Step 5: Business Manager makes an initial decision
We want to say yes to your business finance application. Discover ways you can help us make a fast and positive finance decision.
After you submit your application, Barclays aims to respond to it within 24 hours, and in some cases we'll be in a position to move forward even sooner.
But – to ensure that we can arrive at a decision quickly – you should submit your application with all the documents on our application for finance checklist
Furthermore, we understand that there can be very good reasons why your business account may dip into the red or go over its agreed overdraft limit, but if it's a regular occurrence you'll need to tell us why in your application.
For help on how you can speed up a finance decision, read the tips from our Credit Team or speak to your Barclays Business Manager.
5 reasons we say yes
Barclays wants to provide businesses the finance they need to thrive. Here are 5 things you can do to help us say yes to your application:
- Stay in the black or within your overdraft limit on your business and personal accounts for at least 3 months before submitting an application. Read more on how to build a strong application
- Pay existing loans and credit cards on time – this shows us you’re reliable and likely to meet future credit payments.
- Provide up-to-date trading accounts that show your business has a strong sales and profits history. Read more on the documents you need to support your application
- Check your company's credit rating. Get a copy of your credit history to check it is accurate, settle any debts and ensure you are on the electoral register.
- Show personal commitment. Provide evidence of how much you have invested to date, as this proves you have a stake in the future success of your business.
If an application is unsuccessful, take a look at our guide on what you can do if your finance application is turned down or speak to your Barclays Business Manager.
8-step guide to a successful application
Step 1: Deciding on business finance
Step 3: Building your application
Step 4: Your application's assessment
Step 5: Business Manager makes an initial decision
Step 6: Business Manager works with Credit Team
Existing Barclays customer?
View our range of loans online
Apply for a loan with one of our consultants
New to Barclays?
See our Business current accounts
Apply online for a Business current account
1. Lines are open Monday to Friday, 8am–7pm. To maintain a quality service, we may monitor and record phone calls. Read our call charges and information
2. Lines open Monday to Friday, 8am–8pm. To maintain a quality service, we may monitor and record phone calls. Read our call charges and information
3. The Lending Code. Barclays Bank PLC is authorised and regulated by the Financial Services Authority ('FSA'). In respect of lending not regulated by the FSA under its Mortgage Conduct of Business sourcebook, Barclays Bank PLC subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. The Lending Code sets minimum standards of good practice when dealing with certain customers in the UK in relation to loans, current account overdrafts, charge cards and credit cards. Further details can be found at: Lending Standards Board