What is the funding for?
Explain what the funding will be used for, when it is needed and why that amount is appropriate. Working capital, an asset purchase and expansion may have different cash patterns. A clear purpose helps define the information required.
Figures a funder may ask about
A funder may want to understand historic results, current trading and existing commitments. Keep the accounts and management figures consistent with the story in the proposal. Gaps or unusual movements should be explained rather than left to interpretation.
Building a credible forecast
A cash forecast should show the assumptions behind the funding need and proposed repayments. Test a less favourable scenario too. The aim is a credible account of the business position, not a set of optimistic figures designed only to reach a target.
cash flow forecastsReviewing the application story
Stour Business Partners helps with business plans and projections and has contacts in finance and banking, including factoring and invoice discounting. We can discuss the preparation needed and appropriate introductions. The lender or provider makes its own assessment and decision.
Your questions, answered.
Can an accountant guarantee finance approval?
No. Approval is the funder’s decision and depends on its assessment of the application.
Do I need up-to-date accounts?
Up-to-date financial information is useful and may be requested. The exact requirements depend on the funder and proposal.
Can you recommend a lender?
We have professional finance and banking contacts. Discuss the requirement so any introduction is appropriate to the circumstances.