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Frequently asked questions
Straight answers about how Smart Broker works, what it costs and what happens to your information.
What is Smart Broker?
Smart Broker is an online funding review from Smart Funding Solutions, a UK commercial finance broker. You tell us what you need, connect or upload your business information, and see which funding routes and lenders may fit. Our brokers then approach suitable lenders on your behalf. We are a credit broker, not a lender.
Does it cost anything?
It is free to start a funding review and there is no obligation to proceed. If a fee would apply to your case, we tell you before you go ahead. Lenders typically pay us a commission; the details are in How we are paid.
Will it affect my credit score?
Using Smart Broker to review your options does not run a credit search. Lenders may carry out credit and identity searches once you apply, and only after you have given your consent in the app.
Why do you ask me to connect Xero?
Connecting Xero lets us read your financial reports instead of asking you to upload them. The access is read-only, it is optional, and you can disconnect at any time. You can upload your accounts and bank statements instead.
How are the funding routes and lender matches worked out?
We compare what you have told us and your financial information with the published criteria of lenders on our panel, partly using automated analysis. The results are indicative. Each lender makes its own decision after its own checks.
Do you use AI?
Yes. AI helps read your documents, summarise your position and draft your funding summary, so your case is prepared faster. Nothing goes to a lender until you have confirmed your summary and given consent, and our brokers handle every lender approach.
What kinds of business can use Smart Broker?
UK limited companies, LLPs, partnerships and sole traders. Finance of £25,000 or less for sole traders and small partnerships can be regulated consumer credit. We will tell you at the outset if that applies to your business.
What documents will I need?
It depends on the type of funding. Our document checklist lists what lenders usually ask for.
Can I speak to someone?
Yes. You can book a call with a broker at any point from your dashboard, or contact us using the details on our contact and complaints page.
How do I delete my account or data?
Email us and we will deal with your request in line with our Privacy Policy. Some records must be kept for legal and regulatory reasons.