What is the eligibility criteria to apply for finance?

Each lender will have their own eligibility criteria for their financial products. However, as a guide, here are some of the common ones:

  • Your business must be UK-based.

  • Most lenders require 12 months minimum trading history; however some lenders will accept a shorter history.

  • The minimum annual turnover amount required varies by lender.

We recommend that you check the lender’s specific eligibility criteria and confirm your business meets their requirements before applying for the financial product.

Note that, for regulatory reasons, you won’t be able to apply for small business finance using your Xero data if you are an individual, partnership of two or three persons (unless all partners are bodies corporate), or an unincorporated body of persons (unless all persons are bodies corporate) which is not a partnership.

Frequently asked questions

What is the eligibility criteria to apply for finance?

Each lender will have their own eligibility criteria for their financial products. However, as a guide, here are some of the common ones:

  • Your business must be UK-based.

  • Most lenders require 12 months minimum trading history; however some lenders will accept a shorter history.

  • The minimum annual turnover amount required varies by lender.

We recommend that you check the lender’s specific eligibility criteria and confirm your business meets their requirements before applying for the financial product.

Note that, for regulatory reasons, you won’t be able to apply for small business finance using your Xero data if you are an individual, partnership of two or three persons (unless all partners are bodies corporate), or an unincorporated body of persons (unless all persons are bodies corporate) which is not a partnership.

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