The application for finance provides us with an overview of the individuals involved, the proposed business venture and the financial structures, together with some background for our records. The application should be submitted with a comprehensive business plan or the information could be incorporated into the business plan and presented to us as one document.
Personal balance sheet
A personal balance sheet needs to be completed by all partners, directors or members of the proposed trading entity and represents a sworn declaration as to their financial standing at the date of completion. It is important that all assets and liabilities are reflected on the balance sheet.
Specimen pro forma balance sheet
This is the specimen of the anticipated (pro forma) balance sheet of the trading entity before the operation commences. It reflects the allocation of owner's' funds and the trading entity's borrowings towards the purchase of assets. It essentially provides a snapshot of the business at a future date.
Income and expenditure statement
This outlines the business' normal monthly expenses in relation to its anticipated monthly income and must incorporate all known expenses.
Cash flow projection
This is the most important document in the business plan, as it will provide a projected view of the flow of funds into the operation. It is imperative that any information reflected in this document is or can be substantiated through the business plan or in discussion with the franchisor or operator.
Other supporting documents
Banking products for franchises
Business Current account
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A Business Current account is a competitively priced mechanism for normal trade transactions. Current accounts may be linked to a range of electronic services designed to enhance normal banking activity.
Business Revolving Credit Plan
A flexible term- finance structure for financing of both capital assets and initial working capital requirements. The repayment term is negotiable and may range from 24 to 60 months. Capital repayments are normally fixed for the duration of the loan with interest debited separately on a monthly basis to the Business Current account.
Standard Bank Vehicle and Asset Finance
Specially structured asset-based financing for a wide range of assets.
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Electronic banking services
Are wide ranges of specially designed electronic banking products to meet your business requirements. Electronic banking services are a cost-effective supplement to your traditional banking activities - CATS and Internet Banking.
Standard Bank Financial Consultancy (SBFC) consultants can be found at your nearest branch and will assist you in your personal financial planning as well as your business planning.
Standard Bank Insurance Brokers (SBIB) will assist with insurance cover for the assets of your business at competitive rates.
Credit card merchant services
Standard Bank Card Division will try to meet all your needs in respect of electronic credit card terminals and provide backup and ongoing support.