Seven Loan Request Mistakes That Delay Approval and How to Avoid Them

1. A vague purpose of funds

Writing growth or general corporate purposes tells our credit team very little. State exactly what the money will fund and how much goes to each item. The use of proceeds field exists for this reason, for example: equipment USD 2,000,000, working capital USD 1,500,000, fees USD 100,000.

2. No clear repayment source

Every facility needs a credible way out. Say whether repayment comes from operating cash flow, an asset sale, contract receivables or refinancing, and support it with figures.

3. Inconsistent numbers

If the revenue in the loan request differs from the audited accounts, we will ask why. Use the same figures throughout, in USD, and note the exchange rate used if your accounts are in another currency.

4. Undisclosed existing debt

List all existing lenders, balances and maturities. Debt that surfaces later in due diligence raises questions about the rest of the submission.

5. Incomplete ownership information

We must identify every ultimate beneficial owner holding 25% or more. Complex group structures are fine, but provide a structure chart and full details.

6. An unrealistic timeline

A standard corporate facility takes nine to twelve weeks from submission to funding. If you need funds urgently, select the right urgency level in the Facility Request section and explain why. Contacting us three weeks before a deadline rarely ends well.

7. Missing or illegible documents

Upload clear, complete PDFs, including the auditor's opinion. Scanned pages that are unreadable or out of order add days to the review.

The simple fix

Take an hour before starting the loan request to gather your figures and documents. It is the most valuable hour in the entire financing process.