How to secure funding for your business, fast
What lenders look for, how to prepare your application and how non-bank funding can settle in days rather than weeks.
Know what you need — and why
Before approaching any lender, be clear on three things: how much you need, what the funds are for, and how the loan will be repaid. A lender’s first questions will be about the loan amount, the security and the exit, so having clear answers speeds everything up.
Choose the right type of funding
Short-term needs such as stock or a cash-flow gap often suit a line of credit or an unsecured loan. Larger amounts — buying a business, expanding premises or refinancing debt — are usually better served by a loan secured by real estate, which can offer a higher limit and sharper terms.
Prepare your paperwork
- Details of the property offered as security
- A summary of the business and what the funds will be used for
- Your exit strategy — sale, refinance or cash flow
- Identification for all borrowers and guarantors
Why non-bank funding can be faster
Banks work through multiple layers of credit policy. A non-bank lender like Apple Finance assesses the deal on its merits: we issue a term sheet within 24 hours of approving the loan, and funds are paid within 48 hours of the loan conditions being met. With our 3 step funding system we often settle within 5 working days.