Frequently Asked Questions

When applying for a business loan, many factors influence how much you can be accepted for, and each lender has its own process for determining eligibility.

You are free to go directly to a lender if you have one in mind. We are here to help you explore the options across our lender network and work out which route could suit your business.

There are many ways to repay a loan or line of credit, and the lender determines the type of repayment. Some lenders will provide you with a repayment schedule with fixed monthly payments, while others may be more flexible and accept early repayments.

Signing up on our website, viewing your funding possibilities and speaking with one of our Business Finance Specialists will not affect your credit score.

If you decide to proceed with a lender, that lender may carry out its own credit search as part of its assessment. We will tell you before that happens.

If you decide to proceed with one of the lenders we partner with, you will normally be required to produce documentation such as current bank statements in order for your application to be evaluated. We will normally ask for your documents ahead of time so that we can examine your request as accurately as possible. If you then decide to proceed, we will forward them to the lender with your permission.

Making an enquiry with us does not affect your credit rating. Each application is assessed individually, and whether a credit check is carried out depends on the lender and the funding solution being considered. If you proceed to a full application, the lender will tell you what its assessment involves.

It depends on the funding solution. Some products are unsecured, meaning they are not secured against a specific business asset. Others are secured, either against an asset or under other terms set by the lender, and many facilities are supported by a director's personal guarantee.

We will explain which applies before you commit to anything, and the lender's own documentation will set out exactly what is being secured.

This depends on how quickly the information is provided and on the lender and funding solution involved. Some facilities can move quickly once a lender has everything it needs. We will give you a realistic timescale once we understand what you are looking for.

Yes. A business bank account is needed so that funds can be paid to you and repayments collected. How repayments are collected varies by product: some are a fixed amount on a set schedule, and others, such as a merchant cash advance, are taken as a percentage of card or business takings.

Your lender will keep you updated on your balance and what you have repaid. How and how often depends on the lender, and many provide an online account or a regular statement. If you are not sure what to expect, ask us and we will find out before you commit.

That depends on the funding solution. General-purpose funding, such as a business loan or a revolving credit facility, can usually be used for most legitimate business purposes: stock, staff, premises, equipment or managing cash flow. Other products are tied to a specific purpose, such as asset finance for a particular asset. Tell us what you need it for and we will look at the routes that allow it.

You can apply online. Click Apply Now to reach our short enquiry form, which asks for a few details about you and your business. Submit it and one of our funding experts will get in touch.

Our criteria start at 4 months of trading, so a very new business may not qualify yet. It is still worth talking to us: tell us where the business is today and we will be honest about your options and what would help get you in a better position.