How Quickly Can Spark Finance Arrange a Business Loan?
Finn Murphy
Relationship Manager · Sep 15, 2024 · 5 min read
Most unsecured business loans arranged through Spark Finance fund within 24 to 72 hours of a completed application. Secured lending and structured facilities take longer. Here is what determines speed and how we make the process as fast as possible.
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Timescales by product
Unsecured business loans (fintech lenders): same day to 48 hours. The fastest lenders on our panel have automated underwriting systems that return decisions within minutes and fund the same day for applications submitted before midday. Unsecured loans (relationship lenders): 2 to 5 working days. More manual process but can offer higher amounts and more flexible terms.
Secured business loans: 4 to 8 weeks. Legal charge registration takes time regardless of how fast the lender moves. Invoice finance facility setup: 5 to 10 working days. Once set up, individual invoice advances take 24 hours. Asset finance: typically 2 to 5 working days from application to supplier payment.
How Spark Finance speeds up the process
We review your documents before submission to ensure they meet lender requirements. A document package that is incomplete or unclear leads to back-and-forth requests that can add days. We submit packages to the right lenders for your profile rather than to the full panel, which means lenders who receive your application are more likely to approve it quickly.
We maintain active lender relationships and know which lenders are moving fast on a given week. We chase for decisions proactively rather than waiting for lenders to respond in their own time. For urgent applications, we can call underwriters directly to expedite decisions.
"Speed comes from preparation and knowing who to call. The businesses that fund in 24 hours are the ones that have their documents ready and are working with a broker who knows which lender is moving fastest today."
- Finn Murphy, Relationship Manager
Frequently Asked Questions
What is the fastest Spark Finance has arranged a business loan?
Same-day funding is achievable for qualifying unsecured business loans submitted with complete documentation before midday. Most completed applications receive a decision within 24 hours and funds within 24 to 48 hours of the agreement being signed.
The bottom line
For urgent funding needs, contact Spark Finance directly or start an application at apply.sparkfinance.co.uk.
Check your eligibilityAbout the author
Finn Murphy
Relationship Manager
Finn is a Relationship Manager at Spark Finance focused on asset finance and equipment funding for UK businesses. He has placed hire purchase, finance lease, and operating lease facilities across construction, healthcare, and manufacturing sectors.
