Many business owners still assume that securing a loan will take months of paperwork and waiting. In reality, with the right preparation and lender, funding can be arranged in a matter of days — sometimes even hours. Whether you’re restocking ahead of a busy season, hiring staff, or covering a tax bill, speed matters.
This guide is backed by the independent finance experts at Monmouth Group — a team that specialises in making business finance straightforward. From £10k to £10m, Monmouth Group matches companies across a wide range of sectors with the right funding, taking the stress out of business lending so owners can focus on running their business.
1. Know Your Funding Goal
Before you start any application, be crystal clear about how much you need and why. Are you purchasing equipment, bridging a cash-flow gap, funding VAT or tax liabilities, or investing in marketing? Having a specific purpose reassures lenders and helps them match you with the right product straight away.
2. Choose the Right Type of Finance
Not all loans are created equal. Term loans, working-capital facilities, asset finance, VAT/tax loans and other products are designed for different situations. Alternative lenders often offer more tailored products than traditional banks, which can cut down on back-and-forth questions and speed up the process.
- Term loans are the classic “fixed sum over a fixed period” product. They’re ideal for one-off investments such as new machinery, refurbishment or expansion. You borrow a set amount and repay it in regular instalments over an agreed term, which might be anywhere from one to five years.
- Working-capital or short-term loans help you bridge cash-flow gaps, pay tax or VAT bills, or cover unexpected costs. They tend to be smaller and shorter in duration (weeks to 18 months) and can be approved very quickly.
- Revolving credit facilities work like an overdraft for your business. You’re approved for a limit and can draw down funds as and when you need them, only paying interest on the money actually used. They’re useful for businesses with fluctuating cash flow.
- Asset finance or equipment leasing allows you to spread the cost of vehicles, machinery or technology over time. The asset itself often acts as security, so you don’t need to provide additional collateral.
- Invoice finance (factoring or discounting) is a way to unlock cash tied up in unpaid invoices. A lender advances a percentage of your invoice value immediately and is repaid once your customer pays.
- VAT or tax loans smooth out HMRC liabilities by allowing you to spread payments over a number of months instead of paying one large lump sum.
- Merchant cash advances suit retailers and hospitality businesses that take card payments. You receive a lump sum and then repay automatically as a small percentage of your daily card takings, so repayments rise and fall with your revenue.
By matching the type of finance to the reason you’re borrowing, you increase the chance of quick approval and ensure the repayments fit your cash-flow cycle.
3. Prepare Your Documents in Advance
Nothing slows an application down like missing paperwork. Having a clear, complete application package is one of the simplest ways to move your loan from “pending” to “approved.” Before you apply, pull together:
- Up-to-date management accounts – profit and loss, balance sheet and aged debtors/creditors reports give a snapshot of your business health.
- Cash-flow forecasts – show how the loan will be serviced and how it will affect your liquidity over the next 6–12 months.
- Bank statements – typically the last three to six months to demonstrate trading history and incoming revenue.
- Business plan or pitch deck (if relevant) – a concise summary of your business model, market opportunity and how you’ll use the funds.
- Proof of identity and address for directors/owners – passport, driving licence, utility bill, etc. for compliance with anti-money-laundering checks.
- Evidence of contracts or purchase orders – if you’re borrowing to fulfil a specific job or order, showing paperwork reassures lenders of repayment capacity.
- Up-to-date tax information – VAT registration certificate, PAYE reference, or HMRC statements can be needed for certain products.
4. Check Your Credit Profile & Strengthen Your Case
Even though perfect credit isn’t essential, it still helps to know where you stand. Review your business and personal credit reports for errors, and be ready to demonstrate revenue trends, signed customer contracts or purchase orders that prove resilience and growth potential.
The FCA’s SME credit guidance makes clear that lenders can consider factors beyond a score alone, so showing strong fundamentals can speed decisions.
5. Apply Through a Fast, Transparent Channel
Speed is one of the biggest advantages of coming to Monmouth Group. Because we have long-standing relationships with both traditional banks and technology-driven lenders, we can route your application through the channels most likely to approve you quickly. Our panel includes fintech-enabled providers that use automated checks, open-banking feeds and instant ID verification.
Instead of you chasing multiple banks, we liaise directly with the most suitable lender, handle their questions, and manage the full pay-out process until the funds land in your account. Many of our clients receive a decision within 48 hours of their first enquiry. Fast doesn’t mean careless: we maintain full transparency about offers and costs at every stage, so you can act quickly with confidence.
6. We Keep Everything Clear Before You Sign
Speed should never come at the expense of clarity. Monmouth Group for example have transparent practices in place to dictate how they work with lenders and disclose our commission model at every stage. We also ensure that you understand the total cost of borrowing, not just percentages. The Standards of Lending Practice, formally recognised by the Financial Conduct Authority, set out how SMEs should be treated. We make sure our panel lenders follow those principles, you can read more about them here.
7. We Stay With You After the Funds Arrive
Once the money lands in your account, our relationship doesn’t stop. We encourage clients to use the funds strategically, track ROI and keep up with repayments to strengthen their profile for future borrowing. Because we view every relationship as a long-term partnership, you’ll always have someone to call for your next stage of growth.
The Bottom Line
Getting a business loan doesn’t have to be slow or complicated — not when you have Monmouth Group guiding you. By understanding your goal, preparing your documents, matching you with the right finance and managing the pay-out process, we routinely help UK businesses secure the right funding within days rather than months.
If you’re ready to secure fast, fair funding for your business, speak with Monmouth Group today. Our independent experts will assess your situation, compare lenders on your behalf, and help you access the right finance — often within 48 hours.