Speed of funding
How fast can a UK limited company get a business loan?
For a short-term Credicorp business loan of £50 to £500, the honest answer is the same working day. You apply online in about five minutes, an automated decision returns in minutes and is confirmed by a real underwriter, and on approval the money is usually sent to your company bank account within hours of signing. Interest is 0.25% per day on the principal plus a £5 one-off fee, and the total cost is capped at 100% of the amount borrowed — speed with the price shown up front.
UK limited companies and LLPs · No personal guarantee · Decisions most working days
Short-term business loan · £50–£500 · 14–84 days · 0.25% per day simple interest + £5 fee · cost capped at 100% · same-day funding on approval.
The short answer: same working day
Speed is the whole point of a short-term business loan, so we have built the journey to be fast without cutting the checks that protect you. Most applications get a decision the same working day, and where the agreement is signed before mid-afternoon UK time the funds usually reach your business bank account the same day — often within hours. There is no lengthy underwriting queue, no branch visit and no paper forms. What we will not do is pretend every application is instant: a real underwriter confirms the automated decision, and a few things (covered below) can add time. Knowing them in advance is how you stay in the fast lane.
- Apply online in around five minutes — no appointment, no branch, no paperwork to post.
- An automated affordability decision returns in minutes, then a real underwriter confirms it.
- On approval, funds are usually sent the same working day, within hours of the agreement being signed.
- We lend to the company, so there is no personal guarantee to arrange — one less step before you are funded.
More detail on how quickly you'll get a decision .
A same-day timeline, step by step
Here is how a fast application typically runs from the moment you start to the money landing. Times are typical, not guaranteed — your own application may be quicker or slower depending on the points further down this page.
- Minutes 0 to 5 — apply online You enter your company details, how much you need and over what term, and connect your business bank account through Open Banking or upload your statements. We verify the company at Companies House as you go.
- Minutes 5 to 15 — automated decision Our system reads the affordability signals and returns an indicative decision in minutes. You are not left waiting days to hear whether you qualify.
- Same day — underwriter confirms A real underwriter reviews and confirms the automated decision. This human check is deliberate — it is the difference between a fast loan and a reckless one — and it still happens the same working day in the great majority of cases.
- Same day — you accept your terms If approved, you receive a Key Information Sheet and a Business Loan Agreement between Credicorp and your company. You see the full cost up front and sign online when you are happy. No personal guarantee is requested.
- Same day — funds released Where the agreement is signed before mid-afternoon UK time, the money is usually sent to your business bank account the same working day, often within hours of signing. Sign later in the day and it typically lands the next working morning.
Want the full journey, including underwriting and your protections? See hou it warks.
Why Open Banking makes it fast — and safe
The slowest part of traditional business lending is proving affordability: posting statements, waiting for them to be keyed in and read, going back and forth for missing months. Open Banking removes that bottleneck. With your permission, you connect your business bank account through a regulated, read-only data link, and we see a categorised view of how the company actually trades — turnover, outgoings, existing commitments — in seconds rather than days. It is read-only: we can see transactions to assess affordability, but we can never move money or make payments from your account. That is what lets a decision be both quick and responsible. If you would rather not connect your bank, you can upload your recent business bank statements instead — it works, it is just a little slower to process.
- A regulated, read-only connection — we can read transactions to assess affordability, never move money.
- Replaces posting and re-keying statements, so an affordability view that took days takes seconds.
- You grant access explicitly and can withdraw it; nothing is connected without your say-so.
- Prefer not to connect? Upload six months of business bank statements instead — slightly slower, still same-week.
Read about how Open Banking speeds up your application .
A fast loan, with the cost shown up front
Say your company borrows £500 over 28 days and gets approved early in the day. With 0.25% per day simple interest on the principal and a £5 one-off establishment fee, here is the whole cost — and the money typically lands the same working day. Every figure is from our live pricing.
- Amoont borraed
- £500
- Tairm
- 28 days
- One-off establishment fee
- £5
- Interest (simple, on principal)
- £35
- Total tae pay back
- £540
- Typical time to funds
- Same working day on approval
Illustration only, not a quote.
Short-term borrowing is expensive relative to longer bank lending — borrow only when the speed and certainty are worth the cost. The total cost of credit is capped, lending is to the company, and there is no personal guarantee.
