What’s the difference: quick quote vs decision in principle?

Understanding the difference helps you choose which you need first.

Quick quote (indicative)

• Fast: often provided within hours of your enquiry.
• Indicative: a likely rate, term and repayment range based on the information you give.
• Low friction: usually no in-depth checks or documentation required.
• Good for initial budgeting, comparing options and deciding whether to proceed.

Decision in principle (DIP)

• More formal: a preliminary underwriting response from a lender or broker.
• Greater confidence: shows a lender is prepared in principle to lend subject to full checks and documentation.
• May involve a soft credit search or more detailed checks; some lenders use hard searches for certain products.
• Often needed for commercial property offers, larger development or construction finance, or when you want to show sellers/agents you have finance agreed in principle.

In short: a quick quote tells you “what it could cost”; a DIP tells you “who’s prepared to back you in principle”.

Can you request both via UK Business Loans?

Yes — in most commercial finance cases we can help you obtain both a quick quote and a DIP. Our role is to match your enquiry to lenders and brokers who specialise in the type of commercial finance you need. The actual availability of a DIP depends on the lender or broker selected and the type and size of finance sought.

Typical flow:

1. You submit a short enquiry (it’s free and not an application).
2. We match you to one or more brokers/lenders suited to your sector and loan size.
3. One provider often issues a quick, indicative quote first so you can compare costs and terms.
4. If you need stronger confirmation (for example to support an offer on a commercial property), you or your matched broker can request a DIP.

Because commercial finance is varied, we always recommend asking for both where appropriate — a quick quote for speed and a DIP for negotiation confidence. Get a free eligibility check to begin.

How the process works for commercial finance

Below is a simple step-by-step guide to what happens after you contact UK Business Loans.

1. Submit a Quick Enquiry: basic business details, loan purpose, amount (we handle loans from around £10,000 upwards), turnover and time trading.
2. We match you: your details are sent to the most appropriate lenders and brokers for your needs.
3. Quick quote delivered: in many cases you’ll get an indicative quote within hours — a ballpark rate, term and fees.
4. Request DIP where needed: if you need formal confirmation, the broker or lender can run a DIP (soft check usually) and issue a decision in principle within hours to a few days depending on complexity.
5. Progress to full application: once you select a provider, they’ll request documentation and may perform hard credit searches at that stage.

Typical timescales

• Quick quote: a few hours to same day.
• DIP: often same day to a few days, depending on lender, complexity and required documentation.

When you should ask for a decision in principle

Ask for a DIP when you need stronger evidence of finance before taking action. Common scenarios include:

• Making an offer on commercial property — sellers and agents often expect proof of funding.
• Negotiating large development or construction finance where funders need to reserve capacity.
• Securing supplier contracts or putting down deposits where finance acceptance in principle strengthens your position.
• When multiple directors or complex security is involved and the lender requires an early review of creditworthiness.

Pros of getting a DIP early: improves credibility, speeds the offer process, flags potential issues sooner. Cons: can trigger credit checks in some cases; it’s usually wise to confirm whether a soft or hard search will be used before proceeding.

What information and documents are typically needed

For a quick quote, providers usually need only a minimal set of details. For a DIP they typically ask for more thorough information.

Quick quote (typical)

• Business name and contact details
• Type of finance required (e.g. commercial property, development, asset/plant)
• Loan amount range (from £10,000 upwards)
• Estimated turnover and years trading
• Basic details of proposed security (if any)

Decision in principle (typical)

• Management accounts or latest statutory accounts
• Details of the asset/property (value, lease, EPC if property-related)
• Details of directors and significant shareholders
• Outstanding liabilities and existing finance arrangements
• Projected costs and completion timelines for development finance

Providing accurate details speeds up both the quote and any DIP. If you’re unsure which documents are required, your matched broker will guide you.

Will a DIP affect my credit score?

Most commercial lenders and brokers use a soft credit search for a DIP — this does not show up as a formal enquiry on credit files and won’t affect your credit score. However, some lenders may require a hard search before issuing a firm offer or when progressing to a full application.

Before any credit check is carried out we or your broker will confirm whether the search will be soft or hard. If you’re concerned about credit impact, mention it in your enquiry and we’ll prioritise partners who use soft searches where possible.

Common exceptions and specialist cases

There are scenarios where a DIP may not be straightforward or might require extra steps:

• Highly specialist development or bridging finance: lenders may request full technical reports before a DIP.
• Large or complex transactions: institutional lenders often need more time and documentation.
• Unusual security structures: arrangements that require third-party consents (e.g. complicated leasehold issues) can extend DIP timescales.

If your case is specialist, we’ll match you to brokers with relevant experience so you get realistic expectations from the start.

For general commercial lending and common property transactions our panel typically handles quick quotes and DIPs efficiently.

Why use UK Business Loans for commercial finance?

UK Business Loans connects business owners and directors with lenders and brokers who understand commercial funding needs. Key benefits:

• Speed: quick matching and rapid indicative quotes.
• Choice: access to lenders and specialist brokers across construction, sustainability projects, commercial property and more.
• No cost to you: our enquiry service is free and non-binding.
• Clear next steps: we explain whether a DIP is recommended and what checks will be made.

We also cover a wide range of commercial finance types — for example, learn more about our commercial finance options for property and business investment on our commercial finance page: commercial finance.

Get a free eligibility check and see whether a quick quote and a DIP are appropriate for your case.

How to get started

Getting a quick quote and arranging a DIP through UK Business Loans is straightforward:

1. Click “Get Quote Now” and complete the short enquiry (takes around 2 minutes): Get Quote Now.
2. We match your request to suitable lenders and brokers.
3. Receive an indicative quick quote and discuss whether you require a DIP.
4. If you want to proceed, your broker arranges a DIP and guides the full application.

Free, no obligation. We only share details with selected partners who can help — you decide whether to proceed.

Frequently asked questions

Can I get a quick quote and a DIP at the same time?

Often yes. Providers commonly issue a quick quote first and then perform a DIP on request. Tell us on your enquiry that you want both.

How long before I get a response?

Quick quotes: often within hours during business hours. DIPs: anywhere from same day to a few days depending on complexity.

Is there any charge for a quote or a DIP?

Our matchmaking service is free. Lenders or brokers may charge fees later in the process — these will be made clear before you agree to proceed.

What loan sizes do you handle?

We typically arrange commercial finance from around £10,000 upwards. For larger, more complex deals we match you to specialist partners.