions | Commercial vehicle finance or a chattel mortgage | The vehicle secures the loan, which helps newer businesses |
| Racks, cable machines, reformers or rowers for a studio | Equipment finance | Quality commercial gear has resale value |
| Studio fit-out, bond and first months of rent | Unsecured small business loan, or property-secured if you own a home | Needs a proven income history |
| Buying another trainer’s client list or a small studio | Business acquisition loan | Lenders will ask how many clients actually transfer |
Thinking about a van or a studio? Ask us what’s realistic. Sixty seconds, and no credit enquiry gets recorded.
What does it take to go from renting space to your own studio?
This is the biggest financial step most trainers take, so it’s worth planning carefully.
When you rent floor space at a gym, you pay a fixed weekly fee and the gym provides equipment, insurance in some cases, change rooms and foot traffic. Your costs are predictable and low.
Your own studio swaps that for rent, outgoings, power, equipment, insurance, cleaning, marketing and the risk that clients don’t follow you. A lender considering a studio loan will usually want to see:
- Twelve months or more of steady income, banked into an account in your name
- A client list you can show is loyal: repeat bookings, packages and retention over time
- A realistic budget for the fit-out and the first three to six months
- A lease that lasts at least as long as the loan
Work through the numbers before you sign anything. Our business loan repayment calculator will show what a given amount costs each month. Then ask whether your current client base covers it on a quiet month, not a busy one.
Paperwork worth getting in order
- A separate business bank account, used for every client payment
- Payout reports from your booking or payment app, matched to deposits
- Your ABN details, and GST registration if your turnover requires it
- Your most recent tax return and, if registered for GST, recent BAS
- Insurance certificates: professional indemnity and public liability
- Quotes for whatever you’re buying
If you’re in WA, your client agreements need to follow the state’s mandatory Fitness Industry Code of Practice, which covers personal trainers and bootcamps as well as gyms. Among other things, clients can cancel by email, there’s a seven-day cooling-off period, and fixed terms are capped at 12 months. Lenders rarely ask, but compliant contracts protect the income they’re lending against.
An example: from gym floor to a two-person studio
Hypothetical; any likeness to a real trainer is coincidence. A trainer in Geelong has spent three years renting floor space at a commercial gym, building a solid client base, with most income banked through a booking app into a business account. A small ground-floor unit nearby becomes available, and the trainer plans a studio to share with a second trainer who’ll pay a weekly room fee.
The total comes to about $42k: racks, a cable machine, dumbbells and flooring, plus the bond, signage and two months of rent as a buffer. The trainer’s bank is open to a loan but wants security against the family home, which the trainer would rather not offer for an amount this size.
Instead, the trainer finances the equipment through a chattel mortgage and takes a small unsecured loan for the bond and fit-out, sized on three years of steady app payouts. The second trainer’s room fee covers about a third of the rent from day one, which the lender counts as evidence the studio can carry its costs.
Taking the next step
You coach clients to set goals they can actually hit. A loan should be the same: sized to what your income can comfortably carry, for something that grows your business.
Want a second opinion? Our form needs about a minute of your time, and there’s no credit check involved at the enquiry stage. You won’t end up with a dozen lenders ringing you between sessions, because your details stay with us. One of our team reads through your situation and calls you personally. Be straight with your income and existing debts on the form; accurate numbers are how we get you to a workable option without false starts.
Frequently asked questions
Can a personal trainer get a business loan with an ABN under a year old?
For equipment or a vehicle, often yes, especially with a deposit and a clean personal credit file. For unsecured cash, most lenders want six to twelve months of trading income in a business account first. If you trained clients as an employee before going out on your own, that experience helps, but lenders still need to see your own business income.
How much can a personal trainer borrow?
It depends on how much income passes through your account and what you already owe. Unsecured lenders typically size the loan so repayments are a comfortable share of your monthly takings. A trainer turning over a modest amount might borrow a few thousand dollars for gear; one with a busy client list might borrow considerably more for a studio fit-out.
Do lenders count income paid through booking apps?
Yes, as long as the money is paid out to a bank account in your name, ideally a separate business account. Lenders want to see regular payouts and may ask for the app's reports to match bookings to deposits. Income that sits in a payment platform without being withdrawn is harder for them to verify.
Should I finance a van or ute for mobile training?
If you'll use it mainly for the business, a chattel mortgage or other commercial vehicle finance is common, with the vehicle as security. Talk to your accountant about how business use affects GST credits and deductions, and keep a logbook so the business share can be backed up.
My bank said no. What are my options?
Ask what the reason was. If it was a short trading history or low turnover, equipment finance, a smaller unsecured loan or waiting a few months while your income builds may be better paths. If you own property, a secured loan can open up larger amounts, though it means putting the property on the line.