Our decision is about whether the finance is right for your company and whether the company can comfortably repay it. We look at the business as a whole rather than at any one figure in isolation.
What we consider
- How your company trades, based on Open Banking data or statements
- Business credit information held about the company
- Confirmation of the company and its officers at Companies House
- What the finance is for and whether the product suits that purpose
Responsible lending
We want finance to help your business, not stretch it. That means we may decline, or offer something different from what you asked for, if that is the more sensible outcome for the company. A considered decision protects both sides.
What we do not do
We do not take personal guarantees from directors, and we do not base the decision on directors' personal finances as security. The borrower is the company. We will explain the headline reasons behind a decision where we can.
Because this is business lending outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS. The rate, term and repayments in any offer are specific to your business and shown to you before you commit.
For the main inputs to a decision, see how Open Banking speeds up an application, what documents we may ask for and why an application may be declined.
See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.