How can I improve the chance of my application being successful?

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