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Top Tips When Applying for a Start Up Loan

TOP TIPS WHEN APPLYING FOR A START UP LOAN WITH transmit start-ups REGISTER Before doing any work on your business plan, register with us so that we can check your eligibility. We don't want to waste any of your time! BE CLEAR It helps if you can articulate your business idea clearly, so we can easily get an understanding of what you are trying to achieve. FIRST DRAFT Don't worry about producing a perfect business plan, as there is no such thing. You will get a dedicated business adviser who can help you with this anyway. ARE YOU SERIOUS? We invest in people as much as we do business ideas, so we need to feel confident that you are serious about your business and that you are going to give it a good go! PRODUCT KNOWLEDGE It's really important that you can demonstrate knowledge of your product/service and market - if you want to open a bicycle shop we need to see that you have great knowledge and passion for bikes! DEMAND In addition to the above, it's important to show us there will be customer demand for your product or service. SUSTAINABLE We want to see a sustainable business after 1 year - your business needs to be making enough money for it to keep you in full time paid work. COMPETITION Never say "I don't have any competitors" as every business does. Let us know who your competitors are and why customers will buy from you instead of them. GET READY Be prepared to work hard, and quickly, to get your application done. It's not just about filling in application forms, its about us helping you have everything mapped out ready for you to start trading. ADVICE Make the most of the time with your business adviser and mentor (once you've received your loan) you can probably learn quite a lot from them, and we are here to help. transmit start-ups

Top Tips When Applying for a Start Up Loan

shared by venturestream on Aug 13
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 ...


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