Is there any obligation to proceed after I receive introductions or quotes?
The short answer and what “no obligation” really means
No — there is absolutely no obligation to proceed after you receive introductions or quotes through Best Business Loans. Your enquiry is free, non-binding, and designed to help you explore suitable finance providers without pressure. You remain in complete control at every stage.
We don’t lend money directly, and we don’t provide regulated financial advice. Our role is to help you find and compare relevant finance options from lenders and brokers in our network.
When you receive an introduction or a quote, it’s an invitation to review potential terms, not a commitment to accept them. You decide whether to continue, pause, or walk away.
Your enquiry, your decision
Our AI-driven matching suggests providers based on your business profile and funding needs. If the options aren’t right, you can ask us to refine the search or you can stop the process. There are no penalties for choosing not to proceed.
Quotes are usually “indicative” and subject to underwriting, affordability checks, and availability. If a formal offer arrives and you don’t like the terms, you can decline it without obligation.
This approach aligns with the FCA’s “clear, fair, and not misleading” standards for financial promotions. It also supports Google’s advertising guidance, which expects transparent, decision-useful information for users.
What an introduction actually involves
An introduction means we connect you with a suitable lender or broker. You’ll decide whether to engage with them and share more details.
Introductions do not bind you to contracts or fees. If a broker charges a fee for their service, they should disclose this clearly before you agree to proceed.
We aim to make your options simple to understand, so you can choose the route that fits your cash flow and goals. You can request alternative quotes or exit the process at any time.
How introductions and quotes work — step by step
From Quick Quote to introductions
First, complete a Quick Quote on our site with essential details about your company and funding goals. Our system reviews your information against current market appetite and typical lender criteria. We then introduce you to relevant providers who may be able to help.
You can expect early-stage quotes or indicative terms from those providers. These are not binding and are based on the information you’ve supplied.
If the high-level terms look promising, you can share more documentation to progress. If they don’t, there’s no requirement to go further.
What lenders and brokers may ask for next
To move from an estimate to a formal offer, providers may request supporting documents. This is normal and ensures affordability and suitability are properly assessed. Typical requests can include the following items.
- Latest filed accounts and recent management information
- Bank statements (often three to six months)
- Details of existing finance agreements
- Business plan, forecasts, or project summary
- Asset schedule or invoices for equipment/vehicles
Providing documents does not obligate you to accept an offer. It simply allows providers to make a fully assessed proposal.
What counts as a formal offer?
A formal offer (also known as a credit agreement, facility letter, or heads of terms) sets out the final terms, fees, and conditions. You are typically only committed once you sign and return the relevant documents. Until then, you can reject the offer without penalty.
Some commercial agreements do not include statutory cooling-off periods. Always read the documents and ask the provider to explain any obligations before you agree.
About credit checks and your credit profile
Many early-stage eligibility checks can be carried out as soft searches by brokers or lenders. Soft searches don’t affect your credit score.
When you choose to make a full application, a lender may perform a hard credit search. Hard searches can leave a footprint visible to other finance providers.
We encourage you to ask providers upfront what kind of search they intend to run. This helps you make an informed decision about next steps.
Reasons you might choose not to proceed — and how we support that choice
It’s fine to walk away
There are many legitimate reasons to pause or stop your application. Perhaps the rate, fees, or covenants don’t fit your cash flow. Maybe the security requirement or personal guarantee isn’t acceptable.
Sometimes, underwriting adjusts the initial quote after more information is reviewed. If the revised terms don’t suit, you can walk away without obligation.
At every stage, you remain in control of the decision to proceed or not. Our role is to help you make that decision confidently.
Typical reasons businesses decline offers
- Total cost of credit is higher than expected after underwriting
- Repayment profile doesn’t align with seasonal cash flow
- Security or guarantees requested aren’t acceptable to directors
- Another provider presents more flexible terms or better fit
- The timing of the funding need changes or project is delayed
Declining an offer does not stop you from asking us to match you again later. Market appetite and product availability change over time.
If your sector has specific considerations, tell us early so we can refine your matches. For example, hospitality operators often seek fit-out finance aligned with trading peaks.
Sector-specific context and internal link
Different industries face unique funding patterns, seasonality, and asset structures. If you operate in hospitality, you may find our guidance on hotel and hospitality business finance helpful. We can introduce you to providers comfortable with sector-specific cash flow and collateral.
Our matching takes these nuances into account to increase relevancy. Still, you are never obliged to accept any quote or offer.
We recommend comparing more than one option where time allows. This improves confidence in both price and product-market fit.
