2 min read
When a plan is not needed
If your company already trades and can show income through the business account, a lender assesses that directly. A short-term working-capital facility is decided on cash flow, not on a narrative plan.
When it does help
A startup with little history, or a company borrowing for a specific project or acquisition, benefits from a short plan explaining the use of funds and the return. Even then it should be concise and numbers-led, not a thick document.
Applying
For a trading company, just bring your figures. apply online.
Frequently asked questions
Do I need a written business plan to apply?
Not usually for an established trading company borrowing against cash flow. Startups and project-specific borrowing benefit from a short, numbers-led plan.
What replaces a business plan for a trading company?
Your bank statements, accounts and a clear reason for the funds. Those show a lender exactly what a plan would try to argue, with evidence.
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