These are our standard criteria. A business sitting just outside one line is referred to an underwriter rather than declined by a rule. If you are close, talk to us.
The baseline
Working capital is lent against your trading cash flow, not against a single asset. That makes the quality and predictability of that cash flow the thing we look at hardest.
| Criterion | Standard position |
|---|---|
| Trading history | At least 12 months of trading, evidenced by filed accounts or management accounts. |
| Turnover | A sustained monthly turnover sufficient to service the facility alongside existing commitments. |
| Account conduct | No unmanaged returned payments or persistent unauthorised excesses in the last six months. |
| Legal form | Incorporated companies, partnerships and established sole traders. |
| Ownership | Ultimate beneficial owners identified and verified. |
| Sector | Most sectors. Some are restricted by our financial crime policy rather than by credit appetite. |
Younger businesses are not excluded
Under twelve months of trading usually means a smaller facility and more evidence, not an automatic decline. A strong contracted order book carries real weight.
How we assess cash flow
- Predictability
- Regular, recurring receipts score better than lumpy ones. Seasonality is fine when it is visible in the history and explained.
- Debtor quality
- Who owes you, how much of the book sits with one customer, and how reliably they pay. Concentration in a single debtor is the most common limiting factor.
- Working capital cycle
- The gap between paying suppliers and being paid. The facility should be sized to that gap, not to an aspiration.
- Existing commitments
- Other facilities, leases, director loans and any charge already registered over the business.
- Headroom
- What the business could still service if turnover fell. This is the test that decides most limits.
The fastest way to a larger facility
Connect your accounting system so we read the live position rather than a set of accounts that are months old. It usually improves both the limit and the decision time.
What to have ready
- The latest filed accounts, plus management accounts if the filed ones are more than six months old.
- Six to twelve months of business bank statements, or a connected accounting feed.
- A current aged debtor and aged creditor report.
- Details of existing borrowing, including balances, terms and any security given.
- Identity and address evidence for directors and beneficial owners.
- A short explanation of what the money is for and how it will be repaid.
The last item is not a formality
A clear, specific use of funds with a repayment source attached is the difference between a fast approval and a long conversation. "General cash flow" is the weakest answer available.
Security and guarantees
Most facilities are supported by security of some kind. We tell you what is required before you apply rather than at signing.
| Type | When it applies |
|---|---|
| Debenture or general charge | Common on larger facilities. A charge over the assets of the business. |
| Personal guarantee | Frequently required from directors of smaller companies, usually capped at an agreed amount. |
| Specific asset charge | Where the facility funds an identifiable asset such as stock or equipment. |
| Debtor assignment | On invoice-based facilities, where the receivable itself is the security. |
| Unsecured | Available at smaller limits for businesses with strong history and conduct. |
A personal guarantee is personal
If the business cannot pay, you are asked to. Take independent advice before signing one, and negotiate the cap — it is negotiable more often than people assume.
If you meet the criteria
Apply
From inside your business account, with the documents above.
Assessment
Cash flow, debtors, commitments and conduct reviewed together. Expect questions.
Offer
Limit, rate, term, security and every fee, in writing before you commit.
Drawdown
Funds available on the agreed terms, with the facility visible in your dashboard.
Documents you may also need
Working Capital Facilities
Revolving credit, invoice finance, stock funding and short-term loans — which one fits which problem, and what each actually costs.
Business CheckingGrowth Scale
For companies where money now moves through a process: user permissions, approval chains, bulk payables and API access to your own data.
Growth FacilitiesGrowth Facility Types
Acquisition finance, expansion capital, capex funding and structured facilities — what each is for, how it is secured and how it is repaid.
This document was last updated on 1 August 2026. We publish the current version here at all times; superseded versions are available on request.
If anything on this page is unclear, write to us and we will explain it.