Applying for a Loan: 6-point checklist

Applying for a Loan: 6-point checklist

When you are looking for finance to start or expand your social enterprise, above all you need to convince potential lenders that you are a sound investment. You need to show them how your dreams will develop into long-term viability by presenting a believable business plan.

At London Rebuilding Society we primarily look for the following when assessing an application for a loan:

• A clear statement of exactly what the business proposes to do (it’s surprising how many business plans omit this! And if you can’t explain clearly what you intend to do, how will you be able to do it?);

• Why this is socially, environmentally or ethically of benefit;


• An understanding of the market: trends, potential customers and what motivates them, the needs which are fulfilled by your product or service, actual and potential competitors;

• How your enterprise will be managed and organised, including details of key employees, board or management committee;


• An realistic understanding of the other resources which will be needed to run the business - premises, equipment, etc. ;

• Financial projections showing that the business will generate enough surpluses to repay the loan.