Here are some tips to help improve your application to CWRT. They apply equally to applications to other providers of loan finance.
- Explain clearly and simply why you want a loan and how it will benefit your business.
- Evidence your desire and ability to repay the loan.
- Demonstrate your understanding of your market, experience, skills and ability – prove that you have a good track record, both personally and in business behind you.
- Show that your proposition is realistic – and that you are applying for an appropriate amount (too little is as bad as too much).
- Show enthusiasm and belief in your product or service.
- Treat your lender as a potential business partner – be willing to communicate, work together to find appropriate solutions and be open to advice.
- Understand your own forecasts
- Ensure all the information that is requested is provided quickly, this gives confidence to any lender
Posted in: Business Loan FAQs