We offer a range of products. You can borrow unsecured or secured against a property, equipment or even your debtor book. We do not arrange consumer Buy to Let or consumer first mortgages however.
We offer broker services for unregulated loans to incorporated businesses. These loans may require a personal guarantee, debenture or security. Certain loans – most recently CBILS or the Recovery Loan programme will not require any security for amounts below £250k. Because of the various nuances, please check with us first to identify the specific details applicable to your needs. Certain products such as Business Cash advances are not termed as loans but are forward invoice purchases and therefore can be provided to sole traders or partnerships.
Some of our products only require a minimum of 6 months trading. If you are a start-up it may prove more difficult to obtain an unsecured loan, but we will advise you on what we feel is the best option – with no commitment.
Take a look at our products page. We can arrange funding from £5,000 upwards, and terms based upon the amount financed.
This will vary from product to product (and funder to funder), and we will let you know. Ideally, you should have a copy of your last filed accounts and the last two-quarters of bank statements available as a minimum. We seldom ask for any detailed business plans or forecasts. We do need to validate your identity and ask for a copy of your/the director’s photo ID and may request a recent utility bill.
There are no application fees unilaterally levied by accessfunds, although with structured financing some fees may be applicable and you will be notified of these if the application proceeds to commitment. For a regulated loan, you will be issued with our terms which you will need to agree to before we proceed. Please also read our Q&A on how we make our income for further clarity.
To apply and receive a qualification we may do a soft-search, where no footprint is left on the credit file. At full application, a prospective funder will undertake a search of a credit reference agency file – typically on both the company and the principal directors.
Not necessarily. We operate with a broad panel of lenders who take varying approaches to risk. Please list any past issues on the application as this will help us place you with the most appropriate institution. Some lenders (and products) look more at the current and recent trading experience, rather than the credit file or Balance Sheet of the business. If in doubt, call us first to explore the options.
You will be assigned with an SME advisor who will work with you and the funder. We will build the application pack with you for the lender, and then liaise with them along the way to ensure that you receive clear and concise updates as they review your request.
We work with some lenders who can fund within 3 working days. Obviously secured or structured loans may take significantly longer. The majority of funders sign agreements electronically, and transfer funds via FPS to ensure speed of service.
We are transparent and will in each instance provide details as requested. Typically, we receive a commission from the lender panel member. The payment we get will never make any difference to how much you pay for your product or service, and as an independent broker we rank offers based upon the best facility that we are able to arrange for you. In complex secured or other facilities where we do not earn any commission, we will advise you at the outset what direct fees may apply.