Once your application has been submitted one of our Relationship Team members will check to ensure that they have all the information that they need from you.
We will try to give you a decision as quickly as possible but there are certain factors which can affect our ability to do this.
Reviewing your application:
During this process we will:
- Ensure we have all the information we need. In some instances we may need to request further documentation from you, so it's worth while providing as much information up front in order for us to process your application efficiently.
- Complete background checks on you and your business as appropriate, such as Companies House searches.
- Assess the suitability and affordability of the finance option you have chosen, including explaining the cost of borrowing.
- Explain the other types of finance which may be suitable, so that you can consider which is most appropriate for your business.
- Ask for your permission to carry out a credit check on you and your business.
- Potentially ask for additional information.
If necessary, a member of the Relationship Team will call you to discuss your application.
Making a decision:
Following the application submission the Relationship Team will complete a Credit Proposal.
Depending on the amount you wish to borrow, your business sector and your credit history, we may need to refer your application to our Credit Sanctioning Team. If this happens our decision may take a little longer, but we'll keep you informed.
We will assess every reasonable request for finance (whether short-term or long-term) from viable business customers.