Determine what new equipment your business needs, why it's needed, and how it will contribute to your business growth.

Update your business plan to reflect the impact of the new equipment on your operations and financial projections.

Obtain a copy of your business credit report and address any issues that could affect your application.

Review your current financial status, including income, expenses, cash flow, and profitability.

Have detailed specifications of the equipment you plan to finance. Include the manufacturer, model, price, and any other relevant information.

Decide on the type of finance that best suits your needs - hire purchase, leasing, or loans.

Identify what collateral you can offer if necessary, whether it's the new equipment or other business assets.

Prepare a detailed proposal outlining your request for finance, how the equipment will benefit your business, and your repayment plan.

Investigate potential lenders. If you're working with Red Fox Finance, we can help match you with the most appropriate lender from our panel.

Gather your most recent financial statements. These will typically include your balance sheet, income statement, and cash flow statement.

Prepare your recent business tax returns, usually for the past two to three years.

Compile recent bank statements to demonstrate your business's financial health and cash flow.

Gather any relevant legal documents, such as your business license, articles of incorporation, and any contracts or leases.

Complete the lender's application form accurately and thoroughly.