Quick answer
Most UK SME lenders ask for six to twelve months of business bank statements, the latest filed accounts, management accounts if those are stale, recent VAT returns, identity and address documents for each director, and details of any existing finance. Larger or specialist products add a debtor list, asset schedule, business plan, property valuation, or accountant's references depending on the deal.
The standard core pack
Almost every UK SME lender wants the same core pack as a starting point. Business bank statements, usually six to twelve months, in native PDF format from the bank - not screenshots, not Excel exports. The most recent filed Companies House accounts. Management accounts (profit and loss, balance sheet) if the filed accounts are over six months old or if the lender wants a more current view.
Plus VAT returns for the last four quarters where the business is VAT-registered. Photo ID and proof of address for each director (and for personal guarantors who are not directors). A short summary of existing facilities - lender, balance, monthly repayment, maturity date - so the underwriter can build the affordability stack.
Product-specific extras
Asset finance: a quote or invoice from the supplier of the asset, plus an asset schedule if you are funding multiple items. The lender will register a charge over the asset and may want condition or valuation evidence for used equipment.
Invoice finance: a current aged debtor report, ideally exported from your accounting system. The lender will look at average invoice size, debtor concentration, days-sales-outstanding (DSO), and the dilution rate (credit notes as a percentage of invoiced value).
Bridging and commercial mortgage: an open-market valuation from a RICS-qualified surveyor (the lender will usually instruct one rather than accept yours), property title information, planning consents if relevant, and full property income evidence for investment deals.
Larger unsecured loans: a one- to three-page use-of-funds memo, a forward-looking cashflow forecast, and sometimes an accountant's letter confirming the figures you have submitted.
Personal documents for guarantors
Where a personal guarantee is involved, the lender often wants to see the guarantor's own affordability picture. This can include personal income evidence (payslips, tax returns or accountant's letter for self-employed guarantors), a short statement of personal assets and liabilities, and personal bank statements in some cases.
On larger PGs, lenders may require evidence that the guarantor took independent legal advice before signing. A separate letter from a solicitor confirming this is sometimes required, particularly for unlimited PGs or where a guarantor's home is implicated.
How to submit the pack well
Submit clean, complete files first time. A pack with missing months, blank pages, or photographs of bank statements taken on a phone signals an inexperienced applicant and slows underwriting. Native PDFs, properly named, in a single zipped folder, is the gold standard.
Pre-empt obvious questions. If there is a large one-off cost on the bank statements, include a one-paragraph note. If a customer left in the last quarter, mention the replacement contracts. Underwriters work faster when they do not have to guess.
Key points
- Core pack: bank statements, accounts, management accounts, VAT, ID.
- Product extras vary: asset schedule, debtor report, property valuation.
- Personal guarantors usually need their own affordability evidence.
- Native PDFs beat screenshots; complete packs beat partial ones.
- Pre-empt obvious questions with short explanatory notes.
Finance types that may be relevant
The product categories below are commonly considered for this situation. Suitability is subject to lender underwriting and your trading profile.
Unsecured Business Loan
Term loan or credit line repaid through fixed instalments.
Invoice Finance
Funding advanced against unpaid B2B invoices.
Commercial Mortgage
Long-term commercial property purchase/refinance funding.
Related guides
Frequently asked questions
- Will lenders accept open-banking instead of PDFs?
- Many will, and some prefer it because the feed is cleaner. Open-banking access usually shortens underwriting but is not yet universal.
- Do I need an accountant's letter?
- Sometimes, particularly for larger deals or where filed accounts are out of date. For smaller vanilla loans it is usually not required.
- How recent do bank statements need to be?
- Most lenders want statements through to the most recently closed month. Older than two months and they will usually ask for an update.
- Can I redact sensitive transactions?
- No. Redacted statements are usually rejected because the underwriter cannot verify the picture. Submit them complete or do not submit at all.
Compliance note
Eligibility guidance only - not financial advice, not a loan offer, not a guarantee of approval.