Business Loan Eligibility

Check your eligibility for a Business Loan of £10k - £150k

About our Business Loans - aiding your business growth

We understand that expansion, innovation, and seizing new opportunities are essential for the success of any business, which is why we're dedicated to providing financial solutions that empower your business to achieve its full potential.

Our business loans are designed not only to provide the necessary capital injection but also to serve as strategic tools to help you navigate the landscape of growth while ensuring stability and profitability.

Whether you're a growing startup with big dreams or an established company reaching for new horizons, our range of flexible loan options, competitive rates, and personalized guidance will pave the way for your business to thrive.

Features of our Business Loans:

A maximum term of 6 years
For businesses looking to borrow between £10,000 - £150,000
For businesses over 24 months old (but earlier stage businesses can be considered, too)
For businesses who have reason to believe they would be unable to secure sufficient funding through a mainstream loan, such as a High Street bank.
We won’t charge any early repayment fees.

We are an accredited lender of the Recovery Loan Scheme managed by the British Business Bank - on receiving your application we will work to provide you with a loan on the best possible terms. Your assigned business manager will inform you about your suitability and eligibility for our finance products, and let you know if the Recovery Loan Scheme or an alternative is more suited to you.

Ready to apply?

To apply for our Business Loans, you will need:

A sound business plan

A well thought-through proposition supported (in some cases) by profit and cashflow projections, to demonstrate the benefits the proposed loan will bring to the business.
A successful and profitable business

Your business will usually have been trading for 24 months or more, but businesses younger than this may be considered.

Have a question about Business Loans and your eligibility?

Get in touch with us

You will need to:

Be aged 18 years or older at time of application
Reside in the United Kingdom
Have the right to live and work in the United Kingdom
Be based in these areas of the United Kingdom: Sussex, Surrey, Kent, Essex, Suffolk, Norfolk, Cambridgeshire, Hertfordshire, Hampshire, Isle of Wight, Berkshire, Buckinghamshire or Oxfordshire
Have a business type and purpose for loan that is eligible under the terms of the scheme
Be unable to access any or sufficient funding through a mainstream loan such as from a High Street bank
Be willing to declare any previous credit issues
Pass our credit checks and show that you can afford to repay the loan
Provide a personal guarantee but not other forms of personal security, ie, the primary family home
Not currently be subject to a bankruptcy order or an IVA (Individual Voluntary Arrangement) or a DRO (Debt Relief Order)
Cover capital and interest repayments throughout the loan, although an initial capital repayment holiday can be applied for
Evidence of your trading history for the last 2 years (through your financial accounts, and management information.)

Ready to apply?

Apply now!

Additional Eligibility Criteria for the British Business Bank’s Recovery Loan Scheme

The Recovery Loan Scheme (RLS) from the British Business Bank is designed to support access to business finance for UK small businesses as they look to invest and grow. As an accredited lender of the Recovery Loan Scheme, Let’s Do Business Finance are also able to offer finance to eligible businesses under the scheme - allowing us to provide finance to businesses who may not be able to access it elsewhere.

With much of the Recovery Loan Scheme similar to our own Business Growth Loan Eligibility Criteria, there are a few key differences to the scheme.

- Businesses can secure finance from £25k - up to £2M (Let’s Do Business Finance can offer a maximum amount of £150k)
- The scheme is open to businesses with a turnover of up to £45m
- Terms from 3 Months to 6 Years
Funds under the Recovery Loan Scheme cannot be used to support certain export-related activities. There are certain restrictions on the use of proceeds of facilities in the agriculture, fisheries and aquiculture, and road freight transport sectors for borrowers impacted by the Northern Ireland Protocol
Eligibility requirements for the Recovery Loan Scheme are very similar to the requirements stated for Business Loans further up this page, with the additional exclusions of:
- The following trades and organisations are not eligible to apply: Banks, Building Societies, Insurers and Re-insurers (but not insurance brokers); the public sector including state-funded primary and secondary schools.
To apply for business finance under the Recovery Loan Scheme, you would apply just like you would for our Business Loans - the application is the same. Once we have received your application, our team will assess your eligibility and suitability for both types of finance, and we will match you with the product that is best suited to you.
Decision-making on whether a business is eligible for RLS is fully delegated to the British Business Bank’s accredited RLS lenders.
The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit http://www.british-businessbank.co.uk/recovery-loan-scheme
The British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services.