What documents do I need for a business loan?
For an unsecured business loan, three things: the last three to six months of business bank statements, your most recent filed accounts, and proof of identity and address for each director who will sign. Most lenders now take the statements through an Open Banking connection instead of PDFs, which turns the slowest part of the list into a two-minute step. A personal guarantee is a signature, not a document you supply.
Every product after that adds its own paperwork, because the lender is looking at something other than the accounts: the asset, the invoices, the property. The list below is what lenders on our panel commonly ask for. We arrange finance for UK limited companies, LLPs, sole traders and partnerships through the lenders whose criteria fit, and one of the things we do before anything is submitted is say which of these you will actually be asked for.
By product
Read down to the product you want. Everything in the first row applies to all of them.
| Product | What is asked for | Why |
|---|---|---|
| Any product | Three to six months of business bank statements (or an Open Banking connection); the last filed accounts; identity and proof of address for each director; details of any existing borrowing | How the business trades, what it owes, and who is signing |
| Unsecured business loan | Management accounts if the filed ones are more than six months old; sometimes a VAT return | The lender is lending against the accounts, so it wants current ones |
| Merchant cash advance | Card processing statements for the last three to twelve months, or an Open Banking view of the takings | The advance is sized on card takings, not on profit |
| Asset finance | The supplier's quote or invoice in the company's name; for used kit, proof of ownership and sometimes an inspection | The lender is buying the asset and holds it as security |
| Invoice finance | An aged debtor report from your accounts software; sample invoices and the terms you trade on; details of any charge your bank already holds | The lender is underwriting your customers and needs a charge over the book debts |
| Commercial mortgage or bridging | The memorandum of sale or auction contract; a valuation (usually instructed by the lender); leases for an investment property; a schedule of works for a refurbishment; the exit in writing for a bridge | The lender is lending against the property and its plan for repayment |
| VAT or tax funding | The VAT return or the tax computation showing the bill and its due date | The loan is sized on the bill |
Why some lenders skip the accounts
Because the accounts are not what they lend against. 21 of the 55 unsecured lenders on our panel accept a business trading under a year, which by definition has no filed accounts; they underwrite the bank statements and the director instead. Card-advance lenders read the takings. Asset lenders read the asset and the deposit. The accounts matter most for a term loan from a bank, which is also the product with the longest list.
The director's side is the constant. Identity, address and a credit file come up on every product, and 39 of the 55 unsecured lenders will lend to a director who is not a homeowner, so homeowner status narrows the list rather than closing it.
What lenders publish about their own requirements
Each lender sets its own list. These positions are from the lenders' own sites or from published reviews, checked in August 2026, and they show how different the lists already are at the top of the market.
- iwoca: lends to businesses that operate as a limited company or a partnership; a personal guarantee from a director; no charge for early repayment.
- Funding Circle: UK-based business trading for a year or more; a personal guarantee will be required.
- YouLend: three months of trading and £1,500 a month of card sales, with an Open Banking connection as part of the application (per review).
- 365 Finance: six months of trading and £10,000 a month of average card sales; a soft search at application.
What to have ready on day one
The bank statements or the willingness to connect Open Banking. The accounts, filed on time at Companies House; a late filing is the single most common thing that stops an otherwise clean case. A list of what the business already owes and to whom, because the lender will find it anyway. The supplier quote, the debtor report or the sale memorandum if the product needs one. And the name and address of every director who will sign, told in advance that a guarantee is coming.
Nothing here is submitted to a lender until you have chosen one, and enquiring does not affect your credit score. This page is general information, not advice.
Frequently asked questions
Do I need a business plan for a business loan?
Rarely, for an established business borrowing against its trading. A bank term loan or a start-up application may ask for one; most unsecured, asset and card-advance lenders never do. Cash flow forecasts come up more often than plans, usually for larger loans or where the accounts are thin.
Do I need a business bank account?
In practice, yes. Lenders pay out to and collect from an account in the borrowing company's name, and the statements from it are the main document on the list. A personal account used for business takings commonly stops an application before it starts.
Will I have to give a personal guarantee?
For unsecured lending to a limited company, almost always. It is a signature on the loan documents rather than a document you supply, but it is the most consequential thing you will sign, so read the personal guarantee page before the paperwork arrives.
How old can the accounts be?
In date, which is looser than it sounds. A private company files within nine months of its year end, so the latest filed accounts can be up to about 21 months old and still be the current set. If they are more than six months old, expect to be asked for management accounts or a recent VAT return to show what has happened since.
More funding questions answered
- Can I repay a merchant cash advance early?Usually yes, but the fee is fixed at signing, so it rarely cuts the total.
- What happens if I default on a merchant cash advance?What default means, how a personal guarantee works, and where to get free debt help.
- What counts as bad credit for a business?CCJs, defaults, late payments and thin files, and how long each stays on record.
- Invoice finance with bad creditWhy lenders look at your customers' credit rather than yours.
- Do I need to be a homeowner to get a business loan?No, but it narrows the field. How many lenders lend to non-homeowners, and which products care least.
- Can I get asset finance on used machinery?Yes. Where age, private sellers and auctions narrow the list, and how the VAT works.
Find out what you will be asked for
Tell us the product and how long you have traded. We say which lenders fit and exactly what each will want before anything goes in.
Sources
Checked September 2026. Lender requirements are the lenders' own and change; the list on this page is what is commonly asked for, not a promise about any one lender.
Important information
CapExpand Ltd (FRN 1060885) is an Appointed Representative of White Rose Finance Group Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630772). We are a credit broker, not a lender, and we do not provide financial, tax or legal advice. We work with a panel of lenders whose particulars are available on request. If a deal completes the lender pays us a commission, at no cost to you; different lenders pay different amounts under different models, and we will tell you the amount for your deal on request. All lending is subject to status, valuation where applicable and the lender's own checks.
Registered office: Pure Offices, Lake View Drive, Annesley, Nottingham, NG15 0DT. Company No. 14433858.
CapExpand Ltd (FRN 1060885) is an Appointed Representative of White Rose Finance Group Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630772). We are a credit broker, not a lender. We do not provide financial advice.