Most business loan applications receive an approval decision within 24 to 48 hours, making it one of the fastest ways to access funding for urgent business needs. Once approved, the funds are typically transferred directly into your business current account within 1–2 working days, meaning you can get started on your plans without unnecessary delays.

Unlike traditional high street banks that may take weeks to review documents and reach a decision, we streamline the process through a quick online application, soft credit checks for rate viewing, and rapid underwriting. Whether you’re seeking a small business loan, funding for equipment purchases, or working capital, our approval timelines are designed to support UK business owners who need fast, flexible finance without red tape.

Having a poor credit history doesn’t automatically disqualify you from securing a business loan. We perform a personalised credit assessment that looks beyond your credit score to consider your current cash flow, revenue trends, and overall business health. In many cases, we’ve helped businesses with adverse credit, CCJs, or historical defaults obtain funding by focusing on their real-time trading performance and future potential.

While interest rates may be slightly higher to reflect increased risk, we work with a network of lenders who specialise in bad credit business loans, meaning you’re more likely to find a suitable offer than through traditional banks. We can also guide you toward unsecured loan options that do not require personal guarantees, offering greater flexibility for businesses rebuilding their financial position.

Yes, most of our business loan products allow early repayment without penalties, giving you the flexibility to reduce interest costs and settle your loan when it suits your business. If you’re on a variable rate loan, you can usually make lump-sum or full repayments with no extra charges. This can be a great way to save on interest and shorten your loan term.

For fixed rate loans, there may be a small early repayment fee, but this will be clearly outlined in your loan agreement before signing. Additionally, some agreements offer the option of a repayment holiday, allowing you to temporarily pause repayments if your cash flow becomes tight. However, it’s important to note that interest will continue to accrue during any payment break, increasing the total amount repayable over time.

Early repayment flexibility is one of the reasons our loans are so popular with growing businesses that want to retain control over their finances and avoid long-term debt commitments.

To apply for a business loan, you’ll typically need a few basic documents to verify your trading activity and support your application. These include:

• 3–6 months of business bank statements to demonstrate revenue and cash flow

• Your business registration details (e.g., Companies House number or sole trader information)

• Valid proof of ID (e.g., passport or driving licence) for the business owner(s)

• Basic information about your business, such as turnover, trading history, and loan purpose

• A brief business plan or funding proposal (optional for small loans, but helpful for higher amounts)
  

These documents help us or the lender perform a fair credit and affordability assessment. If you’re applying for a startup business loan, you may also need a projected cash flow forecast or a more detailed business plan, particularly for government-backed options such as the Start Up Loan Scheme.

In most cases, business loans offer significantly lower interest rates than business overdrafts, especially for larger loan amounts and longer repayment terms. While overdrafts provide short-term flexibility, they often come with higher APRs (annual percentage rates) and additional fees for usage, renewal, and exceeding limits.

A business loan provides predictable monthly repayments, usually at a fixed interest rate, making it easier to budget and manage cash flow. This stability makes business loans a better option for:

• Funding equipment purchases

• Hiring staff

• Launching marketing campaigns

• Expanding into new locations
  

By using our business loan calculator, you can compare the true cost of borrowing through a loan versus relying on overdraft facilities. If you’re currently using an overdraft to manage working capital, consolidating this into a structured loan could save money and improve your overall financial health.