The engagement letter is our agreement with you. It sets out the work we'll do and our fees. When you sign it, you pay a retainer, which is credited in full against our success fee when your facility completes.
What the engagement letter covers
- the advisory work we'll do on your case
- our fees: the success fee and the retainer
- what happens if no lender offers you a facility
The retainer
- Paid on signing, set by your facility size: £500 up to £250,000, £1,500 up to £500,000, £2,500 up to £1 million, £3,500 up to £5 million, and £5,000 above that.
- Credited in full against the success fee at completion.
- The only fee you pay if no lender offers you a facility. See What if no lender offers me a facility?.
The success fee
Charged on our marginal-rate scale and payable only on drawdown. See How much does bizbritain charge for a business growth loan?.
Acquisitions
For acquisition finance, the engagement letter also sets out an abort fee, which can apply if a deal falls through after lenders have made credit-approved offers. See the commission policy.
Facilities up to £100,000
We check Start Up Loan eligibility first. If you're eligible, there's no engagement letter or fee. See I need less than £100,000. Should I get a Start Up Loan instead?.
Last reviewed: 8 October 2026