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What Information Do I Need for a Commercial Finance Application?

📅 Updated September 2026 • ⏱️ 5 minute read

Commercial vehicle finance for UK businesses

What Information Do I Need for a Commercial Finance Application?

If you’re considering commercial finance, you might assume you need a completed business plan, several years of accounts and every detail of the proposed transaction before speaking to a broker.

In reality, you don’t need to have everything ready before the first conversation.

Commercial finance can cover a wide range of requirements, from purchasing business premises and investing in equipment to funding a development or improving working capital. The information required will therefore depend on what you’re trying to achieve and the type of funding being considered.

However, there are some details that are useful to have available when you start exploring your options.

1. Details about you and your business

A lender will usually want to understand who is behind the application and the business that will be borrowing.

This could include:

  • Your business name and trading structure
  • How long the business has been trading
  • What the business does
  • Details of the directors, partners or business owners
  • Relevant experience within the sector
  • Existing borrowing or financial commitments

For newer businesses, the experience and background of the people behind the business can be particularly important.

2. How much you want to borrow

You don’t necessarily need an exact figure at the beginning, but having an approximate funding requirement gives us somewhere to start.

It’s also useful to understand how much you’re contributing yourself, where relevant.

For example, if you’re purchasing a commercial property, we would usually want to know the approximate purchase price and the deposit available.

3. What the funding will be used for

This is one of the most important parts of any commercial finance application.

You might be looking to:

  • Purchase or refinance commercial premises
  • Buy machinery, equipment or vehicles
  • Fund a property development or refurbishment
  • Acquire another business
  • Improve working capital or cash flow
  • Release equity from an existing commercial property
  • Fund expansion or another business opportunity

Understanding the objective helps us identify which types of finance and which lenders may be worth exploring.

4. Business financial information

Depending on the type of funding, a lender may ask for financial information such as:

  • Recent business accounts
  • Business bank statements
  • Management accounts
  • Tax returns or SA302s where appropriate
  • Details of existing borrowing
  • Cash-flow forecasts or projections

Don’t worry if you don’t have all of these immediately.

The information required varies considerably between lenders and types of finance, so we can explain what’s likely to be needed once we understand the proposal.

5. Property or project information

If the finance involves property, we’ll normally need some information about the property itself.

That might include:

  • Purchase price or estimated value
  • Property address and type
  • Current or proposed use
  • Rental income, if applicable
  • Existing borrowing secured against the property
  • Details of any lease or tenancy
  • Planning information where relevant

For development projects, lenders may also want to understand the purchase price, build costs, timescale, experience of the developer and the anticipated value once the project is complete.

6. How the finance will be repaid

Different types of commercial finance are repaid in different ways.

For a commercial mortgage, repayments may come from the ongoing income of the business or rental income generated by the property.

For short-term property finance, such as unregulated bridging finance, the proposed exit strategy is particularly important. This might involve selling the property or refinancing onto longer-term borrowing.

Having a credible repayment strategy is an important part of establishing whether a funding proposal is viable.

What if I don’t have all this information yet?

That’s completely fine.

You don’t need to wait until you’ve assembled a perfect application before speaking to us.

In fact, having an initial conversation earlier can sometimes save time because we can help identify the information that is actually relevant to your particular funding requirement.

You may simply be at the stage of asking:

“I’m considering doing this — what might be possible?”

That’s a perfectly reasonable place to start..

Frequently Asked Questions

Potentially, yes. Many lenders consider used vehicles, although maximum age and mileage requirements can vary.

Not always. The information required will depend on the type of finance, the lender and how long your business has been trading. Established businesses may be asked for recent accounts, while newer businesses may be assessed using other information such as forecasts, bank statements and the experience of the people behind the business.

This varies between lenders. Some may request two or three years of accounts, while others can consider businesses with a shorter trading history. If your latest accounts don’t reflect the current performance of the business, management accounts or more recent financial information may also be useful.

Potentially, yes. A limited trading history doesn’t automatically prevent a business from obtaining finance. A lender may place greater emphasis on the directors’ experience, business plan, forecasts, deposit or security available and the purpose of the borrowing.

Not for every application. A straightforward commercial property refinance, for example, may not require a formal business plan. For a new venture, business acquisition or more complex proposal, a business plan and financial forecasts may be more important.

There isn’t one standard deposit requirement for commercial mortgages. The amount will depend on factors including the property, its intended use, the strength of the business, affordability and the lender’s criteria.

Rather than assuming you need a particular percentage, it’s worth discussing the proposed purchase and available deposit to establish which lenders may be suitable.

Development lenders will usually want to understand the site or property, purchase price, development costs, planning position, proposed works, timescale and anticipated value once completed.

They’ll also typically consider the developer’s experience, their own financial contribution and how the development finance will ultimately be repaid.

The exit strategy is how the bridging loan will be repaid.
For unregulated bridging finance, this could potentially be through the sale of the property or refinancing onto suitable longer-term borrowing.

The exit shouldn’t be an afterthought. Understanding whether it is realistic is an important part of considering the short-term funding in the first place.

Not necessarily. Commercial lenders have different criteria and appetites, so a proposal that doesn’t meet one lender’s requirements may potentially be considered by another.

It is useful to understand why the application was declined, however, as this can help determine whether approaching another lender is appropriate.

Often, yes. Depending on the finance being requested and the business structure, lenders may carry out searches on the business and/or the individuals behind it.

Previous credit issues don’t necessarily mean finance is unavailable, but they should be disclosed so that suitable lenders can be considered.

Absolutely.

You don’t need a completed application before having an initial conversation.

If you’re considering buying commercial premises, investing in equipment, undertaking a development or making another business investment, speaking to us earlier can help you understand the sort of information you’ll need and what funding routes may be worth exploring.

Commercial finance isn’t one-size-fits-all

Different lenders have different criteria, appetites and ways of assessing commercial finance applications.

A proposal that doesn’t fit one lender’s requirements may potentially fit another, while the most appropriate funding structure will depend on the business, the purpose of the borrowing and your longer-term plans.

At Liberty Verado Commercial, we start by understanding what you’re trying to achieve before exploring the funding options that may be available.

Whether you’re considering commercial property finance, asset finance, development finance, invoice finance, working capital or unregulated bridging finance, you don’t need to know which product you need before getting in touch.

Start with the plan. We can help you explore the funding.

Speak to Our Team

Not Sure Which Funding Option Is Right?

Choosing between a commercial mortgage and bridging finance isn’t simply about interest rates—it’s about selecting the funding that best fits your project, timescales and long-term objectives.

Every transaction is different, which is why an early conversation can often save time, reduce costs and help avoid unnecessary complications later.

If you’re exploring your options, we’d be delighted to discuss your project with no obligation.

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