5 minutes Documents and Verification
Overview
To process your payment-linked advance application, SAPI needs several documents to verify your business identity, assess creditworthiness, and comply with regulatory requirements. This guide provides a complete checklist of what you'll need to prepare.
Application Stage Documents
Business Registration Documents
For Limited Companies:
- Certificate of Incorporation (from Companies House)
- Proof of business address (utility bill, lease agreement, or business rates bill dated within 3 months)
For Sole Traders:
- Self-Assessment tax return (most recent year)
- UTR (Unique Taxpayer Reference) confirmation
- Proof of business address (if different from home address)
For Partnerships:
- Partnership agreement (if formal partnership)
- Partners' details (names, addresses, ownership percentages)
Bank Statements
Business bank account statements:
- Last 3-6 months (minimum 3 months, prefer 6)
- Must show:
- Daily transactions
- Payments received from your payment processor
- Business name on the account
- Sort code and account number
Format:
- PDF downloaded from your online banking
- Clear and readable (no redactions except on non-business accounts if shown)
Why we need them:
To verify your payment processor settlements match Open Banking data and assess overall business cash flow.
Payment Processing Statements
If unable to connect via Open Banking:
- Last 3-6 months of payment processor statements
- From: Stripe, Square, SumUp, Worldpay, etc.
- Must show:
- Daily transaction volumes
- Total sales per period
- Refunds and chargebacks
- Payout schedule
Format:
- PDF or CSV export from your payment processor dashboard
- Month-by-month breakdown preferred
Personal Identification (Directors/Owners)
For each director or beneficial owner (>25% ownership):
Photo ID (one of):
- UK/EU passport
- UK driving licence (photocard)
- National ID card (EU/EEA)
Must be:
- In date (not expired)
- Clear, readable photo or scan
- Shows full name, date of birth, photo
Proof of residential address (one of):
- Utility bill (gas, electric, water—dated within 3 months)
- Council tax bill (current year)
- Bank statement (personal account, dated within 3 months)
- HMRC letter or tax document (dated within 3 months)
Cannot be:
- Mobile phone bills
- Insurance documents
- Letters from SAPI or other lenders
Additional Documents (May Be Required)
Depending on your business and circumstances, SAPI may request:
Trading History Documents
Invoices (samples from recent months, if B2B business)
Sales records (POS reports, e-commerce platform reports)
VAT returns (if VAT registered)
Business Financial Documents
Management accounts (profit & loss, balance sheet for current year)
Accountant-prepared financials (if available)
Tax returns (business tax returns for last 1-2 years)
Lease or Property Documents
Business premises lease agreement
Commercial mortgage documents (if you own your premises)
Landlord reference (if recently relocated)
Licensing and Compliance
For regulated industries:
- Business licenses (alcohol, food hygiene, taxi, etc.)
- Professional certifications (if applicable)
- Insurance certificates (public liability, professional indemnity)
Additional Due Diligence (EDD)
For higher-risk applications or larger advances (£100k+):
- Source of wealth documentation
- Business plan or expansion plans
- Customer contracts (major contracts or agreements)
- Supplier agreements (for wholesale/retail businesses)
Document Quality Requirements
Must Be:
Readable
Clear, high-resolution scans or photos. No blurry, dark, or cut-off documents.
Complete
All pages included. If a bank statement is 5 pages, submit all 5 pages.
Recent
Within the specified timeframe (usually 3 months for proof of address, 3-6 months for bank statements).
Unaltered
No editing, whiting-out, or modifications. Redact other accounts if necessary, but clearly mark redactions.
Accepted Formats:
PDF (preferred)
JPG/JPEG (for photos of documents)
PNG
Maximum file size: 10 MB per document
Multiple files: Can upload multiple documents in one submission
Not Accepted:
Screenshots (too low quality)
Word documents or Excel files (submit source documents as PDF)
Handwritten notes (unless official documents like partnership agreements)
How to Submit Documents
Via Email
Email to: [email protected]
Subject: "Application Documents - [Your Business Name]"
Include: Your application reference number (if provided)
Attach:
- All required documents
- Name files clearly (e.g., "CompanyName_BankStatement_Oct2025.pdf")
Via Secure Upload Link
If SAPI provides a secure upload link (via email):
1. Click the link
2. Select files to upload
3. Confirm upload
4. Receive confirmation email
Link validity: Usually 7 days
By Post (If Required)
Send to:
SAPI Group Limited
Senna Building, Gorsuch Place
London E2 8JF
United Kingdom
Mark envelope: "Application Documents - [Your Business Name]"
Include: Cover letter with your application reference and list of enclosed documents
Note: Postal submissions delay processing by 5-7 business days.
Timeline After Submission
Document review: 24-48 hours (business days)
Possible outcomes:
- Approved: Application proceeds to offer stage
- More documents needed: SAPI requests clarification or additional docs
- Declined: Application does not meet criteria
No response after 3 days?
Contact [email protected] or +44 20 3868 4990 to confirm documents were received.
Document Checklist
Before submitting, ensure you have:
Required for all applications:
- [ ] Business registration (Certificate of Incorporation or UTR)
- [ ] Business bank statements (3 months minimum)
- [ ] Photo ID for all directors/owners (>25% ownership)
- [ ] Proof of address for all directors/owners
Required if not using Open Banking:
- [ ] Payment processor statements (3-6 months)
May be required:
- [ ] VAT returns (if VAT registered)
- [ ] Business licenses (if applicable)
- [ ] Lease or property documents
- [ ] Financial statements (for larger advances)
Frequently Asked Questions
Q: Why do you need so many documents?
A: UK anti-money laundering (AML) regulations require us to verify business identity and assess creditworthiness. This protects both SAPI and legitimate businesses from fraud.
Q: Can I upload documents before applying?
A: It's best to apply first, then upload documents when requested. This ensures we ask for only what's needed for your specific application.
Q: I'm a sole trader using my home address—do I still need separate proof of business address?
A: No. Your personal proof of address serves as both personal and business address proof.
Q: My business is brand new (2-3 months old)—what if I don't have 6 months of bank statements?
A: Provide what you have. SAPI may accept shorter trading history if your payment processing volume is strong. Explain your circumstances when applying.
Q: Can I redact other bank accounts or personal transactions on my business bank statement?
A: Yes, but clearly mark redacted areas (e.g., black boxes with "REDACTED - Personal Account"). Don't redact business transactions—we need to see all business activity.
Q: My business partner is overseas—can they send ID from abroad?
A: Yes. We accept passports and national IDs from any country. Proof of address must be translated to English if in another language.
Q: How long do you keep my documents?
A: SAPI retains documents for 6-7 years after your account closes, as required by UK financial regulations. After that, documents are securely destroyed.
Q: Can I email documents to a specific person at SAPI?
A: Email [email protected] (general inbox monitored by underwriting team). If you've been assigned a specific underwriter, you can email them directly.
Need Help?
Document questions: [email protected]
Upload issues: +44 20 3868 4990
What documents to provide: [email protected]
Privacy concerns: [email protected]
Need Help?
Email: [email protected]
Phone: +44 20 3868 4990
Business Hours: Monday-Friday, 9am-5pm GMT