Tips for increasing borrowing capacity for self employed
How to increase your borrowing capacity for self-employed
- Make the current year as profitable as possible as some banks will use just 1 year financials
- If approved by your accountant pay your partner a salary
- Have your tax return completed as soon as possible.
- Reduce or close any unnecessary credit cards or over drafts
- Pay out car leases if close to completion
- Review expenses including technology, utilities and subscriptions
