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Company Identity Documents
Every commercial lender will verify your company's legal existence before proceeding. Gather the following before you begin the application.
- Companies House registration number and certificate of incorporation
- Memorandum and articles of association (or confirmation statement)
- Full legal name of all directors and shareholders holding 25% or more
- Registered office address and principal trading address
- Any trading names or prior company names used
Financial Documents
Commercial lenders base their credit assessment primarily on your company's financial performance and cash flow. The stronger and more organised your financial pack, the faster the decision.
- Two to three years of filed accounts (or management accounts for recent incorporations)
- Six months of business bank statements for the company's main trading account
- Up-to-date management accounts if filed accounts are more than six months old
- VAT returns for the past four quarters where applicable
- Aged debtors and creditors lists if the facility involves invoice finance
If your business holds significant assets — property, equipment, or stock — have recent valuations or purchase records to hand as these may be relevant to security discussions.
Purpose of Funding and Repayment Evidence
State clearly what the funds will be used for and provide supporting evidence where possible. A lender assessing a facility to fund a specific contract, for example, will want to see the contract or letter of intent. For equipment purchase, a supplier quote strengthens the application.
Demonstrate repayment capacity through your cash flow forecast showing that projected debt service is covered by operating cash. A debt service coverage ratio comfortably above 1.25x is generally viewed positively, though requirements vary by lender.
Director and Guarantor Information
Where a personal guarantee is requested, each guaranteeing director will typically need to provide proof of identity (passport or driving licence), proof of address (utility bill or bank statement dated within three months), and in some cases a personal statement of assets and liabilities. Confirm the guarantee structure with your solicitor before signing.
Pre-Submission Checks
Before submitting, run through these final checks to avoid unnecessary delays.
- All documents are dated, signed, and legible
- Filed accounts match the figures in your management accounts narrative
- No County Court Judgements (CCJs) outstanding against the company — check your credit report
- Directors' addresses on Companies House match proof-of-address documents
- Application form completed in full with no blank fields
Frequently asked questions
Will the lender run a credit check on the directors?
Most commercial lenders conduct a soft or hard credit search on directors as part of KYC and risk assessment. Check the lender's terms before applying if you are concerned about impact on personal credit files.
What if my company was only incorporated recently?
Lenders vary widely in minimum trading history requirements. Some will consider applications from companies incorporated six months ago; others require two years. Present management accounts, a detailed cash flow forecast, and any evidence of contracted revenue.
Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.