Applying

Can I apply if I want the funds for more than one purpose?

Yes. A single loan can cover more than one business need — some stock and a supplier bill, say. You do not need a separate application for each cost. Describe the main purpose clearly, and as long as it is all genuinely for the business, a mixed purpose is fine.

Describing a mixed purpose

Give the primary reason and note the others plainly — "stock plus a supplier payment", for instance. The point is that we can see the borrowing is for the business, not personal spending — what counts as a business purpose and how much detail about what the money is for.

One loan, or a reusable limit?

If the "several purposes" keep recurring, a reusable Flex limit may suit better than a one-off loan — you draw for whatever comes up, when it comes up.

Size it to the total

Add the needs up, then check the total sits within what the business can afford — does applying for a larger amount make a decline more likely. Model the combined figure at Credicorp Tools.

Apply for the whole need in one go.

We lend only to UK limited companies and LLPs, the loan is to the company with no director personal guarantee, and this is business finance outside the consumer-credit regime — as an exempt lender under Article 60B of the Regulated Activities Order we sit outside FCA consumer-credit regulation, so the Financial Ombudsman Service and FSCS do not apply.

See also: What counts as a business purpose?, How do I know whether Flex or a one-off loan is the right thing to apply for?, How much detail do you need about what the money is for?.

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