There are a few hard requirements that, if not met, mean we cannot lend as structured — but most things people worry about are weighed rather than being an outright no. Knowing the difference saves you assuming you are out when you are not.
The genuine hard lines
- Not a UK limited company or LLP. A sole trader cannot apply as structured — whether a sole trader or partnership can apply.
- No qualifying UK business bank account. The company needs its own — which business bank accounts you can connect.
- Not enough trading history. There is a minimum — whether you need to be VAT-registered or trading a certain time.
- Not a genuine business purpose. Personal spending is out — what counts as a business purpose.
Adverse credit, a lean margin, existing debt, a rough past year, a big single customer — these are considered in the round, not automatic declines. See applying with a CCJ or adverse credit history and why an application might be declined.
Meet the basics, then it is affordability
Clear the hard lines and the decision turns on affordability. Check yourself against the requirements in which business types can apply.
If you meet the basics, apply.
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 types can apply?, Why an application might be declined?, Whether a sole trader or partnership can apply.