Fit-Out Finance: Which Bank Statements & Management Accounts Lenders Will Ask For

Summary: After a UK Business Loans enquiry for fit-out finance, most lenders will ask for 3–12 months of business bank statements plus up-to-date management accounts (typically 12 months monthly managements or the latest year‑end accounts plus recent month‑to‑date figures). They’ll also expect job costing, WIP and retention schedules, signed contracts and a short cashflow forecast for staged fit‑out projects. Providing clear, reconciled statements and concise management packs speeds underwriting and improves the quality of quotes. Get Quote Now — Free Eligibility Check

Quick answer — what lenders usually ask for

• Business bank statements: usually the most recent 3, 6 or 12 months (may include month‑to‑date).
• Management accounts: ideally monthly management accounts (P&L and balance sheet) covering the last 12 months, or year‑end accounts plus the latest managements.
• Fit‑out project evidence: signed client contracts, stage payment schedules, job costings, WIP and retention schedules, and invoices or certificates for completed stages.
• Cashflow forecast: 3–6 month forecast showing staged receipts and outlays for the project.

Get Quote Now — Free Eligibility Check (no obligation; we match you to lenders and brokers who specialise in fit‑out projects; minimum loan sizes generally start at around £10,000).

Why lenders ask for bank statements & management accounts

Lenders and brokers request bank statements and management accounts to assess three core areas: cashflow sufficiency, ongoing trading performance and project viability.

• Cashflow assessment: Fit‑out projects have staged payments, upfront materials costs and labour peaks. Bank statements show the timing of receipts and whether the business can absorb early outlays.
• Turnover & profitability: Management accounts reveal margins (especially important for contractors and fit‑out specialists) and recurring overheads which determine repayment capacity.
• Risk & credibility: Lenders use accounts to verify invoices, confirm contract payments and check for prior defaults, overdrafts or irregular deposits that might indicate risk.

Supplying clear statements and well‑prepared management accounts reduces delays and improves the competitive offers you receive.

Typical bank statements lenders request — checklist for fit‑out businesses

Period & format lenders want

Common requirements:

• 3 months — for quick, small‑value facilities (e.g. merchant or short‑term cashflow loans).
• 6–12 months — typical for invoice finance, asset finance and term loans.
• 12 months + current month‑to‑date — for larger commercial loans or development finance.

Preferred format: downloadable PDF bank statements or secure bank portal extracts (not cropped screenshots). CSV exports are acceptable where reconciled and clearly labelled.

What to include: transactions lenders pay attention to

• Regular client receipts — frequency and largest customers.
• Large one‑off deposits — explain source (e.g. sale of asset, client payment).
• Payments to subcontractors and suppliers — evidence of fit‑out expenditure.
• Payroll and director drawings — consistency and sustainability of wage costs.
• Loan, overdraft and card repayments — existing commitments reduce borrowing capacity.
• Retention receipts or deductions — show expected timing for retentions to be released.

Red flags in bank statements (and how to explain them)

Common issues underwriters notice:

• Frequent overdraft use or returned items — provide an explanation and evidence of improved banking lines.
• Large unexplained cash deposits — add a covering note or supporting invoices.
• Irregular director drawings or personal transfers — clarify and, if appropriate, supply personal bank statements.

Pro tip: annotate statements with short notes (or a one‑page cover letter) so underwriters don’t need to guess the source of unusual items.

Management accounts — what lenders expect for fit‑out businesses

Period covered and level of detail

Best practice is monthly management accounts for the last 12 months. If you don’t have them, provide the latest year‑end accounts plus up‑to‑date month‑to‑date managements. Accounts prepared or reviewed by an accountant speed the process.

Key reports lenders look at (P&L, Balance Sheet, Cashflow)

• Profit & Loss: turnover by month, gross margins and major cost headings (labour, materials, plant hire).
• Balance Sheet: assets, trade creditors, director loans and existing facilities.
• Cashflow statement/forecast: 3–6 month forecast showing staged contract receipts and payments — critical for staged fit‑out jobs.
• Job/project P&L: margins and cashflow per contract help prove the viability of the specific fit‑out being funded.

Supporting items lenders expect (job costing, WIP, retentions)

Typical supporting schedules that make an application stronger:

• Work in Progress (WIP) schedule showing costs to date, forecast costs to complete and margin.
• Retention schedule showing amounts withheld by clients and expected release dates.
• Aged debtor and creditor reports — especially important for invoice finance or factoring applications.
• Copies of signed client contracts, purchase orders and stage payment certificates or valuations.

Document requirements by finance type (fit‑out scenarios)

Short‑term cashflow / bridging

Usually the minimum: 3–6 months bank statements, recent management accounts and proof of the contract or invoice to be funded. A short cashflow forecast showing how the facility will bridge the timing gap is essential.

Asset & equipment finance

Supply turnover evidence, balance sheet details and quotes or invoices for the furniture, kitchen, fixtures or equipment to be financed. Lenders will value the asset being funded and consider business cashflow to cover repayments.

Invoice finance / factoring for fit‑out contractors

Provide invoices, an aged debtor report, customer payment history and 6–12 months of business bank statements so underwriters can verify payment patterns and concentration of buyers.

