What information and documents do I need to apply (accounts, bank statements, supplier quotes)?

The quick answer: your essential documents checklist

Most UK lenders will ask for clear proof of who you are, how your business performs, and what the funds will be used for. In practice, that means identity and company information, recent financials, 3–12 months of business bank statements, and quotes or invoices if you’re buying assets. The quicker you can supply complete, consistent documents, the faster you can get a decision in principle.

Here is the core list most established SMEs need for a business finance application:

• Basic business profile: registered name, trading address, Companies House number, nature of trade, time trading, ownership/shareholding.
• Director and PSC ID: passport or driving licence, proof of address, and sometimes a selfie ID check or video KYC.
• Annual accounts: last filed statutory accounts (preferably the last two year-ends), plus the latest management accounts.
• Bank statements: business current account statements for the most recent 3–12 months (PDF downloads, unedited).
• Tax and HMRC: VAT returns, PAYE summary, and evidence of any Time To Pay arrangements if applicable.
• Aged debtor and creditor reports: up-to-date ledgers showing who owes you and who you owe.
• Existing finance: schedules for leases, HP agreements, loans, and credit lines.
• Use of funds: supplier quotes/pro-forma invoices, contracts, project summaries, or refurbishment plans.
• Security and insurance: asset lists, valuations, debenture details, personal guarantee consent, and relevant insurance certificates.

How many months of bank statements do I need?

Unsecured working capital lenders often ask for 3–6 months; asset finance or refinance can be 3 months; invoice finance may ask for 6–12 months plus debtor data. If you have seasonal trading, provide a longer run so affordability is clear across the cycle.

Not every product needs every item, but this list will cover 90% of lender requests for trading UK companies.

Prove who you are: KYB/KYC, company details and ownership

Lenders and brokers must complete “Know Your Business” (KYB) and “Know Your Customer” (KYC) checks to meet anti-money-laundering and fraud rules. Expect a light but thorough digital verification process. Having these items ready prevents delays and avoidable back-and-forth.

Core identity and compliance documents

• Registered and trading names, Companies House number (or partnership details), and SIC codes.
• Trading address, correspondence address, landlord/lease details if relevant for fit-outs.
• Director/PSC identity: passport or photo driving licence; proof of address dated within 3 months (utility bill, bank statement).
• Ownership structure: cap table or shareholding breakdown; parent/subsidiary links if any.
• Business insurance: Employers’ Liability (if applicable), Public/Product Liability, Professional Indemnity where relevant.

What lenders look for at this stage

• That the business is legitimate, active and trading in the UK.
• That directors have been verified and pass standard checks.
• That there is no mismatch between application details, Companies House, and bank records.

Time-saving tips

• Ensure Companies House filings and registered addresses are up to date before you apply.
• Match the legal entity name exactly across accounts, quotes and bank statements.
• Have clear authority from all directors/PSCs if a personal guarantee may be requested.

Best Business Loans will ask only for information needed to match you to suitable providers. We do not sell your data and we share details securely with relevant, UK-based finance professionals.

Show financial performance: accounts, management accounts, VAT and debtor data

Annual accounts help lenders understand your profitability, balance sheet strength and debt service history. Because year-end documents can go “out of date” quickly, most funders also want recent management accounts. If you’re growing fast or recovering from a one-off challenge, this is your chance to show the latest trajectory.

Annual accounts and management accounts

• Statutory accounts: last one or two filed year-ends (full if available; abbreviated or micro-entity may limit options).
• Management accounts: P&L and balance sheet to the most recent month-end, ideally within 4–8 weeks of the application date.
• Notes: explain exceptional items, group charges, or director loans so underwriters understand context.

Lenders will often calculate affordability ratios such as interest cover, debt service cover, and leverage. Strong, consistent management accounts can offset thin or abbreviated filed accounts.

HMRC filings and tax position

• VAT returns: last four quarters or 12 months where relevant, plus MTD screenshots if helpful.
• PAYE and CIS: overviews that confirm timely payments or any formal Time To Pay arrangements.
• Corporation tax: note due dates, payments made, and any deferrals.

A “clean” tax position is a positive signal. If you have arrears, be transparent and provide evidence of agreed payment plans; many lenders will still consider applications where the underlying business is sound.

Aged debtors and creditors

• Aged debtor report: show totals and ageing buckets (current/30/60/90+ days) to evidence revenue quality.
• Aged creditor report: demonstrate supplier relationships and payment discipline.
• Top 10 customer concentrations: helpful for invoice finance or where revenue is concentrated.

Healthy debtor days and diversified customers can improve terms. If your ledgers are stretched, offer commentary on actions taken to reduce DSO or tighten credit control.

Evidence affordability: bank statements, cash flow and existing commitments

Business bank statements are the single most powerful real-time window into cash flow, seasonality and spending discipline. Provide native PDF downloads from your online banking, with all pages included. Never edit or crop statements; lenders run automated authenticity checks.

