Guide

Prepare your business for bank financing

Introduction

Most businesses need investment to help them grow, or to develop new products and services, and this almost invariably means looking at external sources. These can include private individuals, venture capitalists, business angels and banks.

You will find it much easier to get finance if you and your business are well prepared and if you know what you need, why you need it, and can show the benefits for both the business and the investor. This guide outlines the ways of preparing to seek funding, particularly from banks. It also explains about the importance of credit ratings for your business and yourself.

If you are not properly prepared, your application may not be successful. This guide also explains how to deal with possible rejection by banks.