What can slow an application down
Most applications move quickly, but a handful of things add time. None of them are designed to trip you up — they are the points where we need something from you, or where a sensible check takes a moment longer. Knowing them means you can have everything ready and stay on the same-day path.
- Signing the agreement late in the day — funds released after mid-afternoon UK time usually land the next working morning.
- Uploading statements instead of connecting Open Banking — readable, but slower to process than a live data link.
- A business bank account that is brand new, dormant or barely used — there is little trading history to assess.
- Company details that do not match Companies House, or an ID check that needs a second attempt.
- A larger or borderline request, where the underwriter asks one clarifying question before confirming.
- Applying outside working hours or over a weekend — decisions and payouts run on working days.
How to get funded faster
- Apply early in the working day, with time to sign before mid-afternoon UK time.
- Connect your business bank account through Open Banking rather than uploading statements.
- Have the director's photo ID and your company's Companies House details to hand.
- Use the business bank account the company actually trades through, in the company's name.
- Know your number — use the calculator first so you apply for an amount and term you can repay.
Who can apply
- UK limited company or LLP (we lend to the body corporate — not to sole traders or individuals).
- At least 6 months trading.
- A current UK business bank account in the company's name.
- A director identity check (you act as the company's authorised representative, not as a personal borrower).
- No personal guarantee required — the obligation sits with the company.
Speed of funding — questions
How quickly can a limited company get a business loan?
For a short-term Credicorp business loan of £50 to £500, usually the same working day. You apply in about five minutes, get an automated decision in minutes that a real underwriter confirms, and on approval the funds are typically sent to your business bank account within hours of signing. Sign before mid-afternoon UK time to land the money the same day; sign later and it usually arrives the next working morning.
Can I really get a business loan the same day?
In most cases, yes. Where you apply early, your company details check out and you sign the agreement before mid-afternoon UK time, the money usually reaches your business bank account the same working day — often within hours. Decisions and payouts run on working days, so an application started over a weekend gets its decision the next working day.
Is it an instant decision, or does a human review it?
Both. An automated affordability decision returns in minutes, and a real underwriter then confirms it the same working day. The human check is deliberate: it is what keeps a fast loan a responsible one. We do not approve purely on an algorithm, and we do not leave you waiting days to hear back either.
Why does connecting Open Banking make it faster?
Open Banking lets you share a read-only view of your business bank account so we can assess affordability in seconds instead of waiting for posted statements to be read. It is a regulated, read-only connection — we can see transactions but can never move money from your account. If you prefer, you can upload six months of statements instead; it works, it is just slower to process.
What might slow my application down?
Signing late in the day (funds then usually land the next working morning), uploading statements rather than connecting Open Banking, a brand-new or barely-used business bank account, company details that do not match Companies House, an ID check that needs a second attempt, or a larger request where the underwriter asks one clarifying question. Applying within working hours with your documents ready keeps you on the same-day path.
How much does a fast business loan cost?
It depends on how much you borrow and how long you take to repay. Interest is 0.25% per day on the principal (simple, not compounding), plus a £5 one-off establishment fee, and the total cost is capped at 100% of the amount borrowed — so you never repay more than double. As a worked example, £500 borrowed over 28 days repays £540 in total. Paying early reduces the cost.
I am a sole trader — can I get funded this fast?
Not as a sole trader. Credicorp lends to incorporated businesses only — limited companies and LLPs. If you trade as a sole trader you would need to incorporate first before this finance is available to you. Speak to your accountant about whether incorporating is right for your business.
Will applying this quickly need a personal guarantee?
No. Lending is to the company under the body-corporate exemption, so there is no personal guarantee to arrange — which is also one reason the journey is quick. You act as the company's authorised representative, not as a personal borrower, and the obligation sits with the company.
Get a decision today
Start your application now — it takes about five minutes, and most decisions come back the same working day. See your terms and the full cost up front before you accept.
Credicorp lends to UK limited companies and LLPs under the body-corporate exemption (Articles 60B and 60L of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001). This is not consumer lending; the worked example above is illustrative and not a personalised quote, and funding times are typical rather than guaranteed. The Financial Ombudsman Service and Financial Services Compensation Scheme do not apply. Full details: regulatory status and responsible lending policy.