But how fast can you really get a business loan in the UK? The answer depends heavily on the type of lender you choose and how prepared you are before applying.
Below, we break down the typical timelines from traditional banks, alternative lenders, and fintech providers offering same day business loans, so you know exactly what to expect.
Traditional banks: 1–6 Weeks (sometimes longer)
High street banks are known for competitive rates, but speed is rarely their strong point. Expect:
Lengthy application forms
Document-heavy checks (accounts, forecasts, bank statements, business plans)
Multiple decision-making stages
Potential delays, especially if additional info is requested
Even with a strong credit profile, most bank loans take at least a week, with two to six weeks being much more common.
Alternative lenders: 24 - 72 Hours
Alternative lenders and non-bank finance providers bridge the gap between speed and flexibility when it comes to quick business loans. They typically offer:
Streamlined applications
Quick underwriting
More flexible criteria than banks
These lenders commonly approve applications within 1–2 days, with funds following soon after. Same Day Business Loans work with a panel of alternative lenders to bring you the cash you need, fast.
Fintech & same day business loan providers: minutes to 24 Hours
This is where things get fast, and what we do best.
Fintech lenders use automation, open banking, and real-time underwriting to deliver same day business loans - sometimes within hours.
Typical timeline:
Application: 5–10 minutes
Decision: Instant to 2 hours
Funds released: Same working day (often within 1 - 4 hours)
These lenders prioritise speed, simplicity, and digital processes. At Same Day Business Loans, we work with lenders offering instant decisions as a priority. Meaning you just have to complete one simple application, and we do the rest. Same funds, only faster.
What affects how fast you get funded?
Even with fast business funding options available, your timeline can vary. Speed depends on:
1. Your documents
Having bank statements ready (often 3 - 12 months) speeds things up.
2. Business banking setup
Open Banking authorisation allows lenders to assess your account instantly.
3. Your trading history
Lenders can fund same day even with short trading history, but longer-established businesses may receive faster decisions and higher loan amounts.
4. Time of application
Applying early in the day increases your chances of same day payout - especially for larger amounts.
5. Credit profile & affordability
Stronger applications move through underwriting more quickly.
What’s the fastest possible funding?
By using a funding platform like Same Day Business Loans, the fastest turnaround is:
Decision: Under 10 minutes
Funding: Under 1 hour
This applies mainly to smaller unsecured facilities and customers who can verify their data instantly.
At Same Day Business Loans, we specialise in helping UK businesses secure fast, flexible funding - often within just a few hours.
Whether you’re growing, stabilising cash flow, or jumping on a new opportunity, we’re here for you.