How many months of bank statements do lenders usually ask for?

Most lenders ask for between 3 and 12 months of business bank statements, with 6 months being a common minimum. The exact requirement depends on the lender, the product and the business’s trading history.

Will a lender always need statutory accounts?

Limited companies are typically asked to provide 1–3 years of filed statutory accounts, but some lenders will accept recent management accounts for newer or seasonal businesses. Start-ups often face stricter documentation requirements or alternative funding routes.

Can I speed up approval by preparing documents in advance?

Yes. Preparing a clear, dated set of bank statements, management accounts, VAT returns and ID documentation before you apply can significantly speed up lender assessment and improve your chances of a timely offer.

What documents will lenders typically ask for (bank statements, management accounts, VAT returns)?

Short answer: what lenders usually request

Lenders commonly ask for a core set of documents to assess a business’s financial health, creditworthiness and ability to repay finance. These usually include recent business bank statements, management accounts, VAT returns, company accounts, and identity checks for directors and key shareholders. The exact combination and timespan vary by lender, product and the borrower’s circumstances.

Core financial documents lenders almost always request

Bank statements are the single most used document for many lenders because they show actual cash flows, transactions and overdrafts. Typically lenders ask for 3–12 months of business bank statements, and personal bank statements if directors’ personal finances are relevant.

Management accounts provide a monthly or quarterly view of profit and loss and balance sheet movements. Lenders usually request the latest management accounts covering at least 3–12 months, especially for trading businesses with seasonal variation.

VAT returns are commonly requested for VAT-registered businesses as they show turnover and VAT due over time. Most lenders ask for the last 3–4 quarterly VAT returns, or recent annual VAT summaries where applicable.

Why these matter

Bank statements confirm cash in and outflows, paying creditors and salary costs. Management accounts and VAT returns corroborate turnover, margins and tax liabilities that help lenders build a repayment profile.

Statutory accounts, tax records and business structure checks

Companies House filed accounts or statutory accounts are standard asks for limited companies. Lenders look at the last 1–3 years of filed accounts to review historic profitability, retained earnings and balance sheet strength.

Self-assessment tax returns, corporation tax filings and PAYE records may be requested to cross-check declared income and liabilities. Sole traders and partnerships will commonly provide SA302s or full tax computations.

Proof of business ownership and structure documents, such as incorporation certificates, shareholders’ registers and partnership agreements, are requested to verify who can legally sign agreements. Lenders must ensure the applicant has authority to borrow and that security (if taken) is enforceable.

When additional statutory records are needed

If the loan is secured or large, lenders often require directors’ loan accounts, capital allowances schedules and depreciation records. These documents help underwrite the value of assets and the company’s true equity position.

Asset and contract evidence for asset-backed or cashflow lending

For asset finance and equipment loans, lenders ask for invoices, purchase orders, valuations and photos of the assets to be financed. They may also request supplier quotes and maintenance records for used assets.

Invoice finance or factoring providers will require sales ledger ageing, copies of key invoices and details of top customers. These documents let the lender assess debtor quality and concentration risk.

For cashflow or working capital facilities, lenders like to see customer contracts, recurring revenue evidence and historical sales pipelines. This reduces reliance on a single period’s accounts and demonstrates future income visibility.

Example: cashflow-specific evidence

When applying for a cashflow loan, prepare recent bank statements, management accounts and three months of VAT returns. You can learn more about cashflow loans and how lenders assess them at our cashflow loans page: Cashflow loans.

Identification, compliance and supporting information

Know Your Customer (KYC) checks require passports or driving licences, proof of home address and company beneficial ownership details. Lenders must verify identities to meet Anti-Money Laundering (AML) and counter-fraud obligations.

Insurances, business licences and relevant certifications may be requested for industry-specific lending, such as transport or care sectors. These documents show operational compliance and reduce lender risk.

Credit reports for the business and directors are commonly pulled by lenders or requested directly. Lenders consider historic credit behaviour, county court judgments and previously defaulted facilities when pricing or deciding applications.

Data accuracy and consent

Ensure all documents are consistent and dated correctly; lenders may refuse or delay applications where records are inconsistent. Consent to share data with intermediaries and third-party brokers is typically required for introducer platforms like Best Business Loans.

How to prepare and speed up your application

Gather standard documents before you apply: 6–12 months of business bank statements, latest management accounts, 3–4 VAT returns, and 1–3 years of statutory accounts. Having these ready reduces turnaround time and helps secure better terms from lenders.

Label and date digital files clearly and provide reconciliations where required. A short cover note summarising recent trading, key customers and one-off items (e.g., exceptional costs or recent asset purchases) helps underwriters understand context quickly.

Use an introducer or broker if you want to avoid multiple repetitive submissions; they can match your profile to lenders with specific criteria. Best Business Loans connects you with lenders and brokers but does not provide credit itself, so our Quick Quote helps identify eligible options fast.

Practical document checklist

Business bank statements — typically 3–12 months.
Management accounts — monthly or quarterly, latest 3–12 months.
VAT returns — last 3–4 quarters.
Statutory accounts — 1–3 years filed at Companies House.
Tax returns — SA302s or company tax computations.
ID & proof of address for directors and beneficial owners.
Contracts, invoices, asset invoices, valuations (as applicable).

Key takeaways and next steps

Most lenders rely on bank statements, management accounts and VAT returns as core evidence of trading and cashflow. Additional documents—statutory accounts, tax records, asset invoices, ID and contracts—are common depending on product and size of facility.

Preparing a concise, consistent and dated document pack speeds decisions and often improves access to better offers. If you’d like a quick eligibility check or a tailored quote, complete our Quick Quote form and we’ll match you to lenders or brokers who may be able to help.

Ready to move forward? Submit a Quick Quote now to get a no-obligation Decision in Principle and see which finance options could suit your business. Best Business Loans is a trusted introducer that helps UK businesses connect to finance providers; we do not provide loans ourselves.

Need help compiling documents or deciding what to submit? Our UK support team can guide you through the document checklist and next steps. Email hello@bestbusinessloans.ai or start your Quick Quote today — it’s free and takes just a few minutes.