What documents do you need for a business loan?

What do you need for a business loan? Most UK lenders ask for your last six months of business bank statements, your latest filed accounts, and photo ID and proof of address for the directors or owners. The paperwork is where most business loan applications slow down. Lenders can't decide without seeing how the business really trades, and gathering documents at the last minute takes days. Knowing what you'll be asked for, and why, lets you have it ready before you start.

The two documents that matter most

1. Business bank statements (usually the last six months)

Statements show what actually goes in and out of the business: your takings, regular costs, existing repayments and how much cash you hold. Lenders use them to judge whether you can afford repayments, and for some products, such as a merchant cash advance, they use your card takings directly.

Send full statements for every business account, not screenshots of a single page. Make sure the account name, dates and balances are all visible.

2. Your latest full filed accounts

For a limited company, the latest full set of filed accounts gives lenders the bigger picture: turnover, profit, assets and liabilities. These are the accounts filed at Companies House, and lenders can often check them there, so what you provide should match.

If your next set is due soon and your latest filed accounts look out of date, management accounts for the current year can help show where you stand now.

The identity documents

Lenders must confirm who they're dealing with. You can expect to be asked for:

• Photo ID for each director or owner, such as a passport or driving licence
• Proof of address, such as a recent utility bill or bank statement showing your home address

Use documents that are clear, in date and show the full name exactly as it appears elsewhere in your application.

Other documents you might be asked for

Depending on the product and the amount, a lender may also want:

• Details of existing finance, including balances and monthly payments
• A recent VAT return, if you're VAT registered
• Your latest tax return, if the lender asks for it
• Management accounts for the current year
• A schedule of your debtors, for invoice finance
• Property details and valuations, for secured loans and bridging finance
• A short note on what the funds are for

How to make it quick

• Use PDFs where you can. They're clearer than photos and keep pages in order.
• Check names and addresses match across every document and your application.
• Include everything the first time. Missing pages are the most common cause of delay.
• Keep file sizes sensible. Very large files can fail to upload.
• Answer questions promptly. A lender's follow-up question is a good sign, so reply the same day.

Uploading your documents safely

When you enquire through our site, you can upload your bank statements and accounts securely once your enquiry is sent, or email them to us. We only share them with lenders as part of your funding enquiry. Our privacy policy explains how your information is used.

If you're ready to start, you can check your options in a few minutes. It's free, with no obligation. For the full process, see our guide to getting a business loan in the UK.