How quickly can I get a Decision in Principle for asset finance?
Quick answer
A Decision in Principle (DIP) for asset finance can be issued anywhere from a few minutes to several working days depending on the lender, the asset type and how complete your documents are.
If your business profile is straightforward and you supply the right information, many lenders or brokers can provide a provisional decision the same day; complex cases take longer.
What is a Decision in Principle (DIP) for asset finance?
A Decision in Principle is a provisional assessment from a lender or broker that indicates whether your business is likely to be accepted for asset finance and roughly on what terms.
It is not a binding offer and usually does not guarantee final approval until full underwriting and verification are complete.
DIPs typically require basic business details, the asset type and value, how the asset will be used, and high-level credit information.
For asset finance this can include equipment, machinery, vehicles or renewable energy installations, and the DIP focuses on the asset’s suitability as security and the borrower’s ability to pay.
Typical timescales and the factors that affect speed
Simple cases: some digital lenders and specialist brokers can return a DIP within minutes to a few hours when you use an online form with complete information.
Average cases: for most high-street lenders and broker-assisted applications, expect 24–72 working hours for a DIP once all required details are submitted.
Complex cases: bespoke financing, unusual assets, or weakened credit histories can add several days or weeks while lenders request valuations, additional documentation or management accounts.
Key factors that influence timing include: the lender’s underwriting process, whether a physical valuation is needed, the asset age and type, the clarity of your paperwork, and how quickly you respond to follow-up questions.
When you can get a same-day or instant DIP
Instant or same-day DIPs are common when lenders have automated credit checks and standardised asset categories such as vans, tractors or common plant.
Digital funders use API-driven credit scoring, identity checks and pre-built decision models to provide near-instant feedback for eligible applicants.
Brokers with strong lender panels and pre-established relationships can also secure fast provisional decisions by matching your profile to lenders who are actively lending for that asset and sector.
Where the asset is newly priced, with full invoices and a healthy deposit or low loan-to-value (LTV), many funders will prioritise and speed up the DIP.
How to speed up your DIP: a practical checklist
Prepare these items to reduce delays: recent business bank statements, management accounts or annual accounts, director ID, VAT registration (if applicable), and the commercial invoice or quote for the asset.
Clearly describe the asset (make, model, age, hours/mileage, serial number) and the intended business use to help underwriters assess residual value and risk.
If the asset requires a physical inspection, arrange access promptly or provide recent valuation reports to avoid hold-ups.
Use a broker or introducer who understands asset finance; they will know which lenders are quickest for your asset and can submit a targeted enquiry.
Best Business Loans can help accelerate this stage by matching your Quick Quote to lenders and brokers actively lending in your sector. Start here to explore asset finance options: Asset finance overview.
What happens after a DIP and realistic expectations
A positive DIP means you can proceed to a full application with greater confidence, but expect further checks on credit, accounts and the asset’s condition.
Lenders usually follow DIP with a formal credit assessment, documentation checks and, where necessary, asset valuation or inspection before issuing a formal offer.
Timelines after DIP depend on the lender’s onboarding: some complete full approval and paperwork in a few days, while specialist or large-ticket financings can take several weeks.
If a DIP is declined, it often indicates areas to improve — for example, providing more up-to-date accounts, reducing the requested amount, or increasing the deposit — and you can re-approach suitable lenders with those changes.
Remember: Best Business Loans does not lend directly. We introduce you to lenders and brokers who may provide DIPs, and we can help you compare quick options before you commit to a full application.
Key takeaways
– A Decision in Principle for asset finance can be instant, same-day, within 48–72 hours, or longer for complex cases.
– Speed depends on lender automation, asset type, documentation quality, valuation needs and credit profile.
– You can shorten waiting times by preparing documents, describing the asset clearly, and using a broker or introducer to target active lenders.
– Best Business Loans helps match your business to suitable lenders and brokers quickly via a free Quick Quote and eligibility check.
Clear, fair and compliant information
Best Business Loans is an independent introducer and does not provide loans or regulated financial advice.
We connect UK businesses to lenders or brokers who may provide Decisions in Principle and full offers.
Always check a lender’s full terms, fees and acceptance criteria before accepting any finance.
Ready to speed up your Decision in Principle? Submit a Quick Quote to check eligibility, get matched to lenders who specialise in asset finance, and receive targeted DIPs faster. [Get your free Quick Quote now]