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Small Business Loan Applications

Loan applications a lender can say yes to: purpose and affordability, clean credit files, a lender-ready plan and forecast, the document pack, offers compared, drawdown and the covenants that follow.

Free · Mac (Apple silicon) and Windows · v1.0.0 · Other platforms

Then open the Marketplace in the app, search for Small Business Loan Applications, and click Install. It goes into your own files, and works offline from then on.

Before you start: this plan is general information to help you organise your own money decisions. It is not financial, investment, tax or legal advice. Check decisions that matter with a qualified, licensed adviser in your country, and remember that investing and trading can lose money.

What it installs.

1

Pillar

1

Area

50

Projects

201

Starter tasks

💰 Fundraising & Investor Relations

Small Business Loan Applications

Applying for bank loans, government-backed lending and asset finance with business plans, forecasts and the documents lenders ask for.

  1. Loan purpose, amount and term statement
  2. Map of business borrowing options
  3. Business and personal credit report check
  4. Repayment capacity check before applying
  5. Six months of clean business bank statements
  6. Lender document pack checklist
  7. Security and personal guarantee inventory
  8. Accountant or broker support decision
  9. Filed accounts and tax returns in good order
  10. Lender-focused business plan
  11. Monthly cash flow forecast with repayments built in
  12. Downside scenario and repayment stress test
  13. Use of funds schedule backed by quotes
  14. Monthly management accounts lenders can read
  15. Loan application pipeline tracker
  16. Quarterly credit file watch
  17. Business debt register and repayment calendar
  18. Loan covenant and reporting calendar
  19. Annual relationship manager review
  20. Quarterly refresh of the lender document pack
  21. Loan insurance and security upkeep
  22. How lenders assess a credit application
  23. Reading a loan offer letter line by line
  24. Personal guarantees, charges and debentures explained
  25. How government-backed loan guarantees work
  26. Hire purchase, leasing and asset finance basics
  27. Fixed and variable rates and the true cost of borrowing
  28. Presenting your business to a lender
  29. Comparing loan offers on total cost
  30. Equipment purchase on asset finance or cash
  31. Commercial mortgage for business premises
  32. Commercial vehicle and fleet finance
  33. Overdraft and revolving credit facility sizing
  34. Refinancing expensive short-term business debt
  35. Bank, credit union or alternative lender choice
  36. Negotiating security, guarantees and fees
  37. Application submission week
  38. Lender meeting and site visit preparation
  39. Underwriter questions turnaround
  40. Conditions precedent and drawdown
  41. Recovering from a loan decline
  42. Start-up loan for a business under two years old
  43. Sole trader loan with mixed personal finances
  44. Franchise opening loan application
  45. Disaster recovery and emergency business loans
  46. Community development lenders and microfinance
  47. Borrowing after a loss-making year
  48. Covenant breach early warning and waiver request
  49. Releasing personal guarantees as the business grows
  50. Three-year business borrowing plan

Where it starts.

Each project arrives with its purpose, milestones and first tasks written out. Here is how the first three read.

Loan purpose, amount and term statement

Lenders open every file with the same three questions: what is the money for, how much is needed, and how will it be paid back. Writing a one-page answer before you speak to anyone stops you asking for a round number that does not match the quotes, and lets you match the term to the life of what you are buying, so a five-year van is not on a ten-year loan.

First tasks

  • Write two sentences on what the loan will pay for and why now
  • List every cost the loan must cover, with a quote or estimate for each
  • Add fees and a contingency, then round the total up to the requested amount
  • Match the requested term to the useful life of what you are buying

Map of business borrowing options

Term loans, overdrafts, government-backed loans, asset finance, commercial mortgages and microloans each suit a different need, and the wrong product is one of the most common reasons a sound business ends up with a poor deal. Laying the options side by side against your stated purpose shows which two or three are worth applying for and which lenders offer them.

First tasks

  • List the borrowing products described on your bank's business pages
  • Note typical term, security and speed of decision for each product
  • Mark which products fit the purpose in your loan statement
  • Name two lenders offering each product you shortlist

Business and personal credit report check

Most small business lenders look at the business's credit file and the owners' personal files, and an old address, a defaulted phone contract or someone else's debt linked to you can decline an application before a person reads it. Pulling every report now leaves time to correct errors, which can take several weeks to clear.

First tasks

  • Find which credit agencies operate in your country and how to get free reports
  • Download personal reports for every owner who may guarantee the loan
  • Order a business credit report for the company
  • Dispute each error in writing and keep copies of the letters

Make it yours.

Install Small Business Loan Applications, then tell Aurum the date you're aiming for. It checks whether the plan fits the weeks you actually have.

Free · Mac (Apple silicon) and Windows · v1.0.0 · Other platforms

Blueprints are general information to help you organise your own work. They are not medical, financial, legal or other professional advice. See the Terms.