Help & Advice
Before submitting an application for funding here are some useful tips about what the finance companies like to see:
- Recent management accounts
- Last 3 months bank statements
- Steady business growth
- Management controls are in place
Funders are not afraid of considering applications where a company has a history of:
- Adverse credit issues
- Bad debts
However, they do need to understand the reason for the loss. For example:
- We lost our major customer and it took us a while to replace them. As you will see from the management information we have replaced the lost customer and are now back to profitability
- I went through a divorce and ….
- Our customer let us down badly, but this is what we’ve done to recover the losses and make sure it doesn’t happen again.
EFT Finance is here to help you arrange the funding you require to help your business grow. If you would like a chat call us on 01403 258934 or email us.