Credit checks will be performed on the company and the stakeholders such as directors, major shareholders and guarantors. The lenders we work with usually do a credit check as the last part of your loan application assessment.
Credit checks can not be performed until you have completed a privacy declaration.
The length of time the process takes is very much up to you. If you are able to provide the simple documents requested in the submission and nothing further is required then approval may be granted within 24 hours after pressing send.
If further information is required we will contact you promptly so we can start the approval process as soon as possible.
Once the facility is approved you will be provided with a quote and if you are satisfied with this documents will usually be completed ion the next 24 hours.
Execution of the documents and settlement can take place the following day.
With this in mind funds can usually be paid to your account in between 2 and 4 days after you have completed the application.
The first part of the application relates to the company and can be completed by any authorised person.
The next part of the application is the personal statement of position to be provided for any shareholder of the business owning more than 25% of the business. The statement of position is a summary of the personal assets and liabilities of each stakeholder.
The privacy declaration is necessary for authorisation for us to pass on your details to the agreed lender and so that the lender can do a credit search.
The general terms relate to our fees; in some cases there is no fee to you for using our service.