What documents do I need?
Nothing delays an application like a missing bank statement. Here is everything a UK lender is likely to ask for, and why they want it — so you can gather it once and be done.
The business checklist
Most lenders want to see the last six months of trading and a clear picture of what the business already owes. If you use accounting software, exporting your What this meansYour own up-to-date profit and loss and balance sheet, usually from your accounting software. Less formal than filed accounts, and often more useful to a lender. takes two minutes and often does more for your application than a polished business plan.
- Business bank statements — usually the last 6 months, as PDFs from your bank rather than screenshots
- Filed accounts — the most recent set, plus the year before where available
- Management accounts — up-to-date profit and loss and balance sheet if the filed accounts are more than a few months old
- Details of existing borrowing — loans, overdrafts, asset agreements, and any What this meansBorrowing against future card takings. You repay a small slice of each card payment, so repayments rise and fall with your sales. still running
- VAT returns — the last four quarters, if you are registered
- Photo ID and proof of address for each director or owner with a 20%+ shareholding
- Supplier quote or invoice — if the funding is for a specific purchase
- Aged debtor report — for What this meansReleasing cash tied up in unpaid invoices. A lender advances most of the invoice value now and settles up when your customer pays., showing who owes you what and for how long
The personal checklist for directors and landlords
Where a What this meansA promise that you will repay the borrowing personally if the business cannot. It puts your own money — and sometimes your home — at risk, so it should never be signed without understanding it fully. is involved, or where you are borrowing as a landlord, lenders look at you as well as the business. The emphasis shifts to income and outgoings.
- Photo ID — passport or driving licence, in date
- Proof of address — a utility bill or bank statement from the last three months
- Proof of income — payslips, dividend vouchers or drawings, usually covering three months
- Self-employed income — two to three years of accounts or HMRC tax calculations and overviews
- Personal bank statements — three to six months, showing regular income and commitments
- Details of existing credit — cards, loans, car finance and any arrangements you are in
- Deposit evidence — for a property purchase: where the money came from, and when it arrived
The reasoning behind the paperwork
Bank statements are the single most useful document to any lender, because they show real behaviour rather than a summary: whether payments bounce, how tight the month-end gets, whether the balance recovers.
Accounts and tax calculations establish the income figure a lender is allowed to use. Identification exists because UK anti-money-laundering rules require it — every regulated firm has to verify who you are, and that includes us.
What actually delays applications
Screenshots instead of statements. Lenders need the full PDF from the bank, including the header showing the account name and number.
Out-of-date accounts. If your filed accounts are eleven months old, expect to be asked for management figures as well.
Unexplained transfers. A large deposit from an unfamiliar source will always be queried. Have the explanation ready and it is a five-minute conversation.
Let’s find the right financial solution for you.
Not sure whether what you have is enough? Send it over and we will tell you what is missing.
Or email info@nemekfinance.co.uk · Call 07483 159369
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