Am I Eligible for a UK Business Loan
All applicants need a minimum 2 years trading as a Ltd, LLP, Partnership or Sole Trader.
Key Eligibility Considerations
- We typically lend up to around 35% of annual turnover (flexibility if accounts are strong)
- We lend up to £50k for limited businesses with no home ownership. Property ownership required for all non-limited businesses
- Funds to benefit the applicant business, no borrowing through company A to transfer funds to company B
- Unable to lend where majority business ownership has changed in the last 12 months
What can I use the loan for?
- working capital
- business expansion/growth funding
- new hires and stock purchase
- tax payments
- trading premises refurbishment
- funding contracts
- asset purchasing inc soft and quirky
- mortgage deposit funding
- for anything else just ask us
What can't I use the loan for?
- refinance of personal debt
- lending to others
- unsecured property development
- money lenders/pawnbrokers
- fund change to majority ownership
- non profits/charities
- adult entertainment
- weapns manufacturers or sellers
- limited by guarantee businesses
What supporting documents do I need to provide?
- business bank statements covering last 3 months
- latest set of full filed accounts (including detailed profit and loss account and full balance sheet with accountant's notes)
- if last set of filed accounts are 16 months old or more we'll need a profit and loss and balance sheet for the next 12 month period