What information do I need to apply for a business loan?

The at-hand checklist

Most working-capital applications come down to four things. First, your company's identity — registered name, company number and registered address. Second, evidence of trading: recent business bank statements, or consent to view them securely through Open Banking. Third, a rough figure for monthly turnover so the lender can gauge affordability. Fourth, the amount you want and what it is for. Gather these before you start and the form takes minutes rather than days. The downloadable application checklist lays it out in order.

Why trading evidence matters most

Of everything on the list, the bank record carries the most weight. Short-term finance is assessed on cash flow a lender can actually see — money flowing into the account, the rhythm of income and outgoings, and whether the business comfortably covers its costs. That is why recent statements, or Open Banking access in their place, do most of the heavy lifting. A formal business plan is usually not needed for working capital; see do I need a business plan.

Statements or Open Banking

You can usually provide your trading evidence in one of two ways: upload recent business bank statements as PDFs, or connect your account through Open Banking so the lender sees a read-only view directly. Open Banking is faster and removes the back-and-forth of finding and uploading files, but the manual route is always there if you prefer it. Either way the lender is reading the same thing — real trading. See do I need to connect my bank account.

What you do not need

It is as useful to know what to leave out. For short-term working capital you generally do not need a long written business plan, audited accounts, a deck of forecasts, or security and personal guarantees to pledge — the assessment is built on real trading, not promises. Gathering documents the lender never asked for is a common way to slow yourself down. Keep the focus tight: identity, trading evidence, turnover and purpose. If you are weighing whether a plan is needed at all, see do I need a business plan, and for the no-guarantee point, how no-personal-guarantee lending works.

What this means for your company

Spend five minutes before you apply pulling the four essentials together, and keep the business bank account tidy in the run-up. Credicorp lends to the UK limited company and does not take a personal guarantee, so the assessment rests on the company's own record — clean, recent trading evidence is worth more than any amount of paperwork. When you are ready, the full step-by-step is in how do I apply for a business loan.