Define the borrowing need
Set out the amount, purpose and intended repayment source. For an ongoing facility, include when cash normally comes in and when the business must meet its bills. For a property purchase, provide the address and proposed settlement date.
Prepare the business picture
- Recent business accounts and any current cash-flow forecasts.
- Details of existing lending, leases, guarantees and security.
- Contracts, purchase documents or quotes that explain the funding request.
- The people and entities involved and the timeframe for a decision.
The adviser can discuss relevant lenders and tell you which records they require. A lawyer and accountant can advise separately on guarantees, ownership and tax.
Enquire about a business loan