Getting approved

How to get accepted for business finance


Bank Funds Instant Working Capital™

Helping you get approved

We’re committed to transparency and giving you a clearer understanding of the inner workings of the lending world because when you apply, you deserve to know exactly what goes into our decision.

So you’ve decided to apply for business finance, with Bank Funds enabling you to apply for 3 financial products in 1 simple application. However, prior to jumping in and filling out an application, you need to ensure you’ve got the best possible chance of being approved for funding. With this in mind you’ll want to start thinking about the questions that you might be asked, before applying for business finance, and prepare answers to them all. Here are a few hints to help you get a ‘yes’ – getting you the finance you need.

Instantly check if your business qualifies

With no impact on your personal or business credit rating when checking your eligibility.

0 & over

Looking at more.  With your credit score not being the deciding factor, finance can be arranged with scores as low as 0.

Your credit score

Your credit score summarises your credit history. The 3 major credit referencing agencies are Equifax, Experian and Call Credit – different lenders may use one or multiple credit referencing agencies when assessing eligibility.

Some providers, for example while assessing a business for a merchant cash advance may not have a lower limit of acceptable credit score and may assess based on consistent card takings for example.


Unlike traditional lenders, Bank Funds aims to make the application process fast and simple. With our business loan providers giving you added flexibility without the stringent restrictions you get with traditional bank loans. While banks might perform a near-forensic analysis of bank statements, filed accounts, trading history and more, via Bank Funds the majority of checks to get funding can be performed or processed online.

Documents typically needed:

  • Identity documents (Passport/Drivers License for example)
  • Business bank statements from the past three months
  • Card processing statement from last 3 months (for MCA’s)
  • Invoice(s) to be financed (if invoice finance)


Business/Personal info.  Ensure you can provide statements, ID and other important documents to support your application.

Assessing affordability

Can you repay the loan?.  That is the ultimate question that all responsible lenders will ask themselves. If your revenue/card takings suggest so, alternative finance could help.

Affordability and business performance

As an arranger of alternative business finance solutions such as the merchant cash advance, invoice finance and alternative business loan we’re able to source finance for the ‘under-served’ majority of small and medium businesses. While our finance solutions offer options for businesses that have perhaps been turned away by more traditional lenders, affordability and business performance will still play a role in getting approved.

Responsible lenders will want to make sure you can afford to repay any funding given. They’ll look at revenue from the likes of invoices, cash and or card takings, profit and loss, and how long you’ve been in business. This info will tell them how stable and likely your business will be able to repay the finance.

Time in business

The length of time your business has been trading can often play a big part in whether you get approved for finance or not. Unlike with the banks, Bank Funds work with providers that can provide finance to newer businesses that have perhaps not been trading for a significant period – with finance available for businesses trading over 4 months, typically. Although this will vary on the nature of your business and ultimately the product you qualify for.

4 months+

Options for newer businesses.  If you’ve been trading for under a year finance can still be within reach.

Other potential factors

We’ve looked at many of the main factors, however alongside those may be some factors that only certain providers may look at. We’ll factor much of these in when you apply for finance via Bank Funds.

Your Experience

Recency of CCJ’s


Customer reviews

Connected businesses


Ready for funding?

Bank Funds is a service tailor made for you, we focus 100% on the needs of UK small businesses. We’re here to work with you as your funding specialist to help you drive your business forward. Get approved for £3,500 to £500,000 within 90 seconds