What happens after you enquire about a business loan?

Pressing “send” on a finance enquiry can feel like dropping a letter into the dark. Who reads it? Will your phone start ringing from ten numbers? Has something already happened to your credit file?

Here’s exactly what happens with us, in order.

Straight after you press send

Your enquiry goes to our lending team. That’s it. It is not:

• auctioned or sold to other lenders,
• sent to a panel of brokers,
• used to trigger a credit check.

So nothing happens to your credit file, and your phone stays quiet apart from us. If you’ve had a different experience elsewhere, our page on how lead farms work explains why.

The first call: what’s it like?

A real person reads your enquiry and calls you, generally during business hours. The call may come from a number you don’t recognise, so it’s worth answering unknown numbers for a day or so.

Expect a relaxed conversation rather than an interview. The lending specialist will:

1. Confirm the basics you entered: amount, purpose, structure, trading history.
2. Ask a few clarifying questions. For example, how turnover moves across the year, whether a property has an existing mortgage, or how a tax debt is being managed.
3. Explain your options honestly, including which ones are unlikely and why.
4. Outline what each option involves: security, documents, timing, and what the next step would be.

You don’t need documents on hand. It helps to have a rough idea of monthly turnover and any existing debts. Our page on questions lenders ask lists the common ones.

After the call: your decision

There’s no pressure to decide on the spot. You might:

• go ahead with the option discussed,
• take a day or two to talk to your partner, co-director or accountant,
• decide it’s not the right time, which is completely fine.

If you go ahead, you’ll receive a document list tailored to that option. Want a preview? Our paperwork checklist builder shows the likely list for your situation.

Assessment: when does the credit check happen?

Only now. Once you’ve chosen to proceed and sent your documents, the lender assesses the application. That usually includes a credit check on the relevant people: the sole trader, partners, or directors and guarantors. You’ll know whose file is being checked before it happens.

Stage	Credit check?	Documents?
Enquiry	No	No
First call	No	No
Decide to proceed	No	Document list provided
Assessment	Yes	Documents reviewed
Written terms	Already done	Loan documents to read and sign

If you’re worried about what that check will show, see will applying affect my credit score.

Written terms: read before you sign

If the assessment is successful, you receive the terms in writing. This is where you see the full details of the loan, including every cost. Read them properly, ask about anything unclear, and involve your accountant if you’d like a second opinion. Nothing is binding until you sign.

If you’d like to get the ball rolling, the enquiry takes about a minute.

What could slow things down?

Mostly avoidable things:

• a figure on the form that turns out to be quite different from the statements,
• a co-owner of the security property who wasn’t expecting to sign,
• documents sent in several goes,
• a tax debt or default that surfaces late.

Our guide to application form mistakes shows how to sidestep each.

What if the options aren’t right for me?

Then we’ll tell you, plainly. Sometimes the honest answer is that nothing fits right now, or that waiting a few months would open better options. When that happens, you’ll hear why, and usually what would change the picture: more trading history, lodging outstanding BAS, tidying up a tax debt, or separating business and personal banking. You won’t be pushed into something unsuitable, and you won’t find your details have been passed on to someone else instead.

Can someone else talk to you on my behalf?

Yes, with your permission. Many owners like their accountant, bookkeeper or business partner to join the call or follow up on documents. Just tell us who they are and what they can discuss. It’s your application, so you decide who’s involved. If you’d like to know more about what happens to your information along the way, our privacy policy explains it.

Illustrative example: one enquiry, one list

Illustrative only.

A printing business owner enquires on Thursday afternoon about $70k for a new press. The next morning he takes a call, hears two options and picks one. He sends everything on his document list in one batch. The lender then completes its assessment, including the credit check, and the written terms follow for him to review with his accountant before he signs.

Ready when you are

Now you know what happens next, there’s nothing mysterious about the first step. It takes about 60 seconds, there’s no credit check when you first enquire, and your details go to our team only rather than a queue of lenders. A real person calls you and explains everything in plain English.

Please take a moment to fill the form in accurately. The closer it is to reality, the fewer changes there are between that first call and the written terms.

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