We focus on recent, real trading activity rather than insisting on a fixed number of years in business. The aim is to understand how your company or LLP trades today and whether the borrowing makes sense for you.
Recent activity matters most
The most useful picture comes from how money has been moving through your business lately. That tells us more than the headline age of the company. A business that has traded for a long time but has gone quiet, and a newer business that is trading strongly, are very different situations, and we treat them that way.
- Recent business bank activity, shared securely.
- The purpose of the funds and how the business will use them.
- Your current Companies House status as a Ltd or LLP.
Why we don't just count years
A single fixed rule, such as a set number of years trading, would unfairly exclude businesses that are doing well. By looking at the substance of your trading we can make a fairer decision. If you are approved, the rate and term are set out in your offer.
Things to remember
We do not take personal guarantees. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If your trading history is thin today, building up a few more months of activity before re-applying can strengthen your position.
See also: Can a newly formed company apply?, Does a dormant or newly active company qualify?, What credit score do I need for a business loan?.