Yes. If your locksmith business is registered as a UK limited company or LLP, you can apply for a business loan in the company's name. The facility sits on the company's balance sheet, not yours personally, which means your personal assets are not on the line.
What locksmith businesses typically use finance for
Locksmith companies most often draw on business finance to purchase or replace service vans, stock up on cylinder and lock inventory, invest in key-cutting and auto-transponder equipment, buy into a franchise or territory licence, or cover the upfront cost of an apprenticeship training scheme. Because much of this expenditure produces a return over months or years, a fixed-term loan rather than an overdraft is usually a better structural fit.
How the loan amount is assessed
We look at the trading history of the limited company, its filed accounts, bank turnover and ability to service the repayments from operating cash flow. A younger locksmith company with, say, eighteen months of trading can still qualify, though the indicative facility size will reflect the shorter track record. As an illustrative figure only and not a quote, a locksmith company turning over £120,000 per year might access a facility in the region of one to two months' revenue — the actual figure depends entirely on your company's position.
Speed and process for trade businesses
Locksmith businesses often need to move quickly — a new competitor enters the territory, a franchise opportunity has a deadline, or a van write-off demands an immediate replacement. Our application is designed for working directors: connect your business bank account or upload recent statements, and a decision can follow within one working day for straightforward applications.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: Can a glazing company get a business loan?, Business finance for pest control companies.