What lenders check
Business lenders look at how long you've been trading, your turnover and profit, your cash flow, existing debts, your business and personal credit history, and any security. Newer businesses may need a personal guarantee or a government-backed scheme.
Worked example
If the business can support £1,500 a month, at 9% over 5 years that would repay about £72,260.06, with £17,739.94 of interest.
Improving your chances
Up-to-date accounts, a clear business plan and cash flow forecast, and a clean credit history all help.
This is an estimate. Lenders make their own decision based on your full circumstances and credit history.
Inputs for the business loan eligibility calculator
Monthly payment you can afford
The repayment your business's cash flow can comfortably support.
Interest rate (per year)
The annual interest rate on your loan. The rate shown is only an example, so enter the rate from your quote.
Term
How many years you'd repay over. A longer term lets you borrow more for the same payment but costs more interest.
CALCULATOR QUESTIONS
Business loan eligibility calculator questions
What do I need to qualify for a business loan?
Usually a trading history, accounts, healthy cash flow and a reasonable credit history. Requirements vary by lender.
Can a new business get a loan?
Sometimes, often with a personal guarantee or through a scheme like Start Up Loans.
Does my personal credit matter?
Often, especially for small businesses and sole traders.
Is this a guarantee?
No. The lender decides.