Once a lender approves your application, you receive the finance agreement to review and sign. When the signed documents are back and any conditions have been met, the lender releases the funds — usually straight to your supplier — and your first payment falls due on the date set out in the agreement.
Between approval and payout the lender may need a few final items: proof of identity and address, confirmation of your business bank account for the direct debit, an inspection or valuation on some assets, and evidence that the asset is insured. These conditions vary by lender and asset type.
Read the agreement before signing. It sets out the payment amount and dates, the term, what happens at the end, any charges including those for early settlement or late payment, and your rights to cancel or withdraw where they apply. If anything in it does not match what you were expecting, tell us before you sign, not after.
From payout onwards your agreement is with the lender, not with us. You will normally deal with the lender’s customer service team for statements, payment dates and settlement figures. You are still welcome to contact us if you are not sure who to speak to.