Securing financing is a pivotal step for business growth and success. At CrediFlex, we prioritise a smooth application process, and proper documentation is key to ensure this.
This month, we’re guiding you through the essential documentation required for your application:
1. Financial Statements:
Most recent annual financial statements (income statements and balance sheets), along with year-to-date accounts if relevant. These documents provide us with a snapshot of your business’s financial health and help us tailor a financing solution that aligns with your business cash flow and needs.
2. Business Plan: (When applicable)
For newer businesses or those experiencing significant change, a business plan is your blueprint for success. This doesn’t have to be a daunting task, and can be shared with your CrediFlex Partner verbally who will make use of a CrediFlex template to document the detail. We’re interested in understanding the changes your business is undergoing, their impact (both positive and negative), your goals, strategies, and how the proposed financing fits within your broader business strategy. This insight into your vision aids us in customising a financial solution for you.
3. Collateral Information:
Details of any assets you intend to use as collateral for the financing arrangement. Whether it’s only the assets being purchased, or any other machinery, vehicles, or property. Knowing the specifics, for example the year, make, model, registration or serial number together with your estimated value and amounts owing, helps us structure and secure a beneficial financing arrangement.
4. Business Tax Returns:
Understanding your current tax position is crucial, whether up to date or if arrangements need to be accounted for; this information helps us customise the financing structure and ensures a smoother application process.
5. Projections or Budgets: (When Applicable)
Future business projections might be required for businesses starting out or those looking to acquire income-generating assets to support further growth. This helps us evaluate the feasibility of your plans and tailor a financing solution that aligns with your business cash flows.
At CrediFlex, our commitment is to streamline the financing process for you. Having these essential documents and information empowers us to expedite your application, ensuring a prompt and personalised financing solution. Contact us today, and let’s work together to unlock your business’s financial potential. Your success is our priority.
While every care has been taken to supply accurate information, errors and omissions may occur. The information in this blog provides general information and is not intended to be financial advice. You should consult a professional financial adviser before making any financial decision. You are solely responsible for any loss suffered from relying on information in this blog. This blog is for the use of persons in New Zealand only. Copyright in this blog is owned by Crediflex.
