Who can borrow via FOLK2FOLK?
Eligibility criteria for our secured business loans
FOLK2FOLK provides secured business loans to a wide range of borrowers across the regional UK. We don’t lend to everyone, but we take a holistic, common-sense approach often funding projects that fall outside the tick-boxes of traditional lenders.
You are eligible to apply for a business loan if:
- You’re aged 18 or over
- You’re a UK resident, or your business is UK-based with beneficial owners who are UK citizens or have indefinite leave and reside in the UK (excluding Channel Islands and Isle of Man)
- You’re borrowing for a business purpose
- You have sufficient UK property or land (other than your home) to secure the loan
- You need a loan of £100,000 or more, for a term between 6 months and 5 years
- You can afford the monthly interest-only payments and have the ability to repay the loan at maturity
You won’t be eligible if:
- You’re looking for a personal (non-business) loan
- You don’t have property or land to use as security
- The property being offered as security is your main home
- You’re based outside of the UK, or only operate in the Channel Islands or Isle of Man
- You need a longer repayment term or want capital repayment during the loan term
- You’re seeking unsecured finance
What we look for
We’re flexible and open-minded, but all applications are subject to due diligence. We assess:
- The value and suitability of the security offered
- The business rationale for the loan
- The ability to meet interest payments
- The credibility and experience of the borrower
Still unsure?
If you’re not sure whether you meet our criteria, get in touch with us or ask your broker to make an enquiry. We’re happy to have a conversation.
