What documents do you need for your funding application? Business owner’s guide


Creating applications is faster and less hassle when the information you need is already available

Your business needs funding, but the phone is ringing. And the new staff member had questions. And your biggest customers expect a revised price quote eventually….

Applying for funding is likely to require some work before you settle in and get started. But by gathering everything you need before you start, you’ll find that you can finish more quickly.

The following are important documents commonly requested by lenders, investors and grant-making bodies:

Financial Documents

  • Income statement: This document shows your business’s income, expenses, and net profit for a certain period.
  • Balance Sheet: A snapshot of your business’s financial health, including assets, liabilities, and equity.
  • Cash flow report: This statement reveals the cash inflow and outflow of your business.
  • Tax refund: Corporate and personal tax returns can provide valuable insight into your financial history.
  • Profit and loss projection: Estimate your future income and expenses.

Business Plan

  • Business plan: A detailed outline of your business, including its mission, goals, market analysis, and financial projections.
  • Executive summary: A brief overview of your business plan, usually one to two pages long.

Legal Documents

  • Articles of association or partnership agreement: These documents establish the legal structure of your business.
  • Operating agreement: For limited liability companies (LLC), this agreement outlines the rights and responsibilities of members.
  • Permissions and licenses: Any permits or licenses required for your business operations.

Personal Information

  • Personal financial report: Your personal income tax return and bank statements may be requested.
  • Resume: Your resume and key employee resumes can demonstrate your team’s experience and qualifications.

Additional Documents

  • Guarantee: If you are seeking guaranteed financing, you may need to put up collateral, such as property or equipment.
  • Reference: Letters of recommendation from clients, suppliers, or business partners.
  • Market research: Data and analysis that supports your market analysis and business projections.

Remember, the specific documentation required may vary depending on the type of funding you are seeking, the lender or investor, and the nature of your business. It is important to prepare a thorough and well-organized package to increase your chances of getting the funding you need.

How does Swoop help?

Swoop uses Open Banking technology to help make the funding application process faster, easier and more accurate.

Open Banking allows Swoop to securely access your financial data, eliminating the need for manual data entry, reducing errors and speeding up the application process. Swoop can verify your financial health directly through bank statements, giving lenders and investors a more reliable picture of your financial situation and matching you with the lender offering the most suitable funding options. This saves time and effort for business owners by eliminating the need to apply to multiple lenders.

Swoop can also analyze spending habits to identify areas where you could potentially save money and offer potential alternative solutions from various providers.

If you have registered for SwoopHave you also registered for Open Banking? Click here to find out

Swoop is a business funding and savings platform that enables businesses to find the right funding solutions across loans, equity and grants, and to easily identify and make savings – all in one fell swoop.

Swoop works with over 1,000 funding providers from mainstream banks, alternative lenders, venture capital funds, angel investors, and grantmaking institutions, meaning whatever your funding needs, Swoop has a solution to suit.



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