How long does it take to get a Decision in Principle after a Quick Quote?
Short answer: most UK businesses receive a Decision in Principle within minutes to 48 hours
After you submit a Quick Quote, a Decision in Principle (DIP) can arrive as fast as 15–60 minutes during business hours for straightforward cases, and typically within 24–48 hours for more detailed applications. Complex funding (for example, asset-heavy or multi-director structures) may take 2–5 working days. Timings depend on the finance type, the information you provide, and each provider’s underwriting process.
Best Business Loans is an introducer, not a lender. We connect you with suitable lenders or brokers so you can get a DIP quickly and confidently.
What is a Decision in Principle?
A Decision in Principle (sometimes called an “Agreement in Principle”) is a conditional indication that a lender would be willing to finance your business, subject to full underwriting and verification. It outlines the likely amount, pricing range, and key conditions. It is not a binding offer, but it helps you preview eligibility and next steps.
What does our Quick Quote do?
Our Quick Quote gathers the key details lenders use to triage your request. It helps our AI match you to active UK providers most aligned with your business profile and funding purpose. This is the fastest route to a realistic DIP without multiple cold applications.
Important notice
All timelines are indicative. No outcome or timescale is guaranteed, and your credit score will not usually be affected at the DIP stage if only a soft search is used.
1) What happens between a Quick Quote and a DIP?
Once you complete your Quick Quote, our system routes your enquiry to selected lenders or brokers matched to your sector, loan purpose, and business profile. They run initial checks to confirm eligibility and likely affordability. Based on those checks, they issue a DIP or request clarification.
Most lenders complete three quick steps before issuing a DIP. First, they review the basics: trading history, turnover, profitability, and existing commitments. Second, they perform risk screening: sector appetite, credit markers, and early fraud/AML checks.
Third, they estimate affordability using recent bank activity or projected cash flow. Some will invite secure Open Banking access to speed this up. Many DIPs are issued the same day once these steps are complete.
Common checks that influence DIP timing
- Soft credit search on the company and, sometimes, directors.
- Companies House cross-checks (status, filings, charges, CCJs).
- Bank statement screening (via uploads or Open Banking).
- High-level affordability modelling against requested loan size.
- Sector appetite and purpose alignment (e.g., equipment vs working capital).
Soft search vs hard search
Many providers use a soft search at the DIP stage, which does not impact your personal credit score. A hard search usually occurs only when you proceed beyond DIP. Your lender or broker should explain which type they are using and when.
Open Banking can accelerate your DIP
Consenting to Open Banking often cuts hours or days from the timeline. It lets providers verify trading patterns securely and quickly. If you prefer document uploads, ensure bank statements are complete and legible to avoid delays.
2) Typical DIP timescales by finance type
Different products have different underwriting depth, so timescales vary. Below are realistic UK benchmarks for established SMEs. Times assume business hours and promptly supplied information.
Unsecured business loans (working capital/growth)
Indicative decisions often arrive within 15–60 minutes for straightforward profiles. Same-day DIPs are common up to defined limits. Complex structures or recent credit events can extend this to 24–72 hours.
Asset and equipment finance
Many providers issue same-day DIPs once they see supplier quotes and basic financials. If assets are specialist or the facility is large, expect 24–72 hours. Additional checks may include asset valuation or usage context.
Invoice finance (factoring or discounting)
Indicative terms may be provided in 24–48 hours once your debtor book, concentrations, and payment history are reviewed. Faster DIPs are possible if ledger reports are ready. Complex debtor profiles can push timelines to 2–5 days.
Growth Guarantee Scheme-backed loans
Scheme-backed facilities can take longer due to additional eligibility criteria and checks. A DIP may take 48–72 hours in straightforward cases. Full approval can take longer depending on the lender’s pipeline and evidence needed.
Small business loans
For established SMEs with clean filings and consistent bank statements, DIPs are often same-day. If you need guidance on SME funding choices, explore our resource on small business loans. Where accounts are complex or seasonality is pronounced, allow 1–3 working days.
When “instant” isn’t realistic
Speed depends on completeness and clarity. If providers need to reconcile mismatched data or locate missing documents, they may pause the DIP. Being proactive with information is the best accelerator.
3) What speeds up or delays your DIP?
Three factors dominate: data quality, business complexity, and product fit. Provide clear, current information, and match the facility to the need. This reduces back-and-forth and triggers faster indicative decisions.
Fast-track scenarios include stable trading, clean credit, simple structures, and a clear use of funds. Pre-prepared documents also help. Providers are faster when they can verify facts without chasing.
Common delays stem from missing bank statements, inconsistent figures, or unresolved credit events. Sector exceptions, high debtor concentration, or unusual assets can add time. Timing also depends on how quickly directors respond to KYC requests.
