If the company is refinancing — moving the borrowing to a new lender who will pay us off — that lender needs clear evidence of what is owed and what it will cost to clear. Two documents cover it.
A recent statement for the picture
Give the new lender a recent statement so they can see the facility, the balance and the payment history. It shows them the shape of the borrowing they are taking on. See how to download your statement as a PDF and is my statement an official document.
A settlement figure for the exact payoff
To actually clear us, the new lender needs the exact settlement figure valid to the payoff date — the statement balance alone will not close the account. Request one and pass it on, watching the validity date. See requesting a settlement figure and why the statement balance differs from a settlement figure.
Share it securely
These are company financial documents, so send them through the new lender's secure portal rather than open email. See how to share a statement securely. Check first whether refinancing early triggers any settlement charge — see does early settlement save money.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance arranged outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or the FSCS, though you can still raise a complaint with us and we will handle it fairly.
See also: Requesting a settlement figure for your loan, Proving your loan balance to a third party, How to share a statement securely.