Small Business Finance

If you are one of the millions of businesses which need funding as a result of the current economic downturn, a decline in sales, or capitalising on the current economic climate, The Local Bookkeeper can assist you in preparing and gaining the funds you need to survive.

There are different routes to raising funds, these include:-

• High Street/Retails Banks - The Local Bookkeeper has relationships with many of the leading high street banks and is able to work with you to gain funding from traditional loans, or through the new government-backed loans.
  
  The Local Bookkeeper has relationships with the following banks:-

Natwest/RBS Lloyds TSB

Barclays HSBC

Now that the banks are being more cautious to whom they grant credit, it is vital to have a strong application, with the right information, with the correct supporting financial documents, to have a realistic prospect of obtaining a loan.

The Local Bookkeeper supports businesses that require funding, and this is done through the following tasks:-

• Assessing the eligibility for the loans – It is never easy or clear exactly what is available and who it is available to. You can call and speak with us to discuss your situation and we can tell you what schemes you are eligible for and the steps involved. Very often this depends on the sector you operate within and the purpose of the loan.
  
  
• Liaise with the bank – Many business owners and entrepreneurs have to focus on running their business and dealing with banks can be a tedious experience! We can take the hassle away by liaising with the bank, to ensure all the required documentation is made available, in order to obtain funding.
  
  
• Preparation of management accounts for the loan application – Many banks are now, more than ever, requesting up to date financial information about a business.
  
  
• Preparation of a business plan – Having a well prepared business plan, which demonstrates the applicant has examined the risks and rewards, together with full financial projections, will stand them in good stead.
  
  
• Fulfilment of conditions of the loan – Nearly all commercial banks require the production of management accounts - either monthly or quarterly - to show the performance of the business on an ongoing basis.

• Private Investors/Business Angels – The Local Bookkeeper has experience working with start ups and entrepreneurs who require funding, and can offer assistance in preparing to seek funding and then complying with requirements from investors, such as regular management information.
  
  
  • Connecting you with investors – we have our own contacts and a strategic partner with access to 100’s of potential investors.
    
    
  • Liaise with you and your potential investor – We will support you through the commercial and financial due diligence process, to ensure that all the necessary information is provided to your potential investors, to ensure a smooth and hassle-less investment process for both parties.
    
    
  • Preparation of management accounts for application of investment – Many investors will require up to date information about the business so they are aware of the current financial situation.
    
    
  • Preparation of a business plan – Having a well-prepared business plan, which demonstrates the applicant has examined the risks and rewards, together with full financial projections, will stand you in good stead.
    
    
  • Fulfilment of conditions of the investments – Nearly all investors will require the production of management accounts on a monthly or quarterly basis to show performance of the business in comparison to the business plan.