How quickly can an established UK SME get a small business loan?
Short answer: Funding can land in 24–72 hours, but the exact timeline depends on the product, your documents, and the lender
Established UK SMEs can often receive unsecured funding in 24–72 hours once a complete application is submitted and identity and affordability checks pass. Asset-backed facilities and government-backed loans typically take longer because they require valuations, guarantees, or additional underwriting. The fastest outcomes happen when your trading history is stable, your financials are ready to share, and you’re matched to lenders actively lending in your sector.
Below, we explain realistic timelines by product type and lender, what speeds things up or slows things down, and how to prepare so you can move quickly without compromising on suitability. We also outline how Best Business Loans connects you with relevant lenders or brokers to accelerate the process. This guide is designed to be fair, clear and not misleading, follows UK advertising standards, and is written for established UK businesses.
Updated: October 2025. Information is general and not financial advice. Eligibility and funding speed are subject to provider criteria and status.
Typical funding timelines at a glance
- Unsecured term loans / revolving credit lines: 24–72 hours from full application to drawdown, when criteria are met.
- Merchant Cash Advance: 24–48 hours once card-processing statements are verified.
- Invoice finance (factoring/discounting): 2–5 working days to set up; 24 hours for ongoing drawdowns after onboarding.
- Asset finance (HP/lease): 2–7 working days, longer if equipment is specialised or needs a valuation.
- Secured loans: 1–3 weeks due to security, legals and valuations.
- High-street bank loans: 1–4 weeks, depending on complexity and documentation.
- Government-backed (e.g., Growth Guarantee Scheme): 2–6 weeks with accredited lenders because of additional checks.
Timescales assume established SMEs with clear trading evidence, up-to-date accounts, and consistent bank statements. Start-ups, sole traders and property finance are not supported via Best Business Loans.
What affects loan speed?
- Business profile: Trading history, profitability, sector, and credit behaviour all influence underwriting time.
- Documentation readiness: Lenders move faster when your bank statements, management accounts, and ID are complete and consistent.
- Loan type and security: Unsecured needs fewer steps; secured and asset-based facilities add valuations and legals.
- Provider capacity: Active, sector-relevant lenders with streamlined tech can decide and fund faster.
In practice, most delays come from missing documents, inconsistent bank data, or unexpected underwriting queries. You can avoid these with a preparation-first approach.
Fastest routes to funding for established SMEs
1) Unsecured short-term loans and revolving credit facilities
Many alternative lenders can approve and fund within 24–72 hours if you provide six months of bank statements, a recent set of accounts, and a clear loan purpose. Amounts usually align with turnover and affordability, with soft-search options sometimes available at enquiry stage. Expect faster proceeds for repeat customers or where open banking access is given.
Revolving credit lines function like an overdraft alternative, letting you draw what you need and pay interest only on what you use. These can be set up quickly and are popular for managing seasonal cash flow or short-term working capital gaps.
Speed trade-off: pricing may be higher than bank loans, and limits may be tighter, though the flexibility can be worth it for time-sensitive needs.
2) Merchant Cash Advance (card-receipts funding)
For card-taking businesses in sectors like hospitality or retail, merchant cash advances can be among the quickest routes to capital. Providers review your card-processing statements, then offer an advance repaid via a small percentage of daily card takings. Initial funding can happen within 24–48 hours once verified.
This approach aligns repayment with revenue, which can help cash flow. However, effective cost can be higher than traditional loans, and maximum advance amounts depend on average monthly card turnover.
Best for businesses with consistent card sales and immediate funding needs for stock, repairs, or short-term projects.
3) Invoice finance (factoring and discounting)
Invoice finance frees cash tied up in unpaid invoices. Onboarding can take 2–5 working days because providers assess your debtor book, contracts, and processes. After setup, funds against approved invoices can arrive in as little as 24 hours.
It’s well-suited to B2B SMEs in manufacturing, logistics, construction supply chains and professional services. The facility grows as your sales grow, and can be competitively priced relative to unsecured loans.
Trade-off: you need to maintain sales ledger discipline and meet ongoing reporting requirements to keep the facility running smoothly.
