A clear company profile should include answers to the below:
It appears cumbersome but it will be time well spent if you are looking to raise finance in the current market.
Even if the picture appears negative, lenders want to see that detailed thought has been given to the current situation, the commitment involved and a proposed way forward.
Checklist of information to be included:
- Full Company Name
- Company Registration Number / Business Entity
- Full name of loan applicant if different to the above
- Email & Telephone Number
- Company Incorporation Date
- Trading Since (if different to the above)
- Typical monthly sales
- VAT Number (if applicable)
- Number of company directors
- Number of 25% + Shareholders
- Directors Personal details & other
- Need bank 3 months bank statements
- Last 3 vat returns
- Detailed annual accounts
- Latest Management Information – Balance SheeT and P&l
- Balance sheet and P&L
- Current Aged debtor & creditor reports
- Average debtor days where available
- Confirmation of details of any customer concentration greater than 10%
Good luck, keep safe and do call if you would like to talk through.
BBC Article; click here – Coronavirus Impact on UK SME’s
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