• Faster approval time as a business plan or cashflow forecasts is not required
• No asset-based guarantees are required as the contract will be the collateral
• Discount charge is only applied to the funds drawn
• You will be in control of the repayments and can re-use the funds as much as you like for the duration of the facility

Application Criteria

• A fully completed business loan application form and a payment of the Application Processing Fee.
• A cover letter detailing type/purpose of business and the reasons for applying for the facility.
• A full copy of the contract you wish to borrow against (must include payment terms and completion and payment dates).

For more details on what is required for a business loan/overdraft/contract finance application, please download the ‘Application Guide’ and Terms and Conditions below. 

Application Process

This process is likely to take 2-3 days depending on the details and completeness of the information provided.

Unsuccessful Applicants

A loan application may be declined for a variety of reasons. The Bank reserves the right to refuse or approve loans at its sole discretion, without the requirement to provide a reason for doing so.

Successful Applicants

A successful applicant will be notified by telephone, email or letter. 

Administration Fees

If your application is successful, you are required to pay an administration fee to the Bank for work carried out on your application. See the table below for the relevant admin and cancellation fees.