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What information do I need to provide to apply for finance?
What information do I need to provide to apply for finance?
Emily Miles avatar
Written by Emily Miles
Updated over a week ago

The application process for Invoice Finance is simple and can be completed in a few minutes. When applying for finance you will need complete the following steps on the Satago platform:

  • KYC and AML check: information about the majority shareholders including full name, date of birth and home addresses

  • Bank Verification: a read-only connection to your business bank account to verify the most recent 6 months of bank transactions (find out more about bank verification with Open Banking)

For your initial call your dedicated Business Development Manager will go over a short fact find to ensure you meet criteria and to prepare the application for Invoice Finance to be submitted for underwriting approval.

In order to speed up the process, at the initial call you may want to have the following to hand:

  • Audit trail (Purchase Order, Proof of delivery, Invoice),

  • Full company accounts

  • Latest management account information (including Profit & Loss, Balance Sheet, Sales Ledger and Creditor list)

  • HMRC confirmation (VAT and PAYE)

  • Any contracts and/or Terms and Conditions you may have in place

  • Access to your last 6 months' business bank statements

Please be advised we may require more information depending on your specific situation. The information you provide is stored in accordance with our strict Privacy Policy and encrypted to make sure that it is always safe and secure.

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