Am I Eligible

UK Business Loans - Am I Eligible

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?

  • cashflow
  • 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

 

Get a no obligation Quote? Want to learn more about our Business Loan service? Our team of experienced consultants are on hand to guide you through the process and answer your questions. Call 0333 939 8677