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Ten Tips for Preparing Your Commercial Finance Application

When making any kind of loan application, we naturally want to maximise our chances of success. Whether it’s for a mortgage loan, car finance, or even a credit card, we all know we need to present our application in the best possible way to potential lenders.

Commercial finance adviser offering advice to a business client

Commercial finance or business funding is no different. In commercial finance, as in life, first impressions really matter. And yet, many clients who come to us looking for a business loan, or another form of commercial finance, are often unprepared and unconvincing.


As we tell those clients (as diplomatically as we can!), if you’re not convincing us, you’re not going to convince most lenders. But don’t panic – there are several things you can do as a commercial borrower to prepare your finance application properly and give yourself the best possible chance of getting approved for the finance you need.


We've prepared a comprehensive guide for anyone looking for any kind of commercial finance, from business loans, asset finance, a bridging or auction loan, buy-to-let, commercial mortgages or development finance. Whatever kind of finance you need, following the advice in these ten tips can make the difference between getting your financing deal across the finish line, and falling at the first hurdle.


So, if you’re thinking of applying for any form of commercial finance, here are some of the things that will maximise your chances of success:


1. What’s your (loan) story?

In the world of commercial finance, few decisions are made without a final decision from a human, even if computer algorithms are used to make an initial credit assessment. This is especially true for larger or more complex transactions.


So just like any kind of human interaction, it’s important to look your best. This means you should take the time to make your application look the best it possibly can. If you appear disorganised and unprepared, this will be obvious to a lender who specialises in commercial finance and sees applications from companies like yours every day.


2. Make mine a CAMPARI

When you’re thinking about applying for commercial finance, use this mnemonic to consider how your application will appear to your broker or to potential lenders:

CAMPARI: Character, Ability, Means, Purpose, Amount, Repayment, Insurance. 


To continue reading our top tips for preparing your commercial finance application, click here to gain access to the PDF guide which you can download or print to peruse at your leisure.


Needless to say, working with a professional commercial finance broker dramatically increases your chances of success, so please get in touch if you require immediate assistance or would simply like a free, no-obligation chat to consider your options.


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