How to apply

Simpler than ever

Many providers now connect directly to a business's accounting package and bank accounts. These connections, often called syncs, let a business upload its financials instantly, with no paperwork.

Read what the video shows

An illustration of what an application needs. Many providers connect directly to a business's accounting package and bank, so its financials upload instantly. Otherwise most financiers look at the last two years of financials, the receivables and payables ledgers, the tax position and paper trail examples. A paper trail is the purchase order, signed proof of delivery, invoice and remittance for a sale. The financier reviews a couple of these, and lenders also understand the platforms businesses use and can often rely on them.

If you prefer paper, most financiers will look at:

• the last two years of business financial accounts;
• the accounts receivable ledger (what customers owe the business) and the accounts payable ledger (what the business owes its suppliers);
• the business's tax position;
• paper trail examples.

What's a paper trail?

A paper trail is the series of documents used in making a sale to a customer. It generally includes:

• a purchase order from the customer;
• a proof of delivery or service, signed by the customer;
• the invoice issued to the customer;
• a remittance after payment.

The financier will review a couple of these. While it's important that businesses take care of their documents, lenders also understand the systems businesses use, such as online order and delivery tracking, and can often rely on them for an application.

Requirements vary between providers, so check what yours needs before you apply.