If you’re thinking about raising capital, here’s the reality: funders aren’t just assessing your idea. They’re looking for clarity, discipline and your capacity to run the business.
As Murna O’Neill puts it: “The biggest thing we’re assessing is whether you understand your business, your numbers and your specific business risk.”
To help WISEs understand what that looks like, we asked Murna, who runs the Social Enterprise Loan Fund and has assessed dozens of WISEs, to share her top tips.
Here’s the checklist.
1. Get a bookkeeper - seriously, do it first
It doesn’t have to be a full-time hire. It can be a part-time or external bookkeeper who ensures accurate records while you're busy running the business.
This single step unlocks almost everything else on this list.
2. Maintain management accounts (not just annuals)
Monthly or quarterly reporting tells you what’s actually happening.
Annual accounts are too slow for decision-making and too thin for a lender.
3. Invest in accounting software
Xero or similar tools make it far easier to maintain records and support a bookkeeper.
Clean, accessible data builds confidence quickly.
4. Know exactly what you need the money for
Be specific.
- What are you buying?
- What does it cost?
- Get a few quotes and sense check the market
You don’t need signed contracts. You do need clarity.
5. Link the spend to impact
WISEs are usually strong here. But remember to show the logic.
“We need X to deliver Y, which will result in Z outcomes.”
Simple is fine. Just make a connection.
6. Build a simple financial forecast
You don’t need a complex model, you just need a credible one. Looking at what you’ve done historically to date will help work out what should happen going forward.
- What changes with the investment
- What it costs to run
- How the loan gets repaid
Include all the extras, like insurance, maintenance and overheads to ensure its viable.
7. Stress test your model (even if it's just in your head)
This is where many social enterprises fall short.
What has to go right for you to repay?
If you need to sell 20 meals a day to service a loan, say that. Then ask: what if you don’t?
Lenders aren’t looking for perfection. They’re looking for realism. You need to show you have thought it through.
APY Gallery was successful in securing a loan via the SELF
8. Understand your true costs
Know what it actually costs to generate revenue.
- Direct costs
- Overheads
- New costs that come with growth
- Impact-related costs
9. Bring your board along early
Don’t leave governance to the end.
Start conversations early, build it into your planning cycle, and allow time for questions and sign-off. Six months is not excessive.
10. Talk to your bank
Don’t assume finance is out of reach.
Your bank can already see your cashflow. An overdraft or similar facility can be a simpler first step.
Final word
The checklist above isn't just about ticking boxes, it's how you demonstrate capacity.
Ultimately, investment readiness comes back to fundamentals. Good records, a clear plan, and a realistic view of risk go a long way.
“If you don’t have good records, it’s very hard to know what’s going on in your business,” Murna says.
“Having information is what allows you to make good decisions and gives us confidence that you know how to make good decisions.
“It’s really about understanding what’s happened, why you need the money, and what’s going to happen next.”
Launched in 2025, the Social Enterprise Loan Fund (SELF) is Australia’s first loan fund specifically designed for social enterprises supporting employment pathways. It bridges the gap between traditional finance and philanthropy, helping social enterprises grow sustainably while reducing reliance on grants.
If you want to know more about applying for a loan with the SELF, visit the website or watch our latest webinar and hear from social enterprises who have successfully accessed a loan.