What should I do if my loan application is

2 min read

Check your sideFirst

ChaseWith reference

EscalateIf no answer

Walk awayIf unresponsive

Rule out your own side first

The most common cause of a stalled application is something the lender asked for and did not receive. Before you chase, confirm you have supplied every document and answered every query — the application checklist helps you check. If a document is missing, resolving that may be all it takes.

Chase effectively

Contact your named person, quote your application reference, and ask directly whether anything is outstanding and what the next step is. If you cannot get a straight answer, ask to escalate. A lender that cannot tell you where your file sits is itself a warning sign.

Know when to leave

If the promised timescale has blown out with no clear reason and no responsiveness, you are entitled to walk away and withdraw. A better-run lender may complete faster even after you restart. Compare alternatives on total cost with the repayment calculator before you commit elsewhere.

Frequently asked questions

How long is too long for a business loan?

It depends on the deal: an unsecured facility quoted at 24–72 hours running past a week warrants a firm chase; a secured deal legitimately takes days to weeks. Judge against the timescale the lender gave you.

Can I switch lenders mid-application?

Yes. Until you have drawn down you are not committed. If a lender is unresponsive, withdrawing and applying to a better-run one is a valid move — just avoid clustering hard searches.