How many months of bank statements do lenders need?

Expect to provide 3–12 months of business bank statements in PDF. Shorter trading histories or higher loan amounts generally push lenders toward the upper end of this range. Open Banking access is increasingly used to verify transactions quickly.

Do I need audited accounts to get a business loan?

Most SMEs do not need audited accounts. Accountant-prepared statutory accounts are usually sufficient. For larger facilities or complex group structures, audited accounts or additional assurance may be requested.

What should I provide if my latest accounts are not filed yet?

Provide up-to-date management accounts (year-to-date P&L and balance sheet), aged debtor/creditor reports, and a 12-month cash flow forecast. Explain the timing for filing your statutory accounts and any provisional figures.

What extra documents are needed for invoice finance?

Lenders typically ask for an aged receivables ledger, sample invoices, standard terms, key customer concentrations, debtor quality evidence (e.g., dispute policy, credit insurance) and details of any dilutions. Contracts or purchase orders may also be required.

Will lenders run a hard credit search?

Initial checks are often soft searches. Before drawdown, most lenders will run hard credit searches on the company and, if relevant, directors or guarantors. You will be informed and may need to provide consent.

What if my business has a CCJ or historic arrears?

Many lenders will still consider your application if you explain the context and provide evidence of resolution, such as settlement confirmations. Transparent disclosure and supporting documents can help mitigate concerns.

How can I speed up the underwriting process?

Submit a complete, clearly named document pack in one go, enable Open Banking and accounting access, reconcile management accounts to filed figures, and add short explanations for anomalies. Provide forecasts and a use-of-funds note where relevant.

Does Best Business Loans provide the finance?

No. Best Business Loans is an independent introducer. We use AI-driven matching and a network of lenders and brokers to connect you with relevant providers. We do not offer loans directly or provide regulated advice.

What documents will lenders usually ask for (bank statements, accounts, etc)?

Q: What documents will lenders usually ask for?

Most UK lenders ask for recent business bank statements (3–12 months), filed annual accounts, up-to-date management accounts, HMRC records (CT600, VAT returns, SA302s where relevant), identification and proof of address for directors, and details of existing finance. Depending on the product, they may also request forecasts, aged debtors/creditors, and sector-specific evidence.

Most UK business lenders will usually ask for recent business bank statements, annual accounts, and basic ID documents as a starting point. Depending on the loan type and amount, they may also request management accounts, HMRC records, aged debtor and creditor reports, and forecasts. Preparing these in advance can speed up decisions and improve your chances of approval.

Updated: October 2025

The core document pack most UK lenders request

While every lender has its own criteria, most underwriters rely on a core set of documents to verify identity, trading performance, cash flow and liabilities. These let lenders assess affordability, business stability, and the accuracy of your application. Below is the typical baseline pack for established UK SMEs.

Identity, business and legal documents

Director ID: passport or UK photo driving licence (clear colour scans).
Proof of address: recent utility bill, bank statement, or council tax (dated within 3 months).
Company details: Certificate of Incorporation, Companies House registration, registered address.
Ownership: cap table or share register, group structure chart if applicable.

Banking and cash flow evidence

Business bank statements: typically 3–12 months in PDF, downloaded directly from your bank.
Open Banking consent: many lenders use secure bank feeds for faster, more accurate analysis.
Merchant statements: card takings or marketplace settlements, if material to revenue.

Accounts and management information

Filed annual accounts: last 1–2 years, ideally signed by an accountant.
Management accounts: year-to-date P&L and balance sheet, plus the prior year for comparison.
Aged debtors and creditors: breakdowns to show who owes you, and whom you owe.

Tax and compliance records

HMRC documents: CT600, SA302s for directors if relevant, VAT returns and PAYE summaries.
VAT registration number and Making Tax Digital filings, where applicable.

Existing finance and commitments

Schedule of existing loans, leases, asset finance and overdrafts, including balances and monthly payments.
Any debentures, fixed or floating charges registered at Companies House.

Good to know

Newer businesses may be asked for cash flow forecasts and order books instead of full accounts.
Larger loans usually require more depth, including detailed forecasts and security information.

Documents by finance type (what varies and why)

Document requirements change with the funding product because risk and security differ. Providing the right evidence first time helps lenders complete underwriting without repeated requests. Here’s what lenders often ask for by finance type.

Term loans and revolving credit facilities

Core pack: bank statements, annual accounts, management accounts, HMRC records.
Use-of-funds note: short explanation of how funds will be used and expected benefits.
Forecasts: 12-month cash flow and assumptions, especially for growth or turnaround cases.

Asset finance and refinance

Supplier quote or pro forma invoice with asset description, serial numbers and cost.
Valuation report for refinance or used assets, including age, condition and expected residual.
Insurance evidence and maintenance schedules for high-value machinery.

Vehicle and fleet finance

Vehicle details: make, model, age, mileage, VIN, and purchase price or valuation.
Operator’s licence for transport firms where relevant.
Existing V5C and settlement letter for refinance cases.

Invoice finance (factoring and discounting)

Aged receivables ledger and top customer concentrations.
Sample invoices, contracts or purchase orders, and standard terms.
Debtor quality evidence: dispute policy, credit insurance if in place, and dilutions history.

Fit-out and refurbishment finance

Scope of works, itemised quotes, and project plan with milestones.
Landlord consent and lease details, plus any planning permissions.
Cash flow forecast showing staged drawdowns and contingency.

