Preparing your Application
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Assessment
Nothing here is unusual for a Business that hasn’t yet prepared for a transaction. The good news: these questions are knowable, and addressable, starting now.
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Change Score
Capacity is the cash-flow test: after the new payment, does the Business still cover what it owes — comfortably, not narrowly.
It is the heaviest thing in your score and the first thing an Underwriter models. Thin coverage is the most common reason a workable request is declined.
Calculate coverage with the new payment included
Clear or consolidate the smallest obligations first
Size the ask against what cash flow actually supports
Have twelve months of bank statements ready
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Statistic Description
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Change Score
Character is the track record behind the numbers — your personal credit, how current and reconciled the books are, and how long you have traded.
Underwriting moves at the speed of your paperwork. Clean books and a settled credit history are what let a Lender take the rest of the file at face value.
Reconcile every account and close the books monthly
Pull your own credit report before a Lender does
Keep two years of returns and statements within reach
Dispute errors now — corrections take weeks to clear
36%
Statistic Description
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Change Score
Conditions is the situation around the request — the size and direction of Revenue, and how precisely you can account for where the money goes.
Lenders fund plans, not intentions. A Business growing steadily with a documented use of proceeds reads very differently to one flat with a general idea.
Write the use of proceeds down line by line
Show the trend in figures rather than describing it
Explain any dip before you are asked about it
Tie the ask to what the money will actually produce
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Change Score
Collateral is what secures the request. What matters is less what you own than whether the value is documented and the assets sit free of liens.
Collateral widens the range of Lenders who can say yes — and undocumented value is treated as no value at all, however real the asset behind it is.
List assets at current value, not purchase price
Run a UCC search and clear anything already filed
Get equipment and property appraised in advance
Separate personally-owned assets from Business ones
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Statistic Description
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Change Score
Capital is what you put in alongside the Lender. It carries the smallest weight in your Index and sends the clearest signal of conviction.
Many Lenders expect an injection, and the ones that do not still read it. Money of your own in the deal moves the question from whether to fund to how.
Decide what you can contribute before a Lender asks
Document where the contribution is coming from
Season the funds in the Business account beforehand
Count seller or partner money as part of the answer
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Statistic Description
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