Business Loans

Most online lenders will give you a decision within hours or days, whereas high street banks might take several weeks.

The application itself takes just 2 minutes, and you'll see your matched options instantly. The total time from application to funds in your account depends on the lender and loan type, but could be as quick as the same day.

By getting all your documents and relevant information ready, you can put yourself in the best position to get accepted quickly. 

No. When you check your eligibility through Binq, we use a 'soft search' that doesn't appear on your credit file and won't affect your credit score. Only when you continue with a full application to a specific lender will a hard credit check be carried out.

Typically, you'll need at least one year of:

• financial statements
• bank statements
• your VAT returns
• details of any outstanding invoices or money you owe.

If you're happy to use open banking, we can securely retrieve some documents (such as bank statements) straight from your bank. Otherwise, you can upload them all manually into the app.

Most of our lender partners allow early repayment, though some may charge an early settlement charge. The specific terms will be clearly shown before you accept any offer. Many lenders, including iwoca and Funding Circle, offer flexible repayment with no early repayment charges.

Through our panel of lenders, you can borrow from £5,000 up to £10 million, depending on your business circumstances. The amount you're offered will depend on factors including your trading history, revenue, and what you need the loan for.