Applying for a business finance loan is easy. Fill out a form, and your finance broker will handle the legwork of getting your business funded.

But, it’s also important to understand the details of the funding process and how your application is handled. Information like this can give you a better expectation of your application outcome and strengthen your eligibility for a business loan.

Finance brokers like Crispcap have a panel of specialist lenders that get businesses funded quickly and efficiently. We’re a more flexible alternative to traditional business bank loans.

Our business model has been streamlined into four easy steps to help SMEs (small to medium-sized businesses) get a business loan without hassle. Here is our process:

Application

Your journey to a business finance loan starts with a 30-second application. It includes a few simple questions about your business and funding requirement(s).

How Much Would You Like to Borrow?

This is the question on everyone’s lips! Tell us what business loan amount you’re looking for to kick-start your application.

At Crispcap we arrange funding up to £500k for small businesses but be practical with your loan request. Whilst there is no strict rule for loan eligibility, you should consider how much your company earns compared to the funding you need.

How Long Have You Been Trading?

Let us know how long your business has been trading for. In most cases, the longer you’ve been trading, the easier it is to arrange a business finance loan. Nevertheless, Crispcap has secured plenty of business start up loans in the past! Get in touch with us and we’ll explore your finance options in more detail.

What Is Your Estimated Yearly Turnover?

Tell us how much your business turns over each year. Similarly to trading length, higher turnover often means you’ll have access to higher loan amounts. We work with businesses of every size and health, so don’t worry if your company is still growing – that’s what loans are for.

Personal Details

To finalise the business loan application process, we’ll need your name, business name, phone number, and email address. We’ll be in touch shortly after you submit the information to us.

Documents

After your application submission, we’ll chat more about your business’s industry, history, and plans for growth. We’ll request 2 key documents from you that will help you get a business finance loan.

Business Bank Statements

To get an idea of your business’s turnover and health, we will need (at least) the last 3 months of your business’s bank statements. From this document, we get an insight into the cash flow of your company and regular payments.

It’s worth noting that your bank statements will need to be downloaded in PDF from your mobile banking app or online portal. We can’t accept Excel worksheets or other formats.

Last Set of Full Filed Accounts

Your last set of full filed accounts is a vital indication of your company’s annual turnover and profit. The most comprehensive financial document that your business will have is this one.

The good news is that it’s very easy to obtain. Simply ask your accountant to send you the document and then you can email it to us along with your business bank statements. It’s quick, straightforward, and allows for full financial transparency.

The faster you send your documents to us, the faster the funding process will be!

Get your business loan application submitted in 30 seconds here.

Lender Application

Once your documents are over to us, you can rest assured that the rest of the process is in our hands.

Quote

At Crispcap we’ll give you an approximate quote from the information you’ve provided us. We will propose a loan term and amount that we think would work for you. We base this on a variety of factors including your turnover, length of trading, and credit rating.

If you’re happy with the business finance loan that we propose, we’ll send your application to a specialist lender.

Lender(s)

We carefully select a lender that is most likely to approve your application and fund you promptly.

Some finance brokers will put your application to multiple lenders with the intention of increasing your approval chances. However, our founder and chief finance broker, Josh Crisp-Jones, doesn’t believe in this practice. Instead, he says:

“At Crispcap we don’t spray your application around multiple lenders. We want to avoid multiple searches on your credit report as these could deter some lenders from working with you. Instead, we carefully select 1 or 2 lenders that we have good relationships with and have funded businesses like yours. It’s all about correct placement”.

You Receive Funding

Once we’ve found a business finance loan and repayment plan that works for you, we’ll send a DocuSign for you to complete. After that, the funds will be transferred to your business bank account.

Speed

Crispcap works far quicker than traditional banks, so you could have funds in your account within 4 hours of your application. We are a service renowned for funding business owners efficiently and stress-free.

Repayments

A business loan is granted based on financial reliability and trust. That’s why you must repay the loan on time and in full otherwise it can incur charges and even criminal penalties. It will also negatively impact your credit score and eligibility for finance options in the future.

What Can I Use a Business Finance Loan For?

There is a huge range of benefits that a business finance loan can offer SMEs. They can help with payments for bills, stock, equipment, staff wages, marketing, and much more. A loan can provide an injection of working capital to propel business growth to new and exciting heights.

Can I Get a Business Finance Loan?

You can apply for a business loan in 30 seconds with our free egibility criteria checker. It won’t affect your credit score, and you could borrow up to £500k.