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If you're looking at starting or growing a business, organising the right funding is vital. Providing a good understanding of your business, and the market in which it operates, helps finance providers' appropriately assess your application for funding.
Here are some of the things a finance provider will be looking at when you apply for finance.
If you would like to know more about the information ASB would require for business finance please get in touch.
Your business and financial plans outline the big picture for your business; where it is, where you want it to go and how you'll get it there.
A business plan is a road map for your long terms goals. It gives you a clear sense of direction and provides you with a yardstick against which you can measure your progress. It also shows you're serious about your application and improves your chances of having business finance approved.
A financial plan will detail how your business is going to be viable. You'll need to provide profit and loss forecasting, cash flow, capital expenditure and information on how loans and investors will be repaid.
A finance provider may also require a copy of further documentation to support your loan application. In your appendices you could attach the following:
This area tells your investor how much funding you require, what you will use the funds for and how you intend to repay it.
Below are some examples of the information that may be collected with your finance application:
If you need help to figure out what type of business lending and level of funding you need, talk with your accountant or get in touch with us and talk to someone from our specialist team.
Every business is different and has unique banking needs, discover your options.
This page is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and should not be relied on. This information has been prepared without considering your objectives, financial situation or needs. We recommend you seek independent professional advice before acting on this information.