The Business Finance Checklist
Before applying for business finance, it helps to be prepared. Here are some areas to consider prior to progressing your application for finance.
Prepare your business plan
You should be able to provide us with a detailed account of your business including your revenue strategies, goals and business structure. It’s also important to know your key financial figures like your current income, expenditure, future projections, and be able to provide financial accounts and/or tax returns for the last three financial years to verify your financial position.
For handy tips and advice on creating your business plan, we can help.
Know your finances
You firstly need to work out how much money you’ll need to borrow and then be able to determine how you’ll be able to pay it back. Some questions you can think about are:
- Will you need money upfront or on a need-by-need basis?
- What is the maximum repayment you can afford?
- What type of assets do you have to offer as security?
- How much equity do you have in your property?
- If you need a guarantor, who will be willing to guarantee your loan?
Before applying for business finance, it is essential that you have a detailed understanding of your business plan and your financial position. There will be many questions that we will need to ask you, so it always helps to have as much knowledge on hand as possible.
What you may need to provide
- Your business plan (very important!)
- Key financial statements for the last three financial years
- Personal financial information
We’re here to help
If you would like to know more about applying for business finance, drop into your local branch and chat with one of our team today, or call us on 13 19 87.