From first enquiry to drawdown, and what lenders will ask along the way.
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The process
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We review your business, ask any questions and identify the lenders whose criteria you are likely to meet.
If lenders make offers, we set out the rate, fees, security, personal guarantees and conditions for each. You are under no obligation to accept.
We work through the application, valuations, legal work and drawdown with the lender.
See our full document checklist in the guides.
Before approaching any lender, we look at the things that most often lead to a decline:
If one of these applies, tell us early, because it changes which lenders are realistic.
Our eligibility check does not involve a credit search. Once you decide to apply, the lender will usually search the company’s credit file and often the directors’ or partners’ personal files. We will tell you before your application goes to a lender.
Merchant cash advances and some unsecured loans can complete within a few working days of approval.
Asset and invoice finance typically take one to three weeks.
Larger secured loans and acquisition finance often take several weeks because of valuations, due diligence and legal work.
Having your documents ready is the biggest thing you can do to speed things up.
In-depth guide
Choose a topic to read more.
A business finance broker works by understanding what your company needs, matching it with lenders whose criteria it is likely to meet, and managing the application until the lender pays out. At Welcome Finance one relationship manager handles every stage, and the lender makes the lending decision.
In short, that is how a business finance broker works. We are a commercial finance broker, not a lender, and we arrange unregulated business finance only, for UK limited companies, LLPs and partnerships of four or more partners.
Your relationship manager asks what the money is for, how much you need, when you need it and how the company would repay it. Those answers decide which types of finance and which lenders are realistic.
The purpose matters most. Buying equipment or vehicles usually points to asset finance, money tied up in unpaid customer invoices may suit invoice finance, and a large HMRC bill may suit tax bill loans. A general loan is not always the right answer.
It helps to have rough figures ready: annual turnover, existing borrowing and the repayments the company already makes. Exact documents can follow later.
We compare your company's details with the criteria of the lenders on our panel and put forward the lenders we believe are suitable. Our panel is small and growing, so we do not cover the whole market.
Each lender sets its own minimum trading period, from a few months to two or three years, its own turnover requirements and its own pricing. If no lender on our panel looks suitable, we will tell you rather than send an application that is unlikely to succeed.
Nothing goes to a lender until you decide to apply and agree to us sharing your details. Our eligibility check does not affect your credit score, but once you apply, the lender runs its own credit checks.
We are paid a commission by the lender when your finance completes, and you can ask us how much. We only share your details with lenders for the purpose of arranging finance, as set out in our privacy policy.
If a lender makes an offer, we help you look at the total cost and the conditions, not just the headline rate or the monthly payment. Points we go through with you include:
Illustrative example only: actual costs depend on the lender and your circumstances. Offer A is £50,000 over 36 months at £1,600 a month with a £1,000 arrangement fee, so the total repayable is £57,600 plus £1,000, or £58,600. Offer B has a lower monthly payment of £1,550 but a £3,000 fee, so the total is £55,800 plus £3,000, or £58,800. Offer B looks cheaper each month but costs £200 more overall.
Your relationship manager stays with the deal until the lender pays out the funds. That usually means collecting any extra documents the lender asks for, answering its questions and keeping the paperwork moving.
You can contact your relationship manager by phone, email, chat or WhatsApp for updates or the status of your application. We aim to reply within 4 business working hours, meaning Monday to Friday, excluding bank holidays.
A decline from one lender does not always mean every lender will decline, but each new application may involve another credit search. We talk through the options with you before anything else is submitted.
Lenders do not always explain their reasons. Where a reason is given, it can show what to fix first, such as overdue filings at Companies House or arrears with HMRC.
You do not pay us a fee. The lender pays us a commission when the finance completes. Commission may be built into the cost of the finance the lender offers, which is why comparing total cost matters. See how we are paid.
No. You can stop at any point before you sign a finance agreement, including after receiving an offer.
No. We arrange unregulated business finance, and Consumer Credit Act protections generally do not apply to lending to limited companies, LLPs or partnerships of four or more partners. Our guide to regulated vs unregulated business finance explains more.
No. Your dedicated relationship manager looks after your application from your first enquiry until the lender pays out the funds.
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