How to get funded in 24–72 hours
Follow this streamlined process
- Pin down purpose, amount, and urgency. Clarity speeds underwriting and shows affordability thinking.
- Gather core documents. Have the last six months of business bank statements ready, plus filed or draft accounts.
- Add up-to-date management figures. A recent P&L and balance sheet help explain trading performance post-accounts.
- Provide ID and company proof. Director photo ID, address proof, and Companies House details are standard.
- Share card or debtor data if relevant. Card statements for MCAs; aged debtor list for invoice finance.
- Use open banking if comfortable. This can cut manual checks and shorten time-to-cash.
- Work with an introducer who pre-matches. Relevant lenders mean fewer dead ends and quicker decisions.
Documents checklist to accelerate approval
- Business bank statements: last 6–12 months, in PDF or via open banking.
- Accounts: last filed accounts, plus latest management accounts.
- VAT returns: helpful for turnover consistency checks.
- Director KYC: photo ID, address proof, and, where required, shareholder info.
- Supporting data: card-processing statements, aged debtor/creditor reports, major contracts or purchase orders.
- Asset details: for asset finance, include supplier quote and asset spec; for secured loans, title and security info.
If you have adverse items such as CCJs or arrears, prepare short explanations. Clear context can preserve momentum and avoid repeated queries.
Common reasons same-week funding is declined
- Inconsistent bank statements, frequent returned direct debits, or signs of distress without a turnaround plan.
- Incomplete documents or delayed responses to underwriting questions.
- Requested amount misaligned with turnover, margins or cash flow projections.
Be realistic on amount and term. Align repayments with cash flow and seasonality, and be ready to demonstrate use of funds and benefits to the business.
Realistic timelines by lender and product
High-street banks vs alternative lenders
High-street banks: typically 1–4 weeks, longer where security or business plans are required. They can be cost-effective but may need deeper documentation and committee sign-off. Relationship history helps.
Alternative lenders: often 24–72 hours for straightforward unsecured facilities, with streamlined underwriting and open banking. Cost can be higher, but speed and flexibility are strong advantages.
For time-critical opportunities, many SMEs prefer a quick alternative facility first, then refinance later if cheaper long-term options become available.
Asset finance, secured loans and valuations
Asset finance (hire purchase or leasing) usually completes in 2–7 days depending on the supplier, asset type and underwriting complexity. New or common machinery lines move faster than niche or used assets that require inspection.
Secured loans may take 1–3 weeks to allow for valuations, legal work and any third-party consents. The trade-off is potentially larger amounts and lower rates versus unsecured funding.
Make sure suppliers respond quickly with quotes, specs and delivery dates to prevent hold-ups.
Government-backed loans (e.g., Growth Guarantee Scheme)
Facilities offered under government guarantees through accredited lenders can require more documentation. Expect 2–6 weeks depending on lender capacity and complexity.
You’ll still be assessed on creditworthiness, viability and affordability. The guarantee is to the lender, not the borrower, and is not a substitute for good trading fundamentals.
Check the British Business Bank for scheme details and accredited providers. Timelines vary across lenders and sectors.
Costs vs speed: what to expect
Faster decisions can carry higher effective costs, especially for MCA and some unsecured lines. Banks and secured facilities may be cheaper but slower.
Fees can include arrangement fees, draw fees, valuation fees, or early settlement costs. Always review the total cost of finance and impact on cash flow.
Best Business Loans does not promise the lowest rate, but aims to connect you to relevant, active providers so you can compare and decide confidently.
Sector-specific notes and practical examples
Manufacturing and engineering
Invoice finance and asset finance are common due to purchase orders, debtor cycles, and equipment needs. Onboarding for invoice finance can be 2–5 days, then invoice drawdowns are rapid.
Machinery finance timelines vary by supplier readiness and asset complexity. Proactive supplier coordination speeds outcomes.
If you need working capital fast, an unsecured line alongside invoice finance can bridge gaps.
Construction and building trades
Stage payments, retentions and CIS dynamics often make invoice finance valuable, but documentation must support the underlying contracts. Setups often take a week or two for complex ledgers.
