Applying for a Loan
What Information do I need for my application?
- Valid UK Bank Account
- Be at least 18 years old
- 3 months recent Bank Statements
- Trading for at least 18 months
- Copies of Statutory Accounts
- Management Accounts if available
When applying you also need to provide the following information:
- Copy of Passport / Driving License
- Utility Bill less than 3 months old in the directors/proprietor’s name
Can I apply if I have less-than-perfect credit?
Yes. Less-than-perfect credit does not necessarily prevent you from qualifying for a loan. We recognise that a credit score may take time to repair, even when you have been working diligently to erase past mistakes. Our carefully selected panel of lenders use a variety of criteria to evaluate each customer, including their credit score and recent borrowing history. If you've had trouble with credit in the past but have worked hard to improve your score, lenders may be able to approve you for a loan.
Will I need to submit any extra paperwork?
In most cases, lenders will be able to make a loan decision without additional paperwork. However, there are some instances where some additional information may be required and we will communicate this with you.
Why was my application declined?
There are several factors that lenders use to evaluate your application, including but not limited to: an applicant's past borrowing history, credit report, identity verification, number of outstanding loans, income and existing financial commitments, as well as the validation of application details. If an applicant does not meet all or some of the lending criteria for each of the above items, lenders may decide not to approve their application.