The borrowing entity must be a UK limited company or LLP registered at Companies House, but we do not require its directors or members to be UK residents or nationals. International directors, non-domiciled directors, or companies where the majority of directors are based abroad are all eligible to apply, provided the company itself has genuine UK trading substance.
What we mean by UK trading substance
A company incorporated at Companies House but with no real UK operations — no UK revenue, no UK employees, no UK bank account — would struggle to demonstrate a repayment source. We look for evidence that the company is genuinely active in the UK: a UK business bank account, HMRC registration (for VAT or corporation tax), UK-based customers or contracts, and operations or staff in the UK. The more of these that apply, the more straightforward the assessment.
Overseas-director practical requirements
- The facility agreement is signed on behalf of the UK company — overseas directors can sign electronically or via a UK-authorised signatory.
- We use Companies House records to verify director identity; overseas directors registered there do not face additional documentation hurdles beyond standard AML and KYC checks.
- A UK business bank account in the company's name is required for drawdown and repayment — this is a hard requirement regardless of director residency.
Companies wholly owned by overseas entities
A UK subsidiary of an overseas parent is treated as a UK company for our purposes. We assess the subsidiary's own UK financials; parent-company guarantees from overseas entities are not part of our standard structure and are not required or sought.
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 newly incorporated company apply for a business loan?, Can a UK subsidiary of an overseas parent company apply?.