Frequently Asked Questions

Phoenix Commercial Finance was founded in 2022 with one mission in mind: to fix what was missing in the finance industry. Unlike many brokers who disappear once funding is released, we believe that’s where the real relationship begins. At Phoenix, we’re committed to providing long-term support—ensuring our clients are fully satisfied and receive continuous guidance even after the funds are in their account. Our promise? Exceptional service, every step of the way.

The lenders we work with are known for their speed—most decisions are made within 24 to 48 hours after we submit your completed application. Sometimes, additional documents may be required, which could extend the process slightly. But our strength lies in foresight. We proactively collect the right information in advance, streamlining the process. You’ll also have a dedicated account manager to support you at every stage. Our fastest turnaround? Just 12 minutes from first inquiry to funds in the account.

Yes, applying directly is an option—if you’re confident you meet their specific criteria. However, at Phoenix, we tailor the process to you. Every business is unique, and we leverage our network and experience to match you with the most suitable lender. Our team takes care of everything—from packaging your application to negotiating with lenders on your behalf—saving you time and letting you focus on what matters most: running your business.

We don’t charge our clients for our services. Instead, we’re paid a commission by the lender once your loan is approved—at no extra cost to you. In most cases, going through Phoenix won’t cost you more than applying directly. Our goal is your success, not hidden fees.

No, exploring funding options with Phoenix won’t harm your credit score. We always get your consent before any credit checks take place. Most lenders do require a credit check on you and your business to assess risk, but rest assured—we only share your details with lenders that are the right fit. We never submit your application blindly to every lender, protecting your credit and your time.

In many cases, especially for unsecured loans, lenders do request a Personal Guarantee, which means you’re personally liable if the business can’t repay the loan. That said, we understand this isn’t ideal for everyone. That’s why we also work with lenders who don’t require guarantees, and we’ve partnered with providers that offer Personal Guarantee insurance if needed. Talk to us—we’ll explore the best route together.

Management accounts are up-to-date financial reports—usually including a profit and loss statement and a balance sheet—that help track your business performance. They’re typically created by a business owner or bookkeeper and are essential for managing cash flow and future planning. Need assistance preparing them? Our team is here to help.

Interest rates vary depending on the lender, your business profile, and credit history. While we can’t always beat high-street banks on price—especially for secured loans or commercial mortgages—we provide faster decisions and more flexible lending options. Many of our lenders support businesses that traditional banks consider high-risk. And we’ll never recommend a loan you can’t comfortably repay.

Open Banking allows you to share your bank data directly with lenders to speed up the application process. It gives lenders a real-time view of your finances without the need to upload statements manually. Most importantly, it’s safe, FCA-regulated, and entirely under your control—you decide who sees your data and when access stops. It’s quick, secure, and efficient.