Knowing what lenders are looking for is the first step to successfully securing funding for your business. How lenders are looking at your application for funding depends on many factors.
Lenders typically provide up to 10-15% of your business’ annual turnover in funding? That is unless your business offers security like property or assets.
Most businesses have 18-24 months trading history before accessing funding – however younger businesses may be able to access support schemes for start-ups.
Your personal credit record matters – fixing blemishes before applying can make the difference between securing funding or getting declined.