Business Funding for New Businesses Under 12 Months
Can you get funding as a new business? Yes. YouLend (6mo+), iwoca (6mo+), Fund Ourselves (3mo+) all fund new businesses. £5k-£100k available for your business growth.
Funding Options by Trading Time
0-3 months:
10%Very limited. Startr or personal lending only
3-6 months:
50%Fund Ourselves (3mo minimum)
6-9 months:
70%YouLend, iwoca (6mo minimum)
9-12 months:
80%YouLend, iwoca, 365 Finance (9mo min)
12+ months:
85%+All providers available
Best Lenders for New Businesses
iwoca
Best Option
6 months
£3,000/month
75% for 6-12 month businesses
1.15-1.30x (higher for newer businesses)
£1k-£75k typically for under 12 months
YouLend
6 Months Minimum
6 months
£8,000/month
70% for 6-12 month businesses
1.20-1.35x for newer businesses
E-commerce with strong platform data
Fund Ourselves
Newest Accepted
3 months (lowest in UK)
£5,000/month
50-60% for 3-6 month businesses
1.25-1.40x (higher due to risk)
£3k-£50k for very new businesses
Approval Rates by Trading Time
0-3 months trading:
10% approval (very difficult)3-6 months trading:
50% approval (Fund Ourselves only)6-9 months trading:
70% approval (iwoca, YouLend)9-12 months trading:
80% approval (all MCAs)12+ months trading:
85%+ approvalTips for New Businesses
Wait until 6 months if possible:
Approval jumps from 30% to 70%
Show strong revenue growth:
£3k → £8k → £12k over 6 months = approved
Apply to iwoca first:
Lowest minimum, best rates for new businesses
Start small:
Ask for £10k-£20k, not £50k (higher approval chance)
Build track record:
First advance builds relationship for larger second advance
What If You Are Under 6 Months?
Options are very limited under 6 months trading:
Fund Ourselves:
Accepts 3+ months (factor rates 1.25-1.40x)
Start Up Loans:
Government scheme, £500-£25k at 6% APR (long approval process)
Business overdraft:
Easier to get than loan
Personal loan:
Use personal credit if business credit unavailable
Wait:
Best option - wait 2-3 months for better access and rates
Conclusion
New businesses (6-12 months) CAN get funding from iwoca, YouLend, and Fund Ourselves. Expect higher factor rates (1.15-1.35x vs 1.08-1.25x for established businesses) and lower amounts (£10k-£75k vs £500k max).
Best strategy: Wait until 6 months minimum. Then apply to iwoca (best rates for new businesses) for your business growth.
Funding for New Businesses
6+ months trading? Get matched to lenders accepting new businesses
70-80% approval for your business growth
Apply as New BusinessFrequently Asked Questions
Can I get funding as a new business under 12 months?+
Yes. YouLend (6mo+), iwoca (6mo+), Fund Ourselves (3mo+) all fund new businesses. £5k-£100k available. Expect higher factor rates (1.15-1.35x vs 1.08-1.25x for established businesses) and lower amounts (£10k-£75k vs £500k max).
What are the approval rates by trading time?+
Approval rates vary by trading time: 0-3 months trading - 10% approval (very difficult), 3-6 months trading - 50% approval (Fund Ourselves only), 6-9 months trading - 70% approval (iwoca, YouLend), 9-12 months trading - 80% approval (all MCAs), 12+ months trading - 85%+ approval.
What if I am under 6 months trading?+
Options are very limited under 6 months trading: Fund Ourselves (accepts 3+ months, factor rates 1.25-1.40x), Start Up Loans (government scheme, £500-£25k at 6% APR, long approval process), Business overdraft (easier to get than loan), Personal loan (use personal credit if business credit unavailable), Wait (best option - wait 2-3 months for better access and rates).