Unsecured working capital loans can still arrive in 24–72 hours if bank statements and accounts are clear. Lenders may cap exposure to ensure affordability.
For plant or vehicle finance, pre-agree credit with an asset funder so drawdown is quick when a deal appears.
Hospitality, retail and eCommerce
Merchant cash advance can be one of the quickest options for card-taking businesses, often funding in 24–48 hours after verification. Repayments flex with daily takings.
Inventory finance and revolving credit can support stock cycles, while unsecured loans can cover refurbishments or equipment.
If seasonality is strong, match repayment structures to revenue patterns to protect cash flow.
Professional services, logistics and healthcare
These sectors often qualify well for invoice finance due to B2B billing and predictable debtor books. Once live, rolling drawdowns can be near-instant for approved invoices.
Unsecured working capital can complete within days for payroll peaks, software upgrades or fit-outs. Lenders assess stability of contracts and client concentration risk.
Healthcare and care providers may access competitive asset finance for clinical or mobility equipment, with timelines linked to supplier documentation.
Can you get same-day funding?
Same-day is possible in limited circumstances where you are an existing customer with a lender, or where your documents are fully pre-verified and aligned to a product with rapid disbursement. First-time applications are more often 24–72 hours.
Giving open banking access, responding quickly to queries, and choosing a lender already active in your sector increases the odds of same-day or next-day deals.
Be cautious of any “guaranteed same-day” claims. Responsible lenders must complete checks to ensure the funding is suitable and affordable.
How Best Business Loans helps you move faster
We match you to relevant providers, fast
BestBusinessLoans.ai does not supply loans or provide financial advice. We use AI-driven matching and a professional network to introduce you to lenders or brokers likely to support your profile and loan purpose.
Complete a short Quick Quote to receive an eligibility-oriented introduction for a potential Decision in Principle. This is non-binding and subject to full underwriting.
By focusing on sector-relevant and actively lending providers, we help reduce time wasted on unsuitable applications and accelerate time-to-offer.
What we are and aren’t
- We are an independent introducer helping established UK businesses find suitable finance providers.
- We are not a lender and do not handle consumer lending, property finance, start-ups, sole traders or franchises.
- We aim to ensure communications are fair, clear and not misleading, with no guarantees and no pressure to proceed.
Your information is handled securely and shared only with relevant finance professionals for your enquiry. You remain in control throughout.
Next steps: no-obligation eligibility check
Tell us about your business, the amount you need, and what it’s for. Our system will guide you toward providers positioned to decide quickly.
If speed matters, have your recent bank statements, accounts and ID ready to share. This can be the difference between funding in 48 hours and funding next week.
Learn more about options for established SMEs and small business loans, or submit your Quick Quote to begin.
FAQs: How fast can an established UK SME get finance?
How fast can I get an unsecured small business loan? Many SMEs receive funds in 24–72 hours once documents and checks are complete.
What documents speed up approval? Six months of bank statements, latest accounts, management figures, and director ID. Open banking access helps.
Why do secured loans take longer? Valuations, legal work and security checks add time, typically pushing completion to 1–3 weeks.
Will a Decision in Principle guarantee funding? No. It’s indicative and subject to full underwriting, which may change the outcome or terms.
Can I get same-day funding? It’s possible but uncommon for first-time applications. Next-day is more realistic with complete documents.
Key takeaways
- Unsecured and MCA facilities can fund in 24–72 hours; asset and secured options take longer.
- Preparation is everything: complete documents, open banking, and quick responses move the needle.
- Match the product to your cash flow so repayments remain manageable.
- Use introducers to find active, relevant lenders and reduce time to decision.
- No finance is guaranteed; all funding is subject to status, affordability and provider criteria.
Important information and compliance
Best Business Loans operates as an independent introducer. We do not provide loans or financial advice and are not a lender.
Any finance is provided by third-party lenders or brokers, who will be authorised and regulated where required. Eligibility, rates and timescales vary and are subject to status and underwriting.
This page is for information only and aims to be fair, clear and not misleading. Consider independent advice where appropriate and review official sources such as the FCA and the British Business Bank for up-to-date guidance.