1. What are the minimum loan application criteria?
- Trading for more than 2 years with annual sales revenues in excess of £500,000
- LTD or LLP registered at Companies House with filed financial accounts
- No CCJs within the past 3 years
- No Director CCJs or business failures within the past 3 years
- LTD, LLP or SPV
- Established business
- Experienced management team
- Good credit rating and security
2. My business is a start-up. Can I apply for a loan?
No, we are only able to provide loans to businesses that meet the minimum criteria, have revenues and the ability to repay the loan
3. Can I apply for a personal loan?
No, we provide loans to established businesses only
4. What information will I need to enter to apply for a loan?
You will need to provide some background information, your Companies House registration number and the following financial data:
- Sales revenues: actual for last full year and forecast for the loan period
- Operating Profit: actual for the last full year and forecast for the loan period
- Total current debt/loans to include overdraft, existing loans, HP and lease arrangements