Question 1

How long does approval take?

Accepted Answer

Approval times vary depending on the type of funding. For unsecured working capital loans, we typically receive decisions within 2-5 business days. Secured loans backed by property usually take 2-4 weeks due to valuation and legal requirements. Bridging finance can be completed in as little as 7-14 days. We work to expedite every application and keep you informed throughout the process.

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Question 2

What documents do I need?

Accepted Answer

The standard documentation required includes: 6 months of business bank statements, recent business accounts (if available), proof of identity and address for directors, business registration documents (Companies House confirmation), and details of any existing loans or credit facilities. For secured lending, you'll also need property ownership documents. We'll guide you through exactly what's needed for your specific situation.

Question 3

Do you charge fees?

Accepted Answer

We may charge a broker fee for our services, which will be clearly disclosed to you before you proceed with any application. We will always obtain your explicit consent before charging any fees. Additionally, we may receive commission from lenders when we successfully introduce business to them - this commission is paid by the lender and does not affect the cost of your loan. All fees and commission arrangements are disclosed in accordance with FCA regulations.

Question 4

What's the difference between secured and unsecured lending?

Accepted Answer

Secured lending is backed by an asset (typically property) which the lender can claim if you default on repayments. This usually offers lower interest rates, higher borrowing amounts, and longer repayment terms. Unsecured lending doesn't require collateral but typically has higher interest rates, lower borrowing limits, and shorter terms. Unsecured loans often require personal guarantees from directors. The right option depends on your circumstances, borrowing needs, and risk appetite.

Question 5

Can I get funding with bad credit?

Accepted Answer

Yes! We believe your past does not define your future. We work with lenders who consider applications from businesses with various credit histories, including adverse credit. While bad credit may affect interest rates and terms, we have access to specialist lenders who focus on current trading performance and future potential rather than just credit scores. We assess each application individually and work to find suitable solutions.

Question 6

How much can I borrow?

Accepted Answer

Borrowing amounts vary by product type. Working capital loans range from £10,000 to £500,000. Asset finance depends on the value of the equipment or vehicles being financed. Invoice finance can release up to 90% of your outstanding invoice value. Commercial mortgages and bridging finance amounts depend on property values and loan-to-value ratios. The amount you can borrow ultimately depends on your business turnover, profitability, and ability to service repayments.

Question 7

What is DSCR and why does it matter?

Accepted Answer

DSCR (Debt Service Coverage Ratio) measures your business's ability to service debt from its operating income. It's calculated by dividing your net operating income by total debt service (loan repayments). A DSCR above 1.25 is generally considered healthy, meaning you generate 25% more income than needed to cover debt payments. Lenders use DSCR to assess risk - higher ratios indicate better ability to handle loan repayments and may result in better terms.

Question 8

How quickly can I receive funds?

Accepted Answer

Once your application is approved, funding timescales vary by product. Unsecured loans can be funded within 1-3 days of approval. Asset finance typically completes within 5-7 days. Secured loans take 3-6 weeks due to legal and valuation processes. Bridging finance can complete in 7-14 days. Invoice finance can release funds within 24-48 hours of invoice submission once facilities are set up. We work to expedite every case and minimize delays.

Question 9

Do you work with startups or only established businesses?

Accepted Answer

We work with businesses at various stages. While many lenders prefer established trading history (typically 6-12 months minimum), we have access to specialist lenders who consider startups with strong business plans, experienced directors, or personal assets to secure lending. Startups may face higher rates or require larger deposits, but funding is often possible. We assess each case individually and explore all available options.

Question 10

What happens if I want to repay my loan early?

Accepted Answer

Early repayment terms vary by lender and product. Some loans allow early repayment without penalties, while others charge early repayment fees (typically 1-5% of the outstanding balance). These terms will be clearly stated in your loan agreement before you sign. If you're considering early repayment, contact us and we can review your agreement and help you understand any charges that may apply.

Question 11

Are you regulated?

Accepted Answer

Yes, we are fully authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 802252. You can verify our regulatory status on the FCA Register at www.register.fca.org.uk. As an FCA-regulated firm, we must adhere to strict standards of conduct, transparency, and client protection. We are also registered with the Information Commissioner's Office (ICO) under registration number ZA174038 for data protection compliance.

Question 12

What if my application is declined?

Accepted Answer

If an application is declined, we don't give up. We'll discuss the reasons with you and explore alternative options. Often, we can approach different lenders with different criteria, adjust the loan structure, or work on improving certain aspects of your application before resubmitting. We may also suggest steps to strengthen future applications, such as improving credit scores or building trading history. Our goal is to find a solution that works for your business.

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