Applying for business finance can be daunting, and mistakes often cost companies both time and money. According to Ben Blacker of Blacker Consulting, the most common pitfalls include:
- Poor preparation – Submitting incomplete or inconsistent information.
- Unrealistic borrowing requests – Asking for more than lenders are likely to approve.
- Not understanding lender criteria – Failing to anticipate what financiers really look at.
- Weak cash flow planning – Overlooking repayment ability during seasonal fluctuations.
- Lack of professional support – Trying to handle applications without an expert’s guidance.
“Too many good businesses miss opportunities because they present the wrong picture to their lender,” Ben explains.
At Blacker Consulting, Ben works closely with clients to strengthen applications before they reach the financier. This includes reviewing financials, aligning with accountants and brokers, and ensuring the story behind the numbers is clear.
The result? Faster approvals, better terms, and stronger confidence from lenders.
