Question 1

How much am I eligible for?

Accepted Answer

This will depend on a variety of factors and is case by case, however, after the initial free consultation call, we will have a good idea of how much you're likely to obtain.   The advantage of having such a diverse range of lenders on our panel with different risk appetites means that we can obtain funding for all different types of businesses in different financial positions and circumstances.

Question 2

Will this affect my credit rating?

Accepted Answer

Our lenders conduct soft searches and hard searches. For these to have any effect on your credit score, a large amount of applications would need to be submitted in a very short time frame.   We do not take this approach, we will only submit your application to the lenders we believe you have the highest chance of getting an approval rate, and discuss any credit issues before we send applications to underwriting.   We can certainly arrange for applications to not be sent to lenders that do hard searches should you wish.

Question 3

What is the fee or charge?

Accepted Answer

In most cases we will not charge you, we will only charge our lender partners a fee if your business is successfully funded. In some other rare cases, we will negotiate a fee directly with you and proceed only with your consent.   How much this fee is will depend on the lender, some lenders will take the fee out of the amount you are funded while others will not.  Our consulting service to see what your options are is completely free of charge, but please note we do not offer financial advice.

Question 4

How can I trust you?

Accepted Answer

Our industry is regulated by the FCA (Financial Conduct Authority) and we fully adhere to strict compliance guidelines and regulations in place.  We are a fully registered UK company and our experts would be more than happy to address any concerns you may have, we also have a TrustPilot page for your reassurance.

Question 5

How long will it take and how quickly can I get funding?

Accepted Answer

This will depend largely on how fast clients can get the necessary documents over to us so we can submit this to our partner lenders for approval.   Providing we have all the documents requested at the beginning of the process, funding can be obtained in less than 48 hours, and in some cases longer depending on the circumstances.

Question 6

What documents will I need to provide?

Accepted Answer

This will depend on the lenders we approach, some will need more than others but almost all lenders will ask for the following:   - Financial statements (such as profit and loss, balance sheets and in some rare cases cash flow statements).  -Last 3 - 6 months' bank statements.   - Any up-to-date management accounts i(i applicable).   - Last 4 VAT returns (If applicable).  -Form of ID such as Passport or Drivers Licence for KYC purposes and compliance with AML regulations.  We are happy to work directly with your accountant to obtain some of this information, provided we have your explicit consent.

Question 7

How can I  become a partner or introducer?

Accepted Answer

We collaborate with accounts and brokers, enhancing our already extensive panel and expertise, to provide funding solutions for client businesses.   Partnering with Prospera Funding offers the advantage of accessing a new financial resource and enables you to assist in funding your clients, facilitating their business growth.  For more information regarding our partnership programme, please email enquiries@prosperafunding.co.uk or fill in the contact form on the contact page of our website.