Access to finance: Prepare to impress

FIRMS need to demonstrate they understand their own businesses if they are to impress financiers, according to experts.

Lenders are more focused on the detail than ever in the wake of the credit crunch putting a new emphasis on all companies, particularly SMEs, to have data available that was previously the preserve of large corporates.

“Banks are now asking for more details and information – some clients see this as extra expense, as they may not have been asked for such detail in the past,” says Jim Sparling, corporate director,
Barclays Corporate.

“But this is all information the company should want for itself anyway. SMEs are getting more used to this and it is becoming normal for them to hold more detailed information about their performance.”

Advice on what financiers are looking for is available in the new Access to Finance supplement from TheBusinessDesk.com in assocation with Barclays Corporate which is now available to download.

One of the key elements to securing finance is convincing lenders of the quality of the company’s management team.

Mr Sparling says: ““It’s fair to say that those corporates in our marketplace today, having survived the worst global economic downturn in living memory, have clearly displayed a resilience and fortitude that should recommend them to lenders, supported by cohesive plans.”

Click here to download the new Access to Finance supplement.