Securing a business loan or commercial finance can be difficult when you don’t have the right guidance especially given the overall complexity of the process. We understand that banks and lenders often require every inch of detail, but you’ll be happy to know, we don’t see this as a problem.
Our industry is such that healthy relationships are required whether it be fund providers, lenders or the banks and this is where our 40 years of experience comes in handy. The relationships we have fostered allow us to streamline the process of securing your commercial loan and reducing the wait time before the funds reach you.
Before purchasing a new business or making significant changes to your existing one we highly recommend that you organise your financial affairs until any commitments are made. If you find the thought of that a little daunting, don’t worry because that is why we’re here, we will guide you through all aspects of the preparation process.
Here is a checklist of what you need before committing to a purchase:
Cash flow forecast
Lease agreement for your business
If the business being purchased is already in existence, current financials with 2 years’ comparisons
If the business is new, a detailed breakdown of the start-up costs
If available, a copy of the contract of sale
100 points ID for directors who are applying for finance
Any other supporting documentation that will establish a background of the business and assist your application.
(In all cases, a customised checklist will be provided for your specific situation)
Business and Transactional Banking
As part of our commercial finance service proposition, we also consider your business and transactional banking needs. It almost goes without saying that transactions are at the very core of any business, whether you’re buying or selling you are engaging in a transaction of some sort, therefore it cannot be over-stated what a crucial part of any business this process of transferring money from one place to another is.
Thanks to our specialist knowledge and years of working in the banking industry we will manage your portfolio and make sure that all of your account’s systems, processes and transactions are running like clockwork.
The growth of your business shouldn’t be a difficult undertaking. If you require quality professional advice and assistance, let’s have a chat. We would love to hear about your business.