Phoenix Commercial Finance was founded in 2022 amidst the COVID-19 pandemic when we saw good businesses being turned away, not for lack of potential, but for lack of support. Traditional lenders were tightening their criteria, and many brokers were simply focused on transactions rather than long-term relationships. We created Phoenix Commercial Finance to change that. Our mission is to provide businesses with the funding they need, backed by genuine guidance and ongoing support – even after the funds are in place. Because the relationship doesn’t end at completion - we pride ourselves on delivering exceptional service, going the extra mile to support our clients and resolve any issues - throughout the commercial loan process and beyond.
Most of the lenders we work with provide a decision within 24–48 hours of receiving a complete proposal. Occasionally, they may request additional information, which can add a day or two. We use our expertise to anticipate what lenders will ask for and collect it upfront, avoiding unnecessary delays. Plus, you’ll have a dedicated account manager supporting you every step of the way. Our record completion time is just 12 minutes from enquiry to funds hitting a client’s account.
Of course, you can apply directly with a lender if you’re confident you’ll be approved. However, working with a broker like Phoenix Commercial Finance means we use our expertise and strong lender relationships to match you with the lender best suited to your needs. Your dedicated account manager will package your deal and submit it on your behalf, knowing exactly what lenders are looking for. Our close ties with lenders also mean we can communicate directly and efficiently to keep things moving. This lets you focus on growing your business while we take care of the hard work.
The good news is our services are completely free. If your loan is approved by one of our lenders, they pay us a commission based on our standard terms. In most cases, the cost to you is the same as if you went directly to the lender.
Checking your funding options or speaking to one of our specialists will not affect your credit score. We always assess your requirements first and explain the process upfront. Most of the lenders we work with will need to carry out a credit check on you and your business before deciding and offering you a loan. We will always seek your permission before sharing your details for any credit check. Unlike some brokers, we don’t pass your details to every lender. Instead, we take the time to understand your needs and connect you only with the lenders best suited to your situation.
A personal guarantee is an agreement between you and the lender stating that you will be personally liable for the debt if your business defaults. It’s common for lenders to require a personal guarantee, especially for unsecured finance. We understand that not all clients are comfortable with this and that’s why we work with lenders who can offer finance without a personal guarantee, and we’ve also partnered with firms that provide personal guarantee insurance for added peace of mind.
Management accounts are financial statements that include a profit and loss report and a balance sheet. They show the most up-to-date picture of a business’s financial health and are typically prepared by the owner or bookkeeper to track growth. They’re also useful for managing cash flow and planning future spending.
We work with a wide range of lenders across the UK, and interest rates vary depending on the lender, the strength of your business, and your credit score. We believe in responsible funding and will only recommend finance you can afford. While high-street banks often offer the lowest rates on products like commercial mort-gages, secured loans, or invoice finance, their stricter criteria, lengthy processes, and ex-tensive paperwork mean they aren’t always suitable for every business. Our lenders are faster, more flexible, and can provide decisions quickly. We act as your relationship manager throughout, giving you a personal, hands-on service. Many of our lenders also support higher-risk businesses, helping them access funding to grow.
Open Banking is a secure way to share your financial data with lenders, giving you full control to switch access on or off. It allows lenders to assess your funding application quickly and saves you the hassle of downloading and sending bank statements manually. It’s considered very safe, as it’s fully regulated by the Financial Conduct Authority (FCA). Lenders are given view-only access and can only see the data necessary to provide the service you’ve requested.