An existing Bounce Back Loan or similar government-backed facility does not automatically rule you out. It is treated like any other existing commitment: it shows in your cash flow and is factored into affordability, so what matters is whether the business can comfortably manage a new repayment on top.
How existing debt is weighed
We read your outgoings from the bank feed, and existing loan repayments are simply part of that outgoing picture. A manageable existing commitment alongside healthy cash flow is fine; too much already going out may mean a smaller offer or none. This is affordability in action.
The question is not "do you have other debt" but "is there room to service more comfortably". Keeping existing repayments in good order helps — struggling with them will show. See arrears elsewhere.
Borrowing responsibly on top
Taking on new short-term finance while carrying other debt should be a considered decision. Model the combined repayments at Credicorp Tools before you commit, and if things are already tight, see how we support customers in difficulty rather than over-borrow. Multiple facilities with us are covered in applying for a second loan while repaying the first.
Apply and we will assess the whole picture.
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: Can a company with arrears elsewhere still apply, Applying for a second loan while repaying the first, What does 'assessing affordability' actually mean?.