Wed 14 / 10 / 20
Top Tips on Applying for Finance
As a responsible finance provider, at Let’s Do Business Finance, we offer a variety of financial services to help businesses across the South East to start up, grow and thrive. We’ve put together a list of tips for businesses when applying for finance:
• Have a Business Plan that provides a little background and demonstrates that you know and understand your business.
• Tell your story and why you need the money. We love to hear more about you, and why you want to start-up your business or how you plan to develop it.
• Make sure you have up-to-date financial information available, and your last annual accounts and latest management accounts.
• You’ll need forecasts – at least a 12 months cashflow forecast – these need to be realistic and demonstrate the amount you need, when and that you can afford to cover the repayments (if you are showing huge credit balances after a few months we’ll be wondering why you need the funding!);
• Be realistic – don’t ask for more than you need.
• Shop around – your existing provider may not always offer the best deal, or the best product for your need.
If you want to contribute to the Chamber blog, contact us on firstname.lastname@example.org