If your business has restructured, for example moving activity into a different limited company or LLP, your application needs to reflect the entity that exists today. The borrower must be the current, correct legal entity registered at Companies House.
Apply as the entity that exists now
We assess and lend to a specific company or LLP. If the entity that traded historically is not the one applying now, make that clear, and apply in the name of the entity that will actually use and repay the funds.
- Use the registration number of the current borrowing entity.
- Make sure directors or members match the current Companies House record.
- Be ready to explain the recent trading of the new or current entity.
How a recent restructure affects assessment
A newly used entity may have a shorter visible trading record, even if the people behind it are experienced. We look at the recent activity of the applying entity. If approved, the rate and term are shown in your offer.
Good to know
We do not take personal guarantees from directors or members. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS. If a restructure is in progress, it is usually cleaner to apply once it has settled and Companies House is up to date.
See also: Can a holding company or group company apply?, What if my company's details have recently changed? and Can a non-UK company or overseas director apply?.