before you start
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before you make an application

Before you start your application...

Before you start your application download this document. It will summarise what information is needed and give you a chance to get everything together before completing our online form.
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When you ask to borrow money, the lender has one overriding question: if I lend money to this person, do I believe he will pay me back on time, based on what I know about him?

For this reason we have a fairly detailed application form which asks for the information a lender would need in order to decide whether he is comfortable with the loan.

Rest assured that we are careful about how we handle this information. Your website listing will display only brief details about your business, including a description, the loan you need and why.

More detailed information about your company will only be released to lenders who have registered with us and to whom we have given explicit permission once they have applied to us to view your details.

Being able to give seriously interested parties the information they need to make a decision obviously helps in finding lenders quickly and in dealing with any doubts they may have about the risk.

We ask for the following types of information:

  • Credit history. Almost all lenders will insist on a search of your credit record before releasing funds. This will reveal the level of your borrowings, whether you have any late payments, defaults or county court judgements for non-payment. Your application should include any issues about your credit history to ensure the lenders don’t get a surprise.
  • Assets and liabilities. You may wonder why we ask for directors’ personal asset and liablility statement. Many businesses rely to some extent on the background wealth of the owner. For a business with a weak balance sheet the lender may insist on a personal guarantee or a security against the loan, such as property.
  • Security. We will ask for details of any security you choose to make available, such as property, plant, machinery or other assets.
  • Add-backs. The section about company financials includes "add-backs". Items such as depreciation, one-off expenses, directors’ loans and salaries may be deducted from the company expenses to show the optimised profit in the business. It is worth spending a little time to calculate these to give lenders a true picture of your company profits.
  • Payment. A fee of £95 is payable when we accept an application you have submitted. We review each submission to ensure it meets the suggested criteria to attract lending and will contact you to confirm acceptance, recommend changes, or suggest suspending the application until a stronger case can be assembled. If it is decided not to publish the application in the light of this review then your full fee is refunded. We try hard to ensure that quality applications are submitted. Lenders do not want to waste time on weak applications, and borrowers do not want to waste money on a listing that does not get funded.
  • Uploads. The final part of the application invites borrowers to upload the following documents:
     - Business plan guide notes on preparing a Business Plan
     - CV's for the management team
     - Latest filed accounts, if available
     - Management accounts

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