Step 6: Business Manager works with Credit Team
Your Barclays Business Manager handles your entire lending journey and is empowered to make lending decisions, but in certain circumstances, he or she will need to share your application with one of our regional Credit Teams.
So what does the Credit Team do?
Barclays Business Managers work together with one of the regional Credit Teams to take a closer look at certain applications. The Credit Team uses local knowledge to inform their recommendations. They also look at your business plans, forecasts and how you manage your bank account and trading accounts. If your application is unsuccessful, they provide pointers on how you can improve the likelihood of having an application approved in the future.
For more information, read The Credit Team: who they are and how they make their decisions
And what might a solicitor have to do with it?
If you are providing security to support your application, solicitors will help draw up the necessary legal agreement. You select your own solicitors and we will correspond with them until the proper legal papers are in place.
For further information on who does what and when in the finance approval process, 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