Lloyds Bank Commercial Finance Application CheckList

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Information about Lloyds Bank Commercial Finance Application CheckList

Published on March 7, 2014

Author: LloydsBankCommercialBanking

Source: slideshare.net


Helping businesses prepare loan and finance applications from Lloyds Bank Commercial.

FINANCE APPLICATION CHECKLIST Time saving guidance on applying for business finance

PREPARING A SUCCESSFUL LOAN APPLICATION BORROWING REQUIREMENTS TELL US ABOUT YOUR BUSINESS ADDITIONAL INFORMATION In order to offer finance we assess your current circumstances. When you call we will ask for confirmation of certain details and/or additional information. To help save you time we’ve prepared a checklist outlining the kind of questions we’ll ask, although these can vary according to your particular circumstances and the amount you wish to borrow. Any property given as security, which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it. All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business. You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

Your borrowing requirements • • • • How much you want to borrow? How long you want to borrow it for? Why you want to borrow it? How you will repay it?

About your business Type of information that we’ll ask you to provide: • A profile of the business, the owner and/or management team including experience, expertise and track record. • Any amounts that you and/or the management team have personally invested in the business. W •  here assets for security are available, to provide details, including an estimate of valuation (professional valuations will be required in some instances). • Whether you have any other borrowing commitments.

Additional information Other information you’ll need to provide: • Business plans – usually covering the term of the borrowing. • Cash flow forecast – usually covering the term of the borrowing. D •  etails of your business assets and liabilities, including any additional income from other sources. • Management accounts. H •  istoric financial accounts (for example, profit and loss, balance sheet and cashflow statements).

Go to lloydsbank.com/business Visit your local branch Check eligibility, apply online Call us on 0845 072 5555 Lines are open 7am–8pm Monday to Friday and 9am–2pm Saturdays If you have a hearing or speech impairment you can use Text Relay (previously Typetalk) or if you would prefer to use a Textphone, please feel free to call us on 0845 601 6909 (lines open 7am–8pm Monday to Friday and 9am–2pm Saturdays). Important Information Your call may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Telephone: 020 7626 1500. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Licensed under the Consumer Credit Act 1974 under licence number 0004685. We subscribe to the Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk Lloyds Bank plc is covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service. (Please note that due to the schemes’ eligibility criteria not all Lloyds Bank Business Banking customers will be covered by these schemes).

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