Frequently asked questions

No. Smart Funding Solutions is a whole-of-market commercial finance broker. We search a panel of 300+ lenders, including high street banks, challenger banks and specialist lenders, and arrange the options that suit your business. The lender makes the final decision and sets the rate and terms.

We are an Appointed Representative. That means we are not directly authorised ourselves: we act under the FCA authorisation of our principal firm, White Rose Finance Group Ltd. Our full regulatory details are shown at the foot of every page, and you can check our status on the FCA Register (FRN 972740).

Many business lenders only accept applications through brokers, and each has its own appetite for sectors, credit profiles and loan sizes. We know which lenders are likely to say yes to a business like yours, present your application properly and compare the offers, which saves you time and avoids unnecessary credit searches.

You can, and we work with the high street banks too. Banks often have a limited appetite for small business lending and their processes can be slow and paper-heavy. Through our panel of 300+ lenders we can usually find more options, including lenders who specialise in your sector or situation.

Unsecured and secured business loans, working capital and short-term loans, merchant cash advances, revolving credit facilities, invoice finance, asset finance and refinancing, VAT, corporation tax and HMRC loans, acquisition finance, bridging and property development finance, and sector-specific funding. See all funding options.

Most UK industries, including construction, retail, hospitality, healthcare and professional practices, manufacturing, transport and logistics, agriculture and e-commerce. A small number of sectors are outside most lenders' appetite; tell us about your business and we will be straight with you.

Yes. We help businesses based anywhere in the UK. We can't help businesses based overseas, or foreign companies that trade in the UK without a UK-based business.

If your business is based in the UK and has traded continuously for three months or more, there are lenders who will assess an application on its merits. Most lenders look for average monthly turnover of £5,000 or more. Limited companies, LLPs, partnerships and sole traders can all apply.

Often, yes. Some lenders specialise in businesses with adverse credit, CCJs or missed payments, and will look more closely at current trading and affordability. Rates are usually higher. See bad credit business loans.

Most lenders need at least three months of continuous trading. Brand-new businesses are often better suited to the government-backed Start Up Loans programme, or to asset finance where the equipment itself secures the funding. See start-up business loans.

Yes. Some lenders only lend to homeowning directors, but many others will consider applications from tenants, particularly for unsecured loans, merchant cash advances and invoice finance.

Yes. A bank decline doesn't stop you applying elsewhere. Different lenders assess risk differently, and we can approach specialist and challenger lenders whose criteria may suit your business better.

If the affordability is there for more than one business loan, then yes. Lenders don’t like to see multiple lenders on bank statements, but if the trading history of the business and the bank statements support the amount requested it’s usually not a problem.

Tell us what you need through our online enquiry or by phone. We review your business, search the market and come back with the options that fit. Once you choose, we prepare the application with the lender and support you through to completion.

This will depend on the time it takes you to send over the information needed to apply. Once the lender has all the information to hand to underwrite the proposal, lenders often give a decision within a few working days. If you are happy to proceed, funds are usually released soon after the finance documents are signed.

It depends on the lender and the product, but usually: recent business bank statements (often three to six months), your latest filed accounts or management accounts for larger amounts, company and director details, and details of any existing finance. For asset finance, a quote or invoice for the asset.

All lenders will run a credit check on the directors and the business itself, this will only be done with your permission and agreement to submit an application on your behalf.

Yes. Our online enquiry is free and there is no obligation to proceed with any offer we find.

Enquiring is free. We may charge a fee for our services, and where a client fee, broker fee, appraisal fee or commitment fee applies, it is disclosed separately before you proceed. In addition, the lender we introduce you to will typically pay us a commission. Our recommendation is not affected by whether a lender pays us commission, and you can ask us in writing for details of any commission paid. See how we are paid.

The rate of interest you will be offered is very individual as every business works in a completely different way. The better your personal and business credit score, the longer you’ve been trading, the more profitable you are, the lower the interest rate.

The amount you can borrow will depend on a lot of factors, which include:

• Business credit score
• Trading history
• Affordability
• Personal credit score
• Financial accounts

Most lenders are usually comfortable borrowing a month’s average turnover, if you require more than this, we will simply approach more than one lender. We help businesses raise unsecured funding from £10,000 to around £1 million, and up to £10 million where secured, property, asset-based or acquisition finance fits.

In most circumstances, a lender will require the majority shareholding directors to sign a personal guarantee. This gives the lender confidence in lending out larger amounts to businesses without the need of asset backed security, such as a home.

In reality, you can use the funds for any business rationale. This could be, buying new stock, purchasing equipment, investing in new staff, marketing or general working capital.

You can always pay off your agreement early, some lenders will offer a rebate of interest charges, whilst other lenders will require the total amount repayable. It’s always worth checking your finance documents first to see if it’s beneficial to settle off an agreement early.

If the worst happens and you find yourself in a position where you can no longer afford the repayments you agreed to, the best course of action would be to contact the lender. It’s in the lender’s best interest to find a positive solution whereby both parties can continue to support one another.

Free, confidential help is also available from Business Debtline.