Client background
The first step is to get a summary of the business, including the background and history, company names, when it was registered, the industry and a few sentences on what the business does. For company names, ensure that you get the full official name as the business is registered.
Business structure
Knowing the business structure is important because it enables us to determine who is responsible for repaying the loan. Please let us know the business structure: sole trader, corporate trustee, trust or company. If not a sole trader, we will need to know the names of the directors and owners. In addition, please include the details about directors, including their industry experience and directorship tenure.
Business and personal credit scores
Please provide an estimate of business and personal credit scores.
Amount requested and purpose of the loan
What is the amount of funds requested and the purpose of the loan? For example, is it to improve cash flow, purchase inventory, buy equipment or something else?
Annual turnover
Please provide the approximate annual turnover of the business.
Additional credit facilities being used
What other credit is the business using? This could include an overdraft, another fintech business loan, or business credit cards.
Tax Position – GST and PAYG
Information needed includes the amount of any outstanding tax liabilities and whether BAS lodgement is up to date. If there is an ATO repayment arrangement, what is the monthly payment?
Additional information
If you uncover anything else about the business that you believe is relevant, please let us know.
