# How long does a lending decision take?

*Source: https://credicorp.co.uk/support/how-long-does-a-lending-decision-take/*

Most people applying for a short-term loan want to know one thing first: how quickly will I hear back? The honest answer is that it varies, but it is usually fast. With read-only Open Banking and a clean company profile, a decision can come in minutes. If you upload PDF statements, or if your application needs a human to look at it, it takes longer. This article explains what drives the speed so you can get an answer as quickly as your situation allows.

## The fast path: minutes

The quickest decisions happen when three things line up. First, you connect your company’s bank using Open Banking rather than uploading documents, so we can read the account immediately and securely. Second, your company profile is straightforward: clear on Companies House, with a business credit check that returns cleanly. Third, your identity check passes first time. When all three hold, much of the assessment is automated, and we can often respond within the hour and fund the same business day. To see this from the bank side, read [how we verify your company’s bank statements with Open Banking](/support/how-we-verify-bank-statements-open-banking/).

## The slower path: hours to a few days

Several normal things lengthen the timeline, none of which means a no.

- **PDF statements instead of Open Banking.** If you upload six months of statements, a person reviews them. That is perfectly acceptable, it just is not instant.

- **Human review.** Some applications are referred to a person, for example where the picture is mixed or the amount is at the top of what the company’s cash flow supports. Careful is sometimes slower.

- **Information we need to confirm.** If your Companies House record is out of date, or your ID check needs a second attempt, we may come back to you. Replying quickly keeps things moving.

- **Time of day.** Applying late in the day can push funding to the next business day even after a quick approval.

## What you can do to speed it up

- Choose Open Banking if you are comfortable with read-only access.

- Apply with the bank account your company actually trades through.

- Make sure your company details and directors on Companies House are current.

- Have photo ID ready so the identity check passes first time.

- Watch for any message from us asking for one more thing.

## Decision speed is not approval

A fast process does not mean an automatic yes. We still run a business credit check on the company and assess affordability properly; we simply do it quickly when the data lets us. We will sometimes offer less than requested, or decline, because responsible lending means matching the loan to what the company can comfortably repay. A quick decision is a benefit of good data, not a shortcut around the checks.

## When you get your answer

If we can lend, your offer arrives with a **Key Information Sheet (KIS)** setting out the amount, term, total cost of credit and the full repayment schedule, and you sign the **Business Loan Agreement** online. You can always preview current amounts, terms and costs on [our business loans page](/business-loans/) before you apply, so the cost is never a surprise at the end.

For more detail on timing, our support note [how quickly will I get a decision](/support/how-quickly-will-i-get-a-decision/) covers the common cases. Remember this borrowing is to a company for business purposes, so it sits outside FCA consumer-credit regulation under Article 60B FSMA RAO 2001 and is not covered by the Financial Ombudsman Service or the FSCS. Speed should never push you into borrowing that is not right; a short-term loan is expensive, so take a moment with the figures before you sign.

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Credicorp Limited — UK lender to limited companies (Company No. 16093826). credicorp.co.uk