What lenders analyse in bank statements

• Average monthly income vs. outgoings, and end-of-day balances over time.
• Returned items, unpaid direct debits, excess overdraft usage or persistent “near zero” balances.
• Large one-off transactions, cash withdrawals, or related-party transfers that need explanation.

For cashflow loans, some lenders will connect via Open Banking for a faster, read-only assessment. This can speed up decisions and help secure more appropriate limits.

Existing finance and credit facilities

• Detail all current loans, HP/lease agreements, invoice finance lines and overdrafts.
• Include monthly payments, remaining terms, interest rates, and any security granted.
• Provide settlement figures if you intend to refinance or consolidate.

Underwriters stress-test new borrowing against your current commitments to ensure affordability. If you are refinancing, include a clear rationale and the benefits to cash flow.

Cash flow forecasts and scenario planning

• 12-month cash flow forecast with assumptions, especially for growth, capex or fit-out projects.
• Upside/base/downside scenarios showing how you would service the facility under each case.
• Back up major assumptions with signed contracts, pipeline schedules, or supplier delivery timelines.

A credible forecast can unlock better terms, particularly for project finance, expansion or seasonal businesses.

Prove the purpose: quotes, assets, guarantees and sector specifics

Most providers want to see a clear, specific use of funds. If you’re buying equipment or vehicles, attach supplier quotes or pro-forma invoices that include item descriptions, prices, and VAT. For refurbishments or fit-outs, provide builder quotes, floor plans and timelines.

Supplier quotes, contracts and project evidence

• Equipment/vehicle quotes with brand, model, serial/spec references and delivery terms.
• Fit-out/refurb quotes with detailed scope, materials, labour and contingency allowances.
• Contracts or POs that link investment to revenue, such as new customer orders or service agreements.

Invoice finance, trade finance and asset finance providers rely on document trails. Clean, consistent paperwork reduces questions and brings quicker credit responses.

Security, valuations and personal guarantees

• Asset lists: plant, machinery, vehicles, IT, and any serialised kit; upload photos where relevant.
• Existing charges: copies of debentures or charges registered at Companies House.
• Guarantees: director personal guarantees may be requested; supply ID and consent promptly.

For higher-value equipment, lenders may seek independent valuations or inspection. Ensure assets are insured and provide certificates on request.

Sector-specific extras

• Construction: CIS summaries, project WIP, stage payment schedules and contract references.
• Manufacturing: capacity plans, maintenance logs and key supplier agreements.
• Healthcare/care: CQC registrations, staffing ratios and occupancy metrics.
• Printing and signage: equipment spec sheets, substrate supplier terms and maintenance contracts — learn more in our guide to printing business loans.

Tailoring your evidence to your industry helps underwriters understand risk and resilience. Include any accreditations or quality standards that strengthen your profile.

How to apply via Best Business Loans

• Complete the quick quote form: tell us your business type, purpose of finance and rough amount needed.
• Upload or prepare key documents: accounts, recent bank statements, and supplier quotes or invoices.
• Get matched: our AI-led process introduces you to suitable lenders or brokers for your sector and purpose.
• Decide with confidence: compare terms, ask questions, and proceed only if it fits your goals and cash flow.

There’s no obligation to proceed, and submitting an enquiry is free. We do not offer loans directly; we introduce you to regulated providers or reputable brokers who can help.

FAQs: common document questions

Do I need full accounts if I file micro-entity reports? If you only file micro accounts, expect requests for enhanced management accounts and bank statements. Some lenders may ask your accountant for an accountant’s reference to confirm figures.

How recent should my management accounts be? Aim for month-end accounts no more than 8 weeks old. If they’re older, include a year-to-date snapshot or a short commentary covering the latest trading.

Can I apply if I have HMRC arrears? Yes, in many cases — but disclose them upfront and provide any Time To Pay agreement. Lenders value transparency and a credible plan.

What file formats are best? PDFs are preferred for statements and accounts; spreadsheets are fine for forecasts and aged ledgers. Avoid screenshots where possible.

Will I need a personal guarantee? It depends on the facility, amount and credit profile. Many unsecured and asset finance facilities request a PG from directors or major shareholders.

Important information and fair-promotion notice

Best Business Loans is an independent introducer helping UK businesses find suitable finance providers. We do not provide loans, give financial advice, or guarantee approval, rates or terms.

All information on this page is general guidance only and should not be relied upon as advice. Any finance is subject to status, affordability checks, due diligence and the lender’s criteria.

We aim to ensure our content is clear, fair and not misleading, aligning with FCA, ASA and Google guidelines. Always review full terms and disclosures from any provider before committing.

Key takeaways

• Prepare ID/KYB, recent accounts, 3–12 months of bank statements, and supplier quotes or invoices.
• Strong management accounts, aged ledgers and tax clarity speed up approvals and improve terms.
• Purpose, affordability and sector evidence matter — the right paperwork gets you matched faster.

Ready to check eligibility? Complete a Quick Quote on BestBusinessLoans.ai to be introduced to suitable UK finance providers for your needs.