Getting a business loan may previously have been something you thought was just too complicated, would take too long, or just wouldn’t work for your company. Today, Funding Bay will debunk these common misconceptions and show you that, in fact, the process of starting a business is much simpler than you may think. With the assistance of our team at Funding Bay, the tough decisions and uncertainty will hopefully be alleviated.
Step 1:
Get in contact with a member of our team and have a chat about your business situation and how much funding you are after.
Step 2:
Fill out a Discovery Form to provide our team with your business’s financial details. This will include providing bank statements and your end-of-year statements
Step 3:
One of our brokers will assess your discovery form and decide which lender and which financial product is most suited to your situation. Loan products range from Asset Finance, Invoice Finance, Secured Loans, Unsecured Loans, and many more.
Your broker will then fill out your application for you (handling the boring bits!) and manage the underwriting process.
Step 4:
We will be the sole point of contact between the lender and your application. Our brokers have close relations with the lenders, so they will be able to monitor and manage the progress of the application and ensure a faster response rate.
If the lender does not accept your application, we can take it to another lender. We work with a panel of over 200 lenders, all of whom are designed and specialised for different situations.
The range of lenders we work with includes Bibby Financial Services, Ultimate Finance, Nucleus Commercial Finance, Market Finance, and many more.
Step 5:
The lender will accept your application. The success rate with the broker will be discussed, and your loan will be transferred to your account.
Get in touch with a member of the Funding Bay team to find out more here.
