What happens at the completion stage of a

2 min read

SignedAgreement executed

Conditions metAll cleared

Facility liveReady to draw

Same dayUnsecured funds

What completion means

Completion is when everything comes together: you have signed the facility letter, all conditions precedent are satisfied, and the loan legally exists. From this moment the facility is live and drawable. For an unsecured loan, completion and drawdown often happen minutes apart.

Secured completions

Where security is involved, completion is a bigger event: a solicitor registers the charge, any guarantees are executed, and legal formalities finish before funds release. This adds days, which is why secured deals run to 3–10 days rather than same-day. Budget for this in your timing.

After completion

Once complete, you draw the funds and the repayment schedule begins from the first drawdown. Set up the repayment mechanism straight away and diarise the dates — the repayment calculator gives you the full schedule. See when the money lands for the drawdown timing detail.

Frequently asked questions

Is completion the same as drawdown?

Closely linked but not identical. Completion makes the facility live; drawdown is the funds moving. On unsecured deals they are near-simultaneous; on secured deals completion (legal work) precedes drawdown.

What can delay completion?

Unmet conditions precedent — a missing signature, an unregistered charge, an outstanding valuation. Clearing every condition before the completion date keeps it on schedule.