What documents will lenders typically require (accounts, bank statements, equipment specs)?
Short answer — what lenders normally need
Lenders and commercial brokers typically ask for company accounts, recent business bank statements, and detailed asset or equipment information. These documents let underwriters and brokers assess trading performance, cashflow stability, and the security or suitability of any financed asset. Providing clear, up-to-date paperwork speeds decisions and improves the chance of a favourable match.
Core financial accounts lenders request
Most lenders begin by asking for statutory accounts for the last two to three years. These usually include profit & loss, balance sheet, and notes to the accounts prepared by an accountant or auditor.
For newer or fast-growing firms, management accounts for the most recent months are often requested in addition to filed accounts. Management accounts show current trading performance and can demonstrate recovery or growth not yet visible in annual filings.
Tax filings such as corporation tax computations and HMRC VAT returns are commonly required where relevant. Lenders use tax documents to verify declared turnover and to check for tax-related liabilities or investigations.
What format and dates
PDFs of signed annual accounts and Excel or PDF management accounts are acceptable in most cases. Provide dates and a short cover note explaining any material one-off items or seasonal impacts.
Bank statements and cashflow evidence
Lenders will almost always request business bank statements, typically for the last three to six months. These show payment patterns, cash reserves, overdraft usage, and any unusual credit or debit activity.
For merchants with card sales, providers may ask for merchant acquirer statements or PayPal / Stripe summaries. These help confirm turnover and the proportion of card-based income affecting working capital.
Personal bank statements can be requested where owners provide personal guarantees or where the business is closely held. Transparency on personal finances may influence affordability assessments for small companies or partnerships.
What lenders look for in statements
Underwriters check for consistent income, regular supplier payments, salary drawings, and any bounced payments or arrears. Evidence of large one-off deposits should be explained with invoices or sale contracts to avoid misinterpretation.
Asset, equipment and inventory documentation
When funding is for equipment, vehicles, or machinery, lenders want full equipment specifications and supporting documents. Typical requests include invoices, quotations, serial numbers, manufacturer spec sheets, and delivery or installation schedules.
Where equipment is used as security in asset finance or hire purchase, lenders may need valuations or independent condition reports. These confirm the asset’s market value and expected residual value over the finance term.
If you are exploring specialised funding for plant or machinery, it helps to link technical details and usage hours to the finance application. Clear equipment records reduce the need for follow-up questions and speed approval.
Note: for tailored equipment finance options, you can read more about how equipment is assessed here: Equipment Finance.
Documents to attach for equipment deals
- Supplier invoice or purchase order
- Manufacturer specification sheet and serial number
- Service / maintenance history for used equipment
- Valuation or broker’s condition report if requested
Ownership, legal and commercial documents lenders require
Lenders need to confirm who owns and controls the borrowing entity. Typical documents include a Companies House printout, director ID information, and shareholder register extracts. These records prove legal ownership and the authorised signatories for agreements.
Other legal paperwork commonly requested includes business contracts, major customer purchase orders, supplier agreements, and any hire-purchase or lease documents. Lenders check contract stability and concentration risk if a few clients supply most revenue.
Commercial landlords’ consents and property leases are required when premises form part of the security or when the lender needs to understand occupancy commitments. Environmental permits or licences may also be needed for regulated sectors.
Compliance and AML checks
Expect identity documents for directors and beneficial owners as part of anti-money-laundering checks. Proofs of address and company registration documents are standard before funds move or offers advance to formal approval.
How to prepare, present documents and next steps
Prepare a clear cover sheet listing attached documents and short notes explaining any anomalies. A one-page summary with turnover, EBITDA, loan purpose and required amount helps underwriters and speeds comparisons from brokers.
Keep digital files well-named (for example, “FY23_Accounts_BestLtd.pdf”) and compress multi-page PDFs into single files per document type where possible. Many platforms accept uploads directly, but having a ready zip helps if a broker requests consolidated files.
Be honest about weak points and supply explanatory notes; transparency removes surprises during credit checks. If a lender sees unexplained spikes or related-party transactions, delays are likely until clarification is provided.
Checklist before you submit an enquiry
- Signed statutory accounts (2–3 years) and latest management accounts
- Business bank statements (last 3–6 months) and merchant statements if applicable
- Equipment invoices, specs and valuations for asset-backed lending
- Company registration, director IDs and major contract summaries
- VAT returns, tax computations and any licensing documents
Ready to get matched? Complete a Quick Quote to receive a Decision in Principle or eligibility check from lenders and brokers in our network. Best Business Loans is an independent introducer and will connect you to providers rather than supplying credit directly.
What lenders will check beyond documents
Documentation is one part of the decision. Lenders also consider sector risk, trading trends, director history and any CCJs or county court judgments. A strong, coherent application narrative often matters as much as raw numbers.
For loans secured against assets, physical inspections or external valuations may be required. For unsecured working capital, affordability and cashflow forecasts become the priority.
Timing and common delays
When documents are complete and clearly presented, many lenders can provide an initial decision within 24–72 hours. Formal underwriting and legal checks add further time and can extend a process to two to four weeks depending on complexity.
Common delays come from missing signatures, unverified director IDs, or outstanding tax queries with HMRC. Anticipating these and submitting clear explanations avoids hold-ups.
How Best Business Loans helps you prepare
Our AI-driven matching system guides you on the documents most likely required for your enquiry type and sector. We introduce you to lenders and brokers who actively lend in your area and for your purpose, reducing irrelevant requests and wasted effort.
We do not provide loans ourselves; instead we connect you to suitable providers and help you complete an efficient application. Use our Quick Quote to get started — it’s free and non-binding.
Key takeaways
- Lenders commonly ask for certified accounts, recent bank statements, and detailed asset/equipment documentation.
- Management accounts and merchant statements are important for showing current trading and card sales.
- Legal documents, director IDs and contract evidence are required to verify ownership and commercial risk.
- Prepare a clear summary and well-named digital files to speed lender decisions.
- Best Business Loans connects you to relevant lenders and brokers — submit a Quick Quote to begin.
Compliance note: Best Business Loans is an independent introducer and does not offer credit or provide regulated advice. We aim to be clear, fair and not misleading and will only share your information with relevant, trusted finance professionals. For tailored regulated advice, please consult an authorised adviser.
If you’d like help assembling the documents listed above or want a quick eligibility check, submit a Quick Quote today and we’ll connect you with lenders and brokers who match your needs. Your information is handled securely and confidentially.