You can apply, but a very new business bank account means there is less activity for us to read, which can shape the outcome. The account itself does not need to be old — but there needs to be enough genuine trading flowing through it for us to assess affordability.
Why account activity matters
Affordability comes from the pattern of money moving through the business account. A brand-new account with only a week or two of activity gives us little to go on, in the same way a brand-new company does. The more real trading history the account shows, the clearer the picture.
If an established company simply switched banks recently, that is common and fine — the trading history exists, just across two accounts. A short note or statements from the previous account can bridge the gap; see what documents we might ask you to provide and changing providers.
The requirement
The company needs its own UK business account in its own name — a personal account will not do. Which accounts connect is in which business bank accounts you can connect, and the connection itself in how the open banking connection works when i apply.
Apply once there is genuine activity to show.
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: Which business bank accounts you can connect?, Whether a newly formed company can apply, How does the Open Banking connection actually work when I apply?.