Top Tips When Applying for a Start Up Loan

We appreciate that you have to invest a bit of time into applying for one of our Start Up Loans so we have put this infographic together, ‘Top Tips When Applying for a Start Up Loan”, to help you through the process.

The first thing you need to do is register with us and someone from Transmit will be in touch by email. You’ll be sent a document that you’ll need to complete so that we can make sure you are eligible for the programme.

Most of the tips in the infographic are about what we want to see in your business plan – can you demonstrate knowledge of the product or service you want to sell, is there demand for your product, and do you know who your competitors are?

Don’t feel overwhelmed by all of this though as you will have a dedicated business adviser to help you put your business plan and financial forecasts together – we don’t expect you to be experts in this, especially if this is your first business.

We will send you a business plan template that you can use. The best approach is to put all your thoughts down in this document and send it over, as a draft, to your business adviser as soon as you can. They will give some feedback, make some suggestions and help you get it completed, before moving on to some financial forecasts.

Our business advisers are all friendly, helpful and experienced business owner/advisers so make the most of the time they spend with you. (This doesn’t need to be done face to face, most of our work is conducted via email, telephone, skype etc).

Top Tips when applying for a Start Up Loan

The next infographic we are doing will be based on general tips for setting up a business for the first time – we’ll post it on this blog as soon as it’s done.