Question 1

Will I be pressured to proceed?

Accepted Answer

No. Submitting an enquiry does not commit you to accepting finance. Where your enquiry meets the initial criteria, Verity may pass it to a funding provider for review and contact. You can review any proposed amount, costs, repayment structure and conditions before deciding whether to proceed. Verity does not pressure businesses to accept funding.

Question 2

Are you the lender?

Accepted Answer

No. Verity Funding Ltd is a commercial finance introducer, not a lender. We collect initial enquiry information and, where the initial criteria are met, pass it to an independent funding provider. The funding provider is responsible for the assessment, affordability checks, terms and funding decision.

Question 3

Does submitting an enquiry mean funding has been approved?

Accepted Answer

No. Submitting an enquiry is not the same as receiving funding approval. It allows Verity to check whether your business meets the initial criteria. Where it does, your details may be passed to a funding provider for assessment. Any offer, decline, terms or funding decision will come from that provider.

Question 4

What happens after I submit an enquiry?

Accepted Answer

Verity first checks the information you provide against the initial criteria. Where your enquiry meets those criteria, it may be sent to a funding provider for review. The provider may contact you to discuss your business, funding purpose and any additional information they require. Any funding decision or proposed terms will come directly from the provider.

Question 5

How quickly might a funding provider respond?

Accepted Answer

Response times vary depending on the provider, the complexity of your enquiry and whether further information is needed. Providing clear information about your business, revenue, funding amount and intended use can help the process move more efficiently. Verity cannot control or assure a funding provider’s response time or decision.

Question 6

What happens if my business does not meet the initial criteria?

Accepted Answer

Your enquiry may not be passed to a funding provider through Verity’s current route. You may receive a message explaining that the business does not currently meet the initial criteria. This does not mean the business could never access finance elsewhere, but the enquiry may not be suitable for Verity’s current funding partners.

Question 7

Can the initial response change after assessment?

Accepted Answer

Yes. An initial or conditional response can change after the funding provider reviews further information. The final amount, costs, repayment structure, conditions or decision may differ from an early indication. Funding remains subject to the provider’s full assessment, affordability checks, criteria and terms.

Question 8

Does Verity give financial, legal or tax advice?

Accepted Answer

No. Verity Funding Ltd does not provide financial, legal or tax advice or recommend whether you should accept a facility. Our role is limited to collecting initial enquiry information and introducing suitable enquiries to a funding provider. You should seek independent professional advice where you are unsure about the suitability of any funding arrangement.

Question 9

Can sole traders or partnerships enquire?

Accepted Answer

Yes. Verity can accept enquiries from limited companies, LLPs, sole traders and partnerships. The business must still meet the initial criteria, and any funding will remain subject to the funding provider’s assessment, affordability checks, criteria and terms.

Question 10

Can I enquire if my business already has finance?

Accepted Answer

Yes. Having existing business finance does not automatically prevent you from submitting an enquiry. The funding provider will need to understand your current commitments, repayment pressure and overall affordability. You should provide accurate details of any existing facilities so the provider can assess the enquiry properly.

Question 11

Can I enquire after being declined by a bank?

Accepted Answer

Yes. A previous bank decline does not automatically prevent you from submitting an enquiry through Verity. A funding provider will consider the business’s current circumstances, including trading history, revenue, funding purpose, existing commitments and affordability. A previous decline does not assure that another provider will approve the enquiry.

Question 12

What can short-term business funding be used for?

Accepted Answer

Short-term business funding is generally used for a clear commercial or working-capital purpose. Common uses include VAT or HMRC payments, payroll, stock, supplier costs, equipment, contract delivery, seasonal pressure, cash flow gaps and growth costs. The funding provider will review the proposed use as part of its assessment.

Question 13

What businesses may not be suitable?

Accepted Answer

Verity is designed for active UK trading businesses with a clear short-term commercial funding requirement. An enquiry may not be suitable where the business has traded for less than four months, does not meet the initial revenue criteria, has no clear funding purpose, is seeking long-term investment capital or operates in a restricted sector. Restricted sectors currently include gambling, crypto and used car sales, unless confirmed otherwise by a provider.

Question 14

Will this affect my credit score?

Accepted Answer

Submitting an enquiry to Verity does not automatically mean a credit check has been completed. Where your enquiry is passed to a funding provider, that provider may carry out checks as part of its assessment. It should explain what checks are required, when they may happen and what they mean before you proceed further.

Question 15

Are there any hidden fees or upfront costs?

Accepted Answer

Verity does not charge businesses an upfront fee to submit a funding enquiry. Where a funding provider can consider your business, it will explain the proposed costs, repayments, conditions and other terms. You should review the full information carefully before accepting any facility. Verity does not set the provider’s interest rates, fees or repayment terms.

Question 16

Is funding assured if I meet the initial criteria?

Accepted Answer

No. Meeting the initial criteria only means your enquiry may be suitable for funding provider review. It does not confirm approval, affordability or the terms that may be offered. The funding provider will complete its own assessment and may request further information before making a decision.

Question 17

What information might the funding provider ask for?

Accepted Answer

A funding provider may ask for information about your business structure, industry, trading history, revenue, funding amount, intended use and existing finance. It may also ask about the urgency of the requirement, recent bank declines and business bank activity. The exact information required will depend on the provider and the nature of the enquiry.

Question 18

Will I need to provide bank statements or Open Banking?

Accepted Answer

Possibly. A funding provider may request business bank statements or Open Banking access as part of its assessment. This can help the provider understand the business’s trading activity, cash flow and affordability. Any request will come from the funding provider, as Verity does not carry out the funding assessment itself.

Question 19

Will repayment terms be daily, weekly or monthly?

Accepted Answer

Repayment schedules vary by provider, facility and business circumstances. Some short-term facilities may involve daily or weekly repayments, while others may use a different structure. The funding provider should explain the repayment frequency, total cost, term and conditions before you decide whether to proceed.

Question 20

Will I need to provide a personal guarantee?

Accepted Answer

A personal guarantee may be required, depending on the funding provider, type of facility and outcome of the assessment. Where one is required, the provider should clearly explain the guarantee, who is giving it and what it could mean before you decide whether to proceed. Verity does not set personal guarantee requirements.

Question 21

Will security be taken over business assets?

Accepted Answer

Some funding facilities may require security over business assets, while others may not. The requirements will depend on the provider, the facility and the business circumstances. Where security is required, the provider should explain what assets are involved, what the security means and what you should review before proceeding.

Question 22

What should I review before accepting any facility?

Accepted Answer

Review the complete funding terms before accepting any facility. This should include the funding amount, total cost, repayment frequency, repayment term, fees, conditions, personal guarantee requirements, security and the consequences of missed payments. You should also consider whether the repayments remain affordable for the business. Verity does not advise whether you should accept a facility.

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