Yes. Our funders require us to report back to them on how borrowers businesses are going. As its taxpayer’s money being used our funders need proof that the tax payer is getting value for money. The more positive evidence we are able to report to them the better the chance we have of securing similar funding in the future to lend to local businesses.
Currently, we are required to check regularly on your turnover and the people you are employing. We will usually give you a quick call during which we fill out a brief form, which we send out to you to return.
Posted in: Business Loan FAQs