Growth Guarantee Scheme and other government-backed options

Eligibility evidence as specified by the scheme rules.
Enhanced forecasts, detailed business plan, and stress testing of scenarios.
Confirmation of any previous government-backed borrowing and current balances.

Tip

When funding is secured against assets or receivables, expect extra due diligence and valuations.

Sector-specific evidence lenders may request

Underwriters tailor requests to industry risks, regulation, and trading patterns. If your sector has licensing or compliance requirements, expect lenders to ask for proof. The list below highlights common examples by sector.

Construction and trades

CIS statements and HMRC verification for subcontractors.
Work-in-progress schedules and contract pipelines.
Performance bonds, retention details, and main contractor agreements.

Transport and logistics

Operator’s licence and maintenance records.
Fuel cards and telematics data for utilisation analysis.
Key customer contracts, route agreements, and demurrage terms.

Manufacturing and engineering

Inventory reports and supplier agreements for key inputs.
Equipment lists, service schedules, and CE/UKCA compliance where applicable.
Quality certifications such as ISO standards.

Retail, hospitality and leisure

EPOS or sales reports showing seasonal trends and average order values.
Lease agreements, rent schedules and business rates.
Supply contracts and franchise agreements where relevant.

Healthcare and care services

CQC registration and inspection reports for care settings.
Staffing ratios, rotas, and agency expenditure.
Insurance policies including professional indemnity.

Agriculture and food production

Subsidy documentation and supply contracts with processors or retailers.
Livestock, crop or feed inventories and biosecurity measures.
Environmental and sustainability certifications or permits.

Professional services

Client engagement letters and PI insurance schedules.
WIP and debtor ageing for fee-earners.
Regulatory registrations where applicable.

Reminder

Sector-specific documents complement your core pack and help lenders understand your risk profile.

How to prepare and present your documents to avoid delays

Clear, complete and consistent documents help lenders move faster and reduce repeated queries. A clean submission can cut days from underwriting and support better outcomes. Use the following checklist to prepare.

Format, accuracy and consistency

Provide PDFs direct from source systems where possible, not screenshots.
Ensure dates align across bank statements, VAT returns and management accounts.
Reconcile MIs to filed accounts and explain any variances or restatements.

Explain anomalies upfront

Flag one-off costs, COVID-era impacts, and seasonal swings with brief notes.
Provide context for returned direct debits, cash injections, or bounced receipts.
Attach supporting evidence such as grant letters or insurance payouts.

Use secure data access

Open Banking and accounting integrations (e.g., Xero, QuickBooks) reduce manual uploads.
Keep user permissions ready so lenders can read data without delays.
Disable multi-factor timeouts temporarily during vetted data pulls if requested.

Forecasts and plans

Provide a 12–24 month cash flow forecast with clear assumptions.
Include a simple business plan: objectives, market, competitors, risks and mitigations.
Add a sensitivity case to show resilience if sales or margins dip.

Governance and security

Have board resolutions ready for borrowing and granting security if required.
Keep insurance details current, including asset, public and employer’s liability.
Prepare draft debenture or PG consent if a lender is likely to request security.

Practical upload tips

Name files clearly (e.g., “ABC Ltd_Bank_2025-01_to_2025-06.pdf”).
Avoid password-protected zips unless agreed; cloud links with access rights are often preferred.
Submit everything in one go to minimise back-and-forth.

What to expect after you submit, and how Best Business Loans helps

Most lenders follow a similar path once they receive your documents. Understanding the steps helps you prepare your team and respond quickly to any follow-up questions. Here’s what the journey may look like.

Typical underwriting timeline

Day 0–1: Initial triage, soft credit checks, and Open Banking connection request.
Day 1–3: Underwriter review, clarifications, and indicative terms if criteria are met.
Day 3–10: Final diligence, conditions agreed, legal docs issued and signing.

Searches, security and approvals

Soft vs hard searches: early-stage checks are often soft, with hard searches before drawdown.
Security: debentures, fixed charges, asset liens and personal guarantees may be requested.
Conditions precedent: insurance, consents, and confirmations before funds are released.

How we support your submission

We help you understand likely document requests before you apply.
Our AI-led matching introduces you to suitable lenders or brokers for your profile.
We do not lend directly or give regulated advice, but we help you prepare a strong, clear pack.

Best Business Loans aims to ensure all information is fair, clear and not misleading. Eligibility and terms depend on your circumstances and lender assessment, and we don’t guarantee outcomes or the lowest rates.

If you run an established SME and want to prepare for funding, explore our guidance on small business loans. When you are ready, complete a Quick Quote to check eligibility and get connected to relevant providers. It is fast, secure and free to submit an enquiry.

Quick answers to common questions

How many months of bank statements? Typically 3–12 months depending on lender and loan size.
Do I need audited accounts? Most SMEs provide accountant-prepared accounts; audits are case-by-case.
What if my accounts are old? Provide up-to-date management accounts and explain the delay.
Can I apply with adverse credit? Yes, but be ready to explain issues and provide supporting evidence.

Key takeaways

Prepare the core pack: bank statements, accounts, management info and HMRC records.
Add product-specific and sector evidence to support your case.
Use Open Banking and clean file naming to speed up underwriting.
Be transparent about anomalies and existing debts to avoid delays.

Important information: Best Business Loans operates as an independent introducer. We don’t provide loans or financial advice. All financial information presented is intended to be fair, clear and not misleading. Eligibility, rates and terms are determined by lenders based on your circumstances and credit status. Submitting an enquiry is free and carries no obligation. Lenders may conduct credit checks and require additional documents before making a decision.