Bionic Point Part of Bionic

Think use a unique and comprehensive comparison tool called iFunds to help us find a successful match in 85% of occasions. Whilst we understand that our tech is vital, especially when it comes to saving time (our iFunds software searches 18,000 data points in seconds), it’s also important to understand what your business is, or could be eligible for, so that you can structure your plans around the eligible funders and products.

4ED4A980-1367-4548-9284-3CBE142D6E3E Created with sketchtool. What are Commercial Lenders Looking for

Of course, its important to remember there is no ‘set standard’ criteria for business loans, as every lender is different, and what might be not for one, might be perfect for another; which is why shopping around is so vital;

General points that tend to wet the lenders' appetites are:

  • Think BulbTurnover Vs Loan amount (ideally it will be 30% of your turnover)
  • Think BulbTrading history over 18 months – this suggests experience and lowers risk
  • Think BulbNo serious adverse credit – Settled CCJ’s will be entertained if the business is profitable
  • Think BulbBusiness must be based in the UK
  • Think BulbAre the directors homeowners? – this can affect the amount offered

Ideally a lender will wish to see at least some of the above points being met. Our panel of lenders continually adapt and change their lending policies to fit the changing marketplace, and we pride ourselves at working closely with our panel knowing the type of business they want to write. With our assistance they will often take a creative look at a lending application. Work with us and let our experienced team find the right solution for your business.

Or you can try iFunds for yourself, and get a gauge of what your business is eligible for; Try iFunds

4ED4A980-1367-4548-9284-3CBE142D6E3E Created with sketchtool. Supporting Documents

Whilst lenders may differ slightly in their requirements around documentation, typically they will require the following documentation and information:

  • Think BulbTurnover and profit/loss
  • Think BulbBank Statements (usually 6 months)
  • Think BulbLast Filed Accounts
  • Think BulbLoan amount vs Turnover
  • Think BulbYour Trading History
  • Think BulbCredit details of the directors

4ED4A980-1367-4548-9284-3CBE142D6E3E Created with sketchtool. Start your journey

Click the link below to see what's available to your business

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If you would rather talk to someone, you can call us on 0203 880 9880