Step 7: The Credit Manager's role
After receiving your application from your Barclays Business Manager, a Credit Manager will call upon years of experience in making a lending recommendation – so that your application decision is especially informed.
The Credit Team: who they are and how they make their decisions
The average experience level of a Credit Manager is 27 years. Most are former Barclays Business Managers, so they know they can rely on their colleagues to build applications based on their relationships with the customer and their experience of the local community.
The Credit Team receives a report from the Barclays Business Manager detailing the customer’s background, why the finance is required, how much it is for, how the business is performing, whether it is putting up any security and how it will afford the repayments.
Using their combined experience, the team then carries out its own analysis. If the Credit Team supports your application, your Barclays Business Manager will deliver the good news.
If the Credit Team is unable to support an application, they will work with the Barclays Business Manager to help you improve your chances of future success.
To find out what you can do if your finance is turned down, read The next steps: what to do if your finance application is not successful
Tips from the Credit Team: how to speed up a lending decision
South West based Credit Manager Giles Davies gives his tips on how to streamline the business lending process:
- Operate your bank account responsibly – don’t dip into the red or go over your overdraft limit as this could raise concerns about your ability to manage your cashflow.
- Keep trading accounts up-to-date – if there are any gaps in trading history this could raise questions.
- Consider a contingency plan – if a business can show us how they would go about raising the money if the lending is refused, it instils confidence and shows commitment.
Watch how Giles Davies was able to support one customer’s application in these real-life case study videos
8-step guide to a successful application
Existing Barclays customer?
View our range of loans online
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New to Barclays?
See our Business current accounts
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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