Business loans
How to qualify for an unsecured business loan in the UK
Rook Bristol Editorial · Updated · 6 min read
The short answer
To qualify for an unsecured business loan with Rook Bristol, you generally need a UK-registered business, at least 6 months trading and £10K or more in monthly turnover. Lenders also review your business bank statements, your business and personal credit files, and how much you already borrow. Directors may be asked for a personal guarantee. All finance is subject to status.
What do UK lenders look at?
Most lenders weigh the same four things: how long you've been trading, how much turnover flows through your business account, how you've managed credit before and how much you already owe. Unsecured means no specific asset is pledged, so these factors carry more weight.
| Factor | Starting point | What strengthens it |
|---|---|---|
| Time trading | 6 months | Two or more years of filed accounts |
| Monthly turnover | £10K+ | Steady or growing deposits month to month |
| Business status | UK-registered | Up-to-date Companies House filings |
| Credit files | Assessed case by case | No recent CCJs, defaults or missed payments |
| Existing borrowing | Affordable repayments | Few other short-term facilities |
Which business types can apply?
Limited companies, LLPs, partnerships and sole traders can all apply. For a limited company or LLP we'll use your Companies House number; for sole traders and partnerships we look more closely at the owners' own credit files.
How do I prepare my application?
- Download your last 3 to 6 months of business bank statements as PDFs, or connect via Open Banking.
- Have your Companies House number, trading address and postcode to hand.
- Know what the funds are for and roughly how much you need.
- List any existing loans, cards or advances with their monthly repayments.
- Check VAT and PAYE are up to date with HMRC, or be ready to explain any arrangement.
A complete application is the biggest single factor in decision speed. When statements and company details arrive together, most decisions come back within 24 hours.
Does applying affect my credit file?
Not at the start. We begin with a soft search, which doesn't affect your score. Read more in our guide to what a soft search means.
Not sure you meet every requirement? Speak to us anyway. We look at the whole business and can tell you what may be available now and what to work on.
How is the loan amount set?
Mainly by turnover, cash flow and affordability. Rook Bristol lends from £10,000 to £1 million over terms of up to 60 months. Try the funding estimator for a rough range, or see business loans for how the product works.