Straight answers,
one question at a time
No hedging and no sales copy. Each answer starts with the answer, then explains it. Where the honest answer is "it depends", we say what it depends on.
Before you apply
What a lender reads, what it costs your credit file to ask, and how long it all takes.
- Will applying for a business loan affect my credit score?
- What documents do I need for a business loan?
- Why do lenders want my bank statements?
- Do I need a business plan to get a business loan?
- How fast can I get a business loan?
How much, and for how long
Sizing the facility, choosing the term, and getting out of it early.
- How much can my business borrow?
- What loan term should I choose?
- Can I repay a business loan early?
- Can I have more than one business loan at once?
Structure and security
Who can borrow, and what a lender may ask you to sign.
Using a broker
Where the money comes from when a service is free to you, and what to ask before you trust one.
How these answers are written
Each one is written from the published criteria of the lenders on our panel rather than from the market in general, so where a figure appears, it is one we work to. Where lenders disagree, the answer says so instead of picking the most flattering version.
They are short on purpose. Each page answers the question in its opening paragraph, so you can stop there if that is all you need. The detail underneath is for when the short answer raises a second question.
None of them is advice about your business. They explain how the market tends to behave. What it means for you depends on your own numbers, which is what an enquiry is for.
Already been turned down?
Start with what to do after a decline, which covers the four reasons behind most of them. For the bigger subjects, eligibility, what a loan costs and cash flow finance each have a full guide.
Missing a question you need answered? Call us on 0333 772 4865 and we will answer it, and if it is a question other people have we will add it here.
Common questions
Do these answers apply in Scotland and Northern Ireland?
Mostly. Lenders on our panel fund UK businesses, and they assess an application the same way wherever it comes from. Some legal details differ: court debts, for example, are recorded under different systems in Scotland and Northern Ireland. Where that matters, tell us where the business is registered.
Can you answer questions about personal borrowing?
No. We only arrange finance for businesses. For free, impartial help with personal debt or borrowing, MoneyHelper, the government-backed service, is the right place to start. If the personal borrowing is meant to fund a business, we can talk through the business options alongside it.
Is every lender the same as these answers describe?
No, and they are not meant to be. They describe how the lenders on our panel tend to work, and there is always an exception. That is why we check your details against each lender rather than against a general rule.
How do you decide which questions get a page?
A question gets a page when we hear it often and can answer it from what we actually know about the panel. If the only honest answer would be a guess, it does not get one, and we will tell you that on the phone instead.