Commercial loans & development finance for larger refurbishments

Expect a comprehensive pack: 12–24 months accounts, up‑to‑date monthly management accounts, a detailed business plan or project cost plan, contractor contracts, cashflow forecasts and valuer reports for property security where required.

Preparing and presenting your documents — practical tips & checklist

How to prepare bank statements

• Download full PDF statements from the bank — ensure dates and page numbers are visible.
• Combine multiple business accounts into one folder and label them clearly (e.g. “Main business account — Jan–Dec 2024”).
• Annotate or include a one‑page cover note explaining large deposits, transfers and exceptional items.

How to tidy and explain management accounts

• Include a short management commentary that explains month‑on‑month variances and one‑off items.
• Reconcile management accounts to the bank where possible, and supply accountant‑prepared figures if available.
• Attach a concise cashflow forecast (3–6 months) showing receipts and payments for the fit‑out.

Readable checklist (prepare these before you submit an enquiry)

• Last 6–12 months business bank statements (PDF)
• Latest 12 months monthly management accounts (P&L & balance sheet) or year‑end accounts + current month
• Job costing / WIP schedule and retention schedule
• Signed client contracts, stage payment schedule and invoices
• 3–6 month cashflow forecast for the project
• Director ID and business incorporation documents (if requested)

Faster offers: submit documents in a single zipped folder or provide a secure link to your accountant’s portal.

Common lender questions after you submit an enquiry — what happens next

After you submit an enquiry via UK Business Loans we match you to lenders and brokers who specialise in fit‑out and commercial finance. Typical steps:

1. Initial review: a broker or lender will contact you (often within a few hours) to clarify the requirement and ask for documents.
2. Underwriter review: lenders review bank statements, management accounts and project documents — this can take 24–72 hours depending on complexity.
3. Indicative offers: you’ll receive indicative terms; if acceptable you can proceed to formal application which may include credit checks.

Get Started — Free Eligibility Check and have your documents ready to speed the process.

FAQs

Next steps & call to action

If you’re preparing for a shop, restaurant or office fit‑out and want to speed up lender responses, gather the items in the checklist above and Get Quote Now — Free Eligibility Check. We’ll match your business to lenders and brokers experienced in fit‑out finance and commercial refurbishments. Submitting an enquiry is free and does not affect your credit score.

Important: UK Business Loans is an introducer that helps connect you with lenders and brokers. We do not lend or provide regulated financial advice; we help you find providers who can assist with funding for projects valued from about £10,000 and above.

About UK Business Loans

UK Business Loans connects UK companies with trusted lenders and brokers specialising in commercial and fit‑out finance. Our team understands construction and refurbishment cashflow dynamics and helps you present the right documents to underwriters, saving you time and improving your chance of rapid, competitive quotes.

For a sector‑specific overview of finance options for shops, restaurants and offices, see our page on fit-out finance.

1. What documents do lenders typically request for fit-out finance?
Typically lenders ask for 3–12 months of business bank statements, up‑to‑date management accounts (ideally 12 months monthly or year‑end plus current month), signed client contracts, job costing/WIP and retention schedules, invoices/valuations and a short 3–6 month cashflow forecast.

2. How many months of bank statements do I need to apply for a business loan?
Lenders usually want 3–6 months for short‑term facilities and 6–12 months (often plus month‑to‑date) for invoice finance, asset finance and commercial loans.

3. Do I need management accounts to get fit‑out finance?
Yes — monthly management accounts (P&L and balance sheet) for the last 12 months are ideal, or provide year‑end accounts plus the latest month‑to‑date figures, with accountant‑prepared packs preferred.

4. Will submitting an enquiry through UK Business Loans affect my credit score?
No — completing an enquiry is not a formal application and does not affect your credit score; lenders may run credit checks only if you proceed to application.

5. How quickly can I expect an indicative offer or quote after I submit documents?
Many brokers and lenders can provide an indicative offer within 24–72 hours of receiving complete documents, though larger or more complex deals can take longer.

6. Do lenders ever ask for directors’ personal bank statements?
Sometimes — personal statements are commonly requested for small businesses, limited trading history or when a director guarantee is required, and you’ll be notified at initial review.

7. What are common red flags on bank statements that slow applications?
Frequent overdraft use, returned items, large unexplained cash deposits and erratic director drawings are typical red flags that underwriters will expect you to explain with supporting evidence.

8. Can I get fit‑out finance if I have poor credit or I’m a start‑up?
Yes — some specialist lenders and brokers we work with consider imperfect credit records and start‑ups, but eligibility and terms vary by lender and finance type.

9. What loan sizes can I apply for when funding a shop, restaurant or office fit‑out?
Fit‑out finance typically starts at around £10,000 and can scale up to much larger commercial loans depending on lender appetite and security offered.

10. How can I speed up the underwriting process and improve the quotes I receive?
Prepare clear, reconciled PDF bank statements, concise monthly management accounts or recent year‑end accounts plus current month, job/WIP and retention schedules, signed contracts and a 3–6 month cashflow forecast and submit them together via a zipped folder or secure link.