What lenders want to see
- Two or three years of the business's financials and recent management accounts
- Add-backs explained and supported, not just listed
- A forecast showing the business can service the new debt
- Your relevant experience or a clear plan for the first year
- Security, which is often property, although some lenders fund on cash flow alone for strong businesses
Franchise systems that are accredited with the banks often get better terms. Independent businesses can still get funded, but the application needs more work.
For larger or more complex purchases, Levelhead can prepare the forecast, the business plan and the credit paper that goes to the bank.