What the Key Information Sheet (KIS) shows

Q: What the Key Information Sheet (KIS) shows

When we can lend, your offer comes with a Key Information Sheet, or KIS. It is a short, plain summary of the headline terms, designed so you can take in the whole deal at a glance before you commit. It is not the full agreement — it is the at-a-glance version of it. What is on it The headline terms a KIS sets out Item What it shows Amount offered The principal we can advance to your company. Term How long you have to repay, and how the repayments are spread. Daily interest rate The rate charged on the outstanding balance, shown per day. Total amount payable The all-in figure you would repay over the term — the number that matters most. Offer valid until The date the offer expires, so you know how long you have to decide. When you get it You see the figures when you receive your offer, and the signed Business Loan Agreement and KIS are made available immediately after you accept. An offer is typically valid for 14 days, so there is no rush to decide on the spot. KIS, statement and settlement figure — three different things The KIS summarises the deal before you sign. The statement of account tracks the loan while it runs. A settlement figure is the exact amount to clear it in full today. Each answers a different question. The point of the KIS is consumer-understanding done properly: no figure in your agreement is a surprise, because you have already seen it summarised. For how an offer is reached, see what information goes into a lending decision. Because this is lending to a company for business purposes, it sits outside FCA consumer-credit regulation under Article 60B FSMA RAO 2001 and is not covered by the Financial Ombudsman Service or the FSCS.

Question

Accepted Answer

When we can lend, your offer comes with a Key Information Sheet, or KIS. It is a short, plain summary of the headline terms, designed so you can take in the whole deal at a glance before you commit. It is not the full agreement — it is the at-a-glance version of it.

What is on it

The headline terms a KIS sets out
Item	What it shows
Amount offered	The principal we can advance to your company.
Term	How long you have to repay, and how the repayments are spread.
Daily interest rate	The rate charged on the outstanding balance, shown per day.
Total amount payable	The all-in figure you would repay over the term — the number that matters most.
Offer valid until	The date the offer expires, so you know how long you have to decide.

When you get it

You see the figures when you receive your offer, and the signed Business Loan Agreement and KIS are made available immediately after you accept. An offer is typically valid for 14 days, so there is no rush to decide on the spot.

KIS, statement and settlement figure — three different things

The KIS summarises the deal before you sign. The statement of account tracks the loan while it runs. A settlement figure is the exact amount to clear it in full today. Each answers a different question.

The point of the KIS is consumer-understanding done properly: no figure in your agreement is a surprise, because you have already seen it summarised. For how an offer is reached, see what information goes into a lending decision. Because this is lending to a company for business purposes, it sits outside FCA consumer-credit regulation under Article 60B FSMA RAO 2001 and is not covered by the Financial Ombudsman Service or the FSCS.

See also: Can I get a statement for a custom date range?, Can I get my loan documents in large print or another format?, How do I find an old statement in my history?.