Signals that usually accelerate DIPs
- Limited company or LLP trading 24+ months with filed accounts.
- Clear turnover trends and positive operating cash flow.
- Ready access to six months of business bank statements.
- Supplier quotes or asset specs for equipment or vehicle finance.
- Consent to Open Banking for instant verification.
Reasons a provider may pause
- Recent CCJs, defaults, or unsatisfied charges needing context.
- Large seasonal swings with no supporting commentary.
- Mismatched director information vs Companies House.
- Unclear loan purpose, or facility misaligned to use case.
- High customer concentration for invoice finance without mitigations.
Sector and risk appetite matter
Lenders adjust pace based on current appetite and macro conditions. Construction, hospitality, and transport can be fast, but appetite shifts over time. If market appetite is tight, expect more questions before a DIP.
4) How to get your DIP faster: a practical checklist
The clearest way to speed up a DIP is to submit complete, consistent information at the first touch. Use this checklist as you prepare your Quick Quote and follow-up. Even one missing piece can add days.
- Company details: legal name, registration number, trading address, VAT number (if applicable).
- Director details: full names, DOBs, home addresses, and ownership percentages.
- Financials: last filed accounts; management accounts if recent; turnover and profit trend.
- Banking: six months of business bank statements or Open Banking consent.
- Existing borrowing: lenders, outstanding balances, monthly repayments, end dates.
- Purpose: clear narrative on how the funds will be used and expected outcomes.
- For asset finance: supplier quote, asset description, serial/spec, age (if used), VAT status.
- For invoice finance: aged debtor and creditor reports, top 10 customers, payment terms.
- For vehicles: vehicle specs, mileage (if used), usage, and anticipated delivery dates.
- Security: details of any guarantees, debentures, or charges; ownership and intercompany links.
Respond quickly to any follow-up questions. Keep tone factual and consistent across documents. If anything has changed since your submission, flag it proactively.
Data tips that reduce rework
- Ensure Companies House filings match your application details.
- Use the same trading figures across forms, accounts, and statements.
- Label file names clearly (e.g., “ABC Ltd Bank Statements Jan–Jun 2025”).
Next step
Complete your Quick Quote now. Our AI will match your enquiry to relevant providers so you can receive a DIP as quickly as possible. There’s no obligation to proceed.
5) What a DIP means, validity, and what happens next
A DIP is an indicative, non-binding view subject to full underwriting, KYC/AML checks, and evidence. It outlines likely amounts, rates, fees, terms, and any conditions. You remain free to compare options before proceeding.
Most DIPs are valid for a short window, often 14–30 days, depending on the provider. If your situation changes materially in that time, your DIP may be refreshed or revised. Rate and appetite can move with market conditions.
To move from DIP to a formal offer, you’ll provide final documents and answer any outstanding questions. Lenders may run a hard credit search at this stage, with your consent. Once approved, funding can be fast—sometimes within 24–72 hours for simpler cases.
Clear, fair, and not misleading
We aim to ensure information is clear, fair, and not misleading, in line with UK regulatory expectations. Best Business Loans does not provide loans or credit decisions; we introduce you to finance providers who may be able to help. Eligibility, rates, and timescales vary by provider, product, and your business profile.
Key takeaways
- Fastest DIPs: 15–60 minutes during business hours for straightforward unsecured requests.
- Typical range: same day to 48 hours; complex cases can take 2–5 working days.
- Speed up your DIP: share complete data, consent to Open Banking, and clarify the use of funds.
- DIP is indicative, not an offer; it’s subject to full checks and may include conditions.
- No guarantees on approval or timescales; market appetite and risk factors apply.
Ready to check your eligibility?
Submit a Quick Quote and let our AI match you to lenders or brokers who are active in your sector. It’s free to enquire and there’s no obligation to proceed. You stay in control throughout.
Important information and compliance
Best Business Loans is an independent introducer helping UK businesses connect with commercial finance providers. We do not offer loans directly, provide advice, or guarantee outcomes or the lowest rates. Where providers require it, they will explain any searches that may affect credit files before proceeding.
Financial promotions should be clear, fair, and not misleading. All examples and timelines on this page are illustrative and not commitments. You should consider professional advice where appropriate.
We don’t currently support start-ups, sole traders, franchises, property finance, or commercial mortgages. Our focus is established UK companies seeking working capital, asset finance, invoice finance, vehicles, and other commercial funding needs.
About Best Business Loans
BestBusinessLoans.ai helps established UK businesses navigate funding options using AI-driven matching. We connect you with suitable lenders and brokers across working capital, equipment, vehicles, invoice finance, and more. Your information is handled securely and shared only with relevant finance professionals.
Updated: October 2025. For queries, email hello@bestbusinessloans.ai. No fees to submit an enquiry.