Resubmission - Davinder Singh Dhunna 1602197 Task 2 Frank...

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Davinder Singh Dhunna 1602197 Task 2 Frank and Claire can take financial help from various financial backers such as- From Banks and financial institutions in form of loan or overdrafts. Funds from family or friends. Investment from owners or partners (as Frank and Claire is partnership business). Leasing and hiring purchase financiers Task 4 First thing which is required to get loan from bank is well documented Business Plan which must include information types of business, it objectives, strategies for business and products and services provided by business. Financial Plan must also be prepared which must include Balance sheet, cash flow statement, sales forecast and profit and loss statement. Another document which is needed is statement of net worth which must covers personal financial position and summary of assets for the business and liabilities for the business. As bank needs some type of security to lend loan, hence there must be some security such as residential property or vehicle. Registration of business is must to apply for the loan in the business.
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