How can I give feedback about my business loan experience
Your feedback matters. Whether your business loan experience was smooth, frustrating, or somewhere in between, telling your lender and the right authorities what you think helps improve services for everyone. This guide explains how to share your experience, who to contact, and what happens next.
Why your feedback is important
When you give feedback about your business loan, you're not just venting - you're contributing to better practices across UK finance. Lenders use feedback to spot problems, improve their processes, and train staff. Regulators use it to spot patterns of poor practice. If something went wrong, your feedback might prevent it happening to another business owner.
- Improves service: Lenders take customer feedback seriously and often change processes based on what they hear
- Protects others: If a lender has systemic problems, complaints help regulators identify and tackle them
- Your right: As a borrower, you have a legal right to complain if you feel unfairly treated
- Creates accountability: Feedback holds lenders and brokers accountable for how they treat businesses
Positive feedback is just as valuable as complaints - it tells lenders what they're doing well.
Give feedback directly to your lender
Start with your lender. Most UK banks and finance companies have a complaints procedure, and giving them a chance to put things right is the first step.
- Timeline: Most lenders must acknowledge your complaint within 3 working days
- Investigation: They have up to 8 weeks to investigate and respond with a final decision
- Keep records: Save all emails, letters, loan documents, and notes of phone calls
- Be specific: Vague complaints are harder to investigate - give dates, names, and what was promised versus what happened
If the lender doesn't respond properly, or you're not satisfied with their answer, that's when you escalate.
Finding the right contact
Your loan agreement or the lender's website will list a customer service or complaints team. Look for a dedicated complaints email or phone number - this is separate from ordinary customer service.
How to make a complaint
Put your complaint in writing, ideally by email so you have a record. Include your loan reference number, the dates involved, what happened, how it affected your business, and what you'd like them to do about it. Keep copies of all correspondence.
Escalate to the Financial Conduct Authority
If your lender doesn't sort the problem, or you're unhappy with their response, you can complain to the Financial Conduct Authority (FCA). The FCA is the UK regulator for most financial services, including lenders and brokers.
- When to go to the FCA: After you've given the lender a chance to resolve it, or if they reject your complaint
- Time limit: You must complain to the FCA within 6 years of when the problem happened, but ideally soon after
- Free service: There's no fee to complain to the FCA
- How: Visit www.fca.org.uk/complaint or call 0800 111 6000
- What they do: The FCA will investigate whether the lender or broker broke rules, and can order compensation if they did
The FCA takes systemic problems seriously - if they find a pattern of complaints, they'll investigate the whole firm.
The FCA complaints process
When you complain to the FCA, they'll check whether your lender or broker is authorised and has broken FCA rules. They can order the firm to pay compensation, usually up to GBP 350,000 for a business with fewer than 10 staff, though this can be higher in some cases.
Use the Financial Ombudsman Service
The Financial Ombudsman Service (FOS) is independent and free. They can investigate complaints about lenders and brokers and award compensation if they find something went wrong.
- Who they cover: Most UK banks, building societies, and finance brokers are signed up to the FOS scheme
- When to use them: After you've complained to your lender and they've either rejected you or you're unhappy with their response
- Time limit: You have 6 years from the problem happening to complain, but within 3 years of finding out about it
- Cost: Free - the ombudsman doesn't charge you anything
- How to complain: Visit www.financial-ombudsman.org.uk or call 0300 123 9123
- Compensation: If they uphold your complaint, the ombudsman can award up to GBP 355,000
The ombudsman's role is to be fair to both sides - they'll investigate thoroughly and give a reasoned decision.
What the ombudsman can investigate
The FOS can look at whether your lender or broker treated you fairly, gave you accurate information, or handled a complaint properly. They can't overrule lender decisions on credit policy, but they can assess whether the process was fair and transparent.
Complain to your trade body or professional group
Depending on your lender or broker, there may be industry bodies you can complain to as well. These bodies set standards and investigate complaints from members.
- NACFB: National Association of Commercial Finance Brokers - if your broker is a member, they have a complaints code
- British Private Equity & Venture Capital Association: For specialist equity lenders
- Finance and Leasing Association: For invoice financing and asset-based lending
- Your lender's regulator: Some lenders are regulated by the Prudential Regulation Authority (PRA) as well as the FCA - you can complain to them too
Trade bodies can be faster than the FCA or ombudsman, and they understand industry standards well.
Leave public feedback and reviews
You can also share your experience publicly through reviews and ratings sites. This isn't a formal complaint process, but it does influence how potential borrowers choose a lender.
- Google reviews: Search the lender's name and look for the review section on Google Maps or their Google Business profile
- Trustpilot: Major UK lenders have Trustpilot pages where customers leave reviews
- Industry forums: Business owner forums and groups sometimes have discussion threads about lenders
- Be honest and factual: Stick to what actually happened - personal opinion is fine, but false statements could be defamatory
- This isn't a replacement for formal complaints: Public reviews won't get you compensation, but they do create pressure for lenders to improve
Many lenders monitor their online reputation closely and will contact you if they see negative feedback they want to address.
How Spark Finance can help
If you're considering a business loan or refinancing an existing one, Spark Finance can guide you through the process with transparency and support. As an FCA-authorised broker (FRN 958123), we work with over 100 lenders, so we can match you with options that fit your business. We explain terms clearly upfront, and we're regulated to treat you fairly. If you want to check whether you might qualify for a loan without affecting your credit file, we offer a free, no-obligation eligibility check with no credit search at that stage. If something does go wrong with a loan, we're here to help you understand your options, and we're subject to the same FCA and ombudsman oversight as any other lender or broker. Start by visiting www.sparkfinance.co.uk to learn more about how we work.
Ready to find out what's available?
FCA-authorised. 100+ lenders. No credit check at eligibility stage.
Frequently asked questions
How long does it take to get a response after I complain to my lender?
Your lender must acknowledge your complaint within 3 working days. They then have up to 8 weeks to investigate fully and give you a final decision. If they can't finish in 8 weeks, they should tell you when you can expect an answer.
Can I complain to the FCA and the ombudsman at the same time?
You can complain to both, but it's usually best to let your lender respond first, then go to the ombudsman if you're unhappy. The ombudsman will look at whether the FCA's rules were broken. The FCA investigates systemic problems across firms, whilst the ombudsman focuses on individual cases and compensation.
What if I complain about a broker as well as the lender?
You can complain to both your broker and lender if both were involved in the problem. Brokers are FCA-regulated and must follow the same complaints procedures. If your broker is part of the NACFB, you can also complain to them.
Is there a time limit for making a complaint?
You have up to 6 years from the event that caused the problem, but it's best to complain as soon as you notice something is wrong. The sooner you raise it, the easier it is to investigate and the fresher everyone's memory will be.
Important information: Spark Finance Limited is authorised and regulated by the Financial Conduct Authority (FRN 958123). We are a credit broker, not a lender. This guide is for informational purposes only and does not constitute financial advice. Think carefully before securing debts against property or assets. Your business may be at risk if you do not keep up repayments on a debt or other commitment entered into in relation to it.