B2B Finance FAQ
Answering questions from company directors about businesses loans, from saving on costs, to types of business finance we provide.
Why use ACF Direct?
Finding business finance doesn’t have to be complicated. As experts in all areas of business finance, we compare a wide panel of lenders, explain your options clearly, and help you secure the right funding with as little hassle as possible.
Why use a finance broker?
We operate as an independent broker, free from any ties to a single lender. We compare finance from our extensive panel of lenders to find the right solution for your business. It’s fast, straightforward, and backed by expert support every step of the way.
How does it work?
At ACF Direct we keep things simple. Complete our online form and we’ll give you a quick call to discuss your requirements. From there, we’ll compare our wide panel of lenders to find the right finance solution for your business.
Who Is Eligible For Business Finance?
Active UK businesses registered on Companies House with a Company Number with at least 3 years trading and 2 years accounts with good annual turnover, are the most viable candidates for a loan application being successful. Sole Traders with proven trade history and reliable income stream may receive limited finance offers.
What types of finance do you offer?
We offer a wide range of business finance solutions, including business loans, debt consolidation, invoice factoring, asset finance and vehicle finance. Whatever your funding needs, our expert team can help. We also specialise in setting up point-of-sale finance, helping businesses offer flexible finance to their customers.
How much can I borrow?
The amount you can borrow depends on your business and funding requirements, but typically we can arrange finance from £20,000 up to £1 million.
How long does the application take?
Every application is unique, so timescales can vary. Many customers receive a decision within a few hours, while more complex applications may take longer. Rest assured, we’ll keep things moving and keep you updated every step of the way.
How quickly can I get a decision?
We work with a wide panel of lenders to get you a decision as quickly as possible. Many applications receive an initial decision within 24 to 48 hours, and we’ll keep you updated every step of the way.
Will applying affect my credit score?
This depends on the lender. Some applications only require a soft credit check, while others involve a hard credit check that may affect your credit score. We’ll always let you know what to expect before proceeding.
Can I repay a loan early?
In many cases, yes. Early repayment is often available, although the terms and any applicable charges will depend on your lender and finance agreement. We’ll explain everything clearly before you proceed.
What interest rates do you offer?
Every application is different, so interest rates will vary depending on your business, the type of finance you need, and the lender. We’ll compare a wide range of lenders to find the most suitable and competitive option for you.
What documents do I need to apply?
The documents you’ll need depend on the type of finance you’re applying for. Typically, we’ll ask for recent business bank statements, company accounts and some basic business information. Bank Statements need to be PDF files, exported directly from your online business bank account.
For Companies
Companies House registered company name, number and be an active company. Dissolved companies are unlikely to meet the lender eligibility criteria. Directors full name, birth date, home address, email address, mobile / phone number. The company annual turnover, minimum 2 years accounts, loan amount requested and reason for finance are also required.
For Sole Traders
Owners full name, birth date, home address, homeowner status, email address, mobile / phone number. The company annual turnover, minimum 2 years accounts, amount requested and reason for finance are also required.
Do I need a minimum trading history?
It depends on the type of finance and lender requirements. While newer businesses may be considered, having 3+ years of trading history can improve your chances of securing the right finance solution.
Can I apply if I have a poor credit history?
Yes, you can still apply. While credit history is one factor lenders consider, we work with a wide panel of lenders and will look at your overall circumstances to find the most suitable options available.
What business types can apply?
We work with sole traders, partnerships and limited companies, helping businesses of all sizes access the right finance.
What if my business has existing finance?
That’s absolutely fine. We regularly help businesses with existing finance and may even be able to consolidate multiple agreements into one simple monthly payment, where appropriate.
What if I need help completing my application?
Don’t worry, you won’t be on your own. Our experienced team will talk you through the process and help make your application as simple and straightforward as possible.
Can I consolidate my existing business debts?
Yes. We work with a range of lenders who may be able to help consolidate existing business debts into a more manageable solution, depending on your circumstances. One loan, one payment, lower interest, save money.
Is debt consolidation suitable for every business?
Debt consolidation can help some businesses simplify repayments and improve cash flow, but it’s not right for everyone. We’ll look at your situation and recommend the most suitable solution.
Is my information secure?
Yes. We follow strict data protection procedures to keep your information safe and only share it with relevant lenders when required as part of your application.