How to prepare your accounts for a finance application

Step 1: Get your bookkeeping current

Lenders assess recent performance, so out-of-date books weaken your case. Reconcile everything — see bank reconciliation — so your figures are current and credible before you apply.

Step 2: Produce management accounts

Recent management accounts show this year's trajectory, not last year's history. A clean profit and loss and balance sheet, backed by current data, is exactly what a lender wants to see for an affordability decision.

Step 3: Build a cash-flow forecast

A credible cash-flow forecast shows you understand your money and can service the facility. It demonstrates the timing gap the finance fills and how repayment fits — a powerful part of any application.

Step 4: Know your key numbers

Be ready to explain your margins, working capital, debt and how you will use and repay the money. A director who knows their figures inspires confidence; one who does not raises doubt.

Step 5: Present cleanly and apply

Tidy accounts, current filings and a clear story make a lender's decision easy. With Credicorp, business borrowing is company-only with no personal guarantee.

Credicorp lends to your company, not to you personally, and takes no personal guarantee. See indicative terms on business loans, or apply online in minutes.