Question 1

Am I eligible?

Accepted Answer

Our loans are available to all business types registered in England and Wales.

Question 2

Do I need to be a homeowner?

Accepted Answer

Yes, at least one of the Directors of the company must be a homeowner with sufficient equity available to support the loan request.

Question 3

Will my credit score be affected if I apply?

Accepted Answer

Checking your eligibility for a Rivers loan will not impact any credit scores, however you may need to consent to a credit check as part of your detailed loan application.

Question 4

How long do I have to have been trading for?

Accepted Answer

Your business must have been trading for a minimum of three months.

Question 5

Do I need to give my personal guarantee?

Accepted Answer

Yes, all Directors are required to give their personal guarantee.

Question 6

Once I receive a quote am I obligated to take it?

Accepted Answer

There is no obligation to take a quote once you receive it.

Question 7

Are your loans offered on an unsecured basis?

Accepted Answer

Our loans are offered on an unsecured basis. The only requirement is for all Directors to provide a personal guarantee.

Question 8

What are the timescales for applying?

Accepted Answer

Once we have all the information we need from you, our experienced underwriters will review your application and respond within 48 hours (excluding weekends and bank holidays).

Question 9

What types of repayment options are available?

Accepted Answer

Our Cash Flow Solutions Loan is repayable every 14 days. Our Business Growth Funding Loan has a monthly repayment schedule.

Question 10

Can I only apply for certain purposes?

Accepted Answer

We will consider all loan purposes.

Question 11

How much do your loans cost?

Accepted Answer

For all our loans there is an arrangement fee, which we can consider adding to your total loan amount upon request.

Question 12

How long can I borrow the funding for?

Accepted Answer

Our Cash Flow Solutions Loans are available for between three and 12 months. Our Business Growth Funding Loans are available between 24 and 60 months.

Question 13

Am I able to repay early?

Accepted Answer

There are no early repayment penalties for loans.

Question 14

What documents do I need to support my application?

Accepted Answer

We require the last six months of consecutive business bank statements along with your latest full year end financial accounts.

Question 15

How will I know if I have been approved for my loan?

Accepted Answer

Once your loan is approved, your dedicated Business Finance Specialist will contact you with the full details of the approval.

Question 16

Am I able to discuss my application with a human being?

Accepted Answer

Our dedicated Business Finance Specialists are on hand to discuss any questions you have on your loan.

Question 17

If my application is unsuccessful, how long do I have to wait before re-applying?

Accepted Answer

Should your loan not be approved, you are welcome to re-apply at a later date.

Question 18

How are my loan documents sent to me?

Accepted Answer

All loan documentation will be sent to you digitally with e-signature capabilities.

Question 19

Is there a cooling off period?

Accepted Answer

There is no cooling off period, however you are under no obligation to take a quote once you receive it.

Question 20

How long is my loan approval valid for?

Accepted Answer

Your loan approval is valid for seven working days for the Cash Flow Solutions Loan and 60 days for the Business Growth Funding Loan.

Question 21

Once all loan paperwork is signed, how quickly will I receive my loan?

Accepted Answer

Once your loan is approved and all paperwork and ID procedures are complete, you will have funds in your account within 48 hours (excluding weekends and bank holidays).

Question 22

Can I renew my loan?

Accepted Answer

Yes, our Cash Flow Solutions Loans can be renewed once 50% of your original loan has been repaid.

Frequently ask questions

We have responded to your most frequently asked questions to help make your Rivers experience even easier