What happens if you do want to proceed
Moving from quote to acceptance
If you like a proposal, the lender or broker will outline the next steps. This may include document verification, final underwriting, and signing formal agreements. The provider should present all fees and charges in a clear and transparent format.
Common fees can include arrangement fees, documentation fees, and broker fees where applicable. Security registration costs and valuation fees may also apply for asset-backed facilities. Ask the provider for a full fee schedule and total cost of credit before signing.
Once you sign, you’ll be bound by the facility’s terms and conditions. If terms change before drawdown, ask for an updated written offer to review again.
Typical documents and checks at acceptance stage
- Identity and anti-money laundering checks for directors and shareholders
- Security documents, debentures, or personal guarantees where required
- Asset valuations or invoice verifications for asset and invoice finance
- Final facility letter including interest, fees, and repayment schedule
- Direct debit mandate and drawdown request
If anything is unclear, pause and ask for clarification in writing. Providers should be willing to explain conditions, covenants, and obligations plainly. Always ensure the proposed repayments are affordable for your business.
Cooling-off and cancellation
Consumer rules and cooling-off periods often do not apply to commercial finance. Some facilities may allow you to cancel before drawdown, but this is not guaranteed. If cancellation is possible, there may still be valuation or legal fees to settle.
Ask the provider to confirm your rights in writing before signing. Avoid making any final commitments until you are satisfied with all conditions. If you’re unsure, consider seeking independent professional advice.
Our commitment is to transparency and user control at every stage. You should only proceed when the finance solution clearly supports your goals.
FAQs, compliance, and key takeaways
Frequently asked questions
Is there any obligation to proceed after introductions or quotes? No, there is no obligation to proceed at any time before you sign a formal agreement. Introductions and quotes are provided so you can evaluate your options without pressure.
Will checking my eligibility affect my credit score? Early-stage checks are often soft searches and don’t impact your score. If you proceed to a full application, lenders may run a hard search that leaves a footprint.
Do you charge me a fee? It’s free to submit your Quick Quote to Best Business Loans. If a broker or lender charges a fee, they will disclose this clearly before you proceed.
Are quotes guaranteed? No, quotes are indicative and subject to underwriting, documentation, and market conditions. Final terms are confirmed in a formal offer, which you can accept or decline.
Do you provide financial advice? We are an independent introducer and do not provide regulated financial advice. We connect you with providers and help you compare options so you can make an informed choice.
Are you regulated by the FCA? Best Business Loans is not a lender and operates as an introducer. We align our information with FCA standards for promotions to be clear, fair, and not misleading, and we aim to introduce you to FCA-authorised firms where required.
Clear, fair, and not misleading — our compliance stance
We follow established UK standards for transparency and clarity in financial promotions. That includes the FCA’s expectation that communications be clear, fair, and not misleading. It also reflects Google’s requirement to provide adequate information for informed decisions.
We don’t guarantee approval, we don’t promise the lowest rates every time, and we won’t pressure you to proceed. All costs, fees, and material conditions are disclosed by the provider before you choose to move forward. Where industry terminology is complex, we encourage providers to explain in plain English.
If you ever feel uncertain about a term or cost, ask for clarification in writing. A responsible lender or broker will welcome your questions. We’re here to help you compare and decide, not to force a particular outcome.
Key takeaways
- No obligation: You can stop after introductions or quotes with no penalty.
- Indicative first: Initial quotes are not binding and may change after underwriting.
- Formal offer binds: You’re only committed when you sign a formal agreement.
- Fees disclosed: Any broker or lender fees must be explained before you proceed.
- Credit checks: Early soft checks are common; full applications may trigger a hard search.
- Control: You decide the pace, the provider, and whether to proceed at all.
Next steps — check your eligibility with no obligation
If you want to explore options without commitment, start with a Quick Quote. It takes a couple of minutes and helps us match you with relevant providers. You can compare terms, ask questions, and proceed only if it suits your business.
Ready to explore non-binding options tailored to your sector and goals? Submit your Quick Quote now for a free, no-obligation introduction. It’s fast, secure, and designed to put you in control from start to finish.
Updated: October 2025
About Best Business Loans
BestBusinessLoans.ai is an independent UK introducer using AI to match established businesses with suitable lenders and brokers. We don’t offer loans directly and we don’t provide regulated financial advice. Your data is handled confidentially and shared only with relevant providers to progress your enquiry.
We support a wide range of funding types, including asset finance, equipment finance, invoice finance, vehicle finance, and cash flow loans. Our goal is to save you time and help you make informed decisions. No obligation, no pressure — just smarter matching.
Start your journey: Get your free Quick Quote now to see non-binding options in minutes.