Once you have received and accepted your offer for a GrowthLine, there are a few final steps before you can access your facility. 

Anti-Money Laundering (AML) checks

To satisfy our anti-money laundering compliance requirements, we will need to verify the identity of your director(s) and significant shareholder(s) (defined as owning more than 25% of the business). We will ask each of these people to provide:

  • Their full name.
  • Their current residential address.
  • Their date of birth.
  • A colour copy of either a passport or driving license.

Legal documents

Opening your account will require a legal agreement to be in place between your company and Growth Street. This will take the form of several documents, which include a GrowthLine Agreement, one or more forms of security, and possibly others. Your relationship manager will be able to let you know which documents will be required for your specific case.

We will need you to review and sign all documents regarding your facility before we are able to open your account. These will be sent securely to your email address for e-signature. Occasionally we may need to send you documents in the post for in-person signing, but this is not common.

Registering security

Once we have received the signed documents, our legal team will countersign the contracts and begin the process of registering the agreed security with Companies House. It can take up to 72 hours for Companies House to process our application, and until this is done, you may not be able to draw down funds.

How will you know when your GrowthLine is active?

Once you have completed the process above, your relationship manager will call you to let you know that your facility is live and walk you through your account. 

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