Applying for a loan advice

[oreolas]

I am going to need a £10,000 loan from a bank and I would just like some advice on what a bank would normally want to see for it to go smoothly.

I currently have £20,000 in savings and want to invest this into a retail food business. I have a business partner and so far we have produced a business plan, a cash flow and a break-even chart.

The cash flow includes monthly cash flows for the first year. So far it just has income that we have predicted from our sales forecast and also the expenses (fixed and variable). The business plan explains how we have predicted sales figures based on our research. Is there anything else a bank would want to see? I have a feeling it won't be enough . . .

[Big Pete]

I am going to need a £10,000 loan from a bank and I would just like some advice on what a bank would normally want to see for it to go smoothly.

I currently have £20,000 in savings and want to invest this into a retail food business. I have a business partner and so far we have produced a business plan, a cash flow and a break-even chart.

The cash flow includes monthly cash flows for the first year. So far it just has income that we have predicted from our sales forecast and also the expenses (fixed and variable). The business plan explains how we have predicted sales figures based on our research. Is there anything else a bank would want to see? I have a feeling it won't be enough . . .


i think your on the right tack there .. your putting your own hard cash in as well which is good.

so as long as they have 20k security on the loan i would think you should be fine ..

oh also the banks know the figures are made up , so they look more for security than smooth talk and paperwork ..

[Ray Coman]

The Enterprise Finance Guarantee Scheme provides lenders with a government guarantee for 75% of the loan. It assists financing for small and medium sized business in your position.