Who Can Enquire Through FundBiz: Ltd, LLP and Partnership Rules
FundBiz is not a lender. Who can send an enquiry through FundBiz, and how lenders view limited companies, LLPs and partnerships.
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FundBiz is not a lender and does not arrange finance. Its enquiry form is for UK limited companies, limited liability partnerships and traditional partnerships with four or more partners. Structure matters because specialist lenders assess risk, repayment capacity and legal enforceability. Sole traders and micro-partnerships are outside the form's scope. Understanding lenders' eligibility rules before applying saves time.
Why FundBiz Restricts Eligibility by Legal Structure
The FundBiz enquiry form is only for incorporated or formally structured trading entities, because specialist lenders generally require a clear legal counterparty, enforceable security arrangements and auditable financial records. A limited company registered at Companies House, an LLP formed under the Limited Liability Partnerships Act 2000, or a traditional partnership with a formal partnership agreement all satisfy these requirements. A sole trader operating under their own name doesn't.
This isn't an arbitrary policy. Specialty finance products such as merchant cash advances, commercial mortgages and asset finance facilities are underwritten against business financials, director or partner credit profiles, and in many cases fixed or floating charges over business assets. Lenders need a legal entity to attach those charges to. Without incorporation or a formal partnership structure, that attachment is either impossible or legally fragile.
Limited Companies: The Most Common Applicant Type
UK private limited companies registered at Companies House can send an enquiry through FundBiz. Lenders will generally expect the company to be actively trading and to have at least one filed confirmation statement to confirm its current director and shareholder structure.
Lenders will check the Companies House record as a matter of routine. A dormant company, a company in administration or one with outstanding filing penalties will face additional scrutiny or outright decline. Where accounts aren't yet due because the company is under twelve months old, some products such as merchant cash advances and VAT loans may still be available if monthly card or VAT evidence is strong.
Commercial mortgages and R&D advance facilities typically require at least one full year of trading. Directors should ensure their personal credit files are in reasonable order before applying, because personal guarantees are standard across most specialty finance products.
LLPs: Eligibility and How Lenders View the Structure
Limited liability partnerships formed under the Limited Liability Partnerships Act 2000 can also send an enquiry through FundBiz. Lenders generally apply the same trading history requirements as for limited companies. The LLP must be registered at Companies House and must file annual accounts and a confirmation statement in the usual way.
Lenders assess LLPs similarly to limited companies but pay close attention to the designated members. Most facilities will require a personal guarantee from at least one, and often all, designated members. Where the LLP has salaried members as well as equity members, lenders will want to understand the profit-sharing arrangement and whether salaried members hold material assets.
Some asset finance lenders apply slightly higher deposit requirements to LLPs in professional services because of the intangible nature of the underlying business assets. Overall, LLP applicants should expect broadly the same process as limited company applicants, with additional questions around membership structure at the underwriting stage.
Traditional Partnerships: The Four-Partner Minimum Explained
Traditional partnerships, meaning those without limited liability protection, are within the scope of the FundBiz enquiry form only where the partnership has four or more partners. The threshold is a legal one. Under the Consumer Credit Act 1974, a partnership of two or three people (not all of them companies) counts as an "individual", so lending to it can be regulated consumer credit (Consumer Credit Act 1974, s189(1)). FundBiz's enquiry form covers business borrowers outside that regime, so it starts at four partners.
Partnerships must be able to provide a written partnership agreement. Lenders won't proceed on a handshake arrangement. The agreement should confirm each partner's share of profits, their authority to bind the partnership in financial matters and any restrictions on personal liability. Solicitor-drafted agreements are preferred, though this isn't a strict requirement in every case.
Structures That Do Not Qualify
Sole traders, single-member companies acting purely as holding vehicles with no active trade, and partnerships of fewer than four partners are outside the scope of the FundBiz enquiry form. This is a firm boundary, not a guideline.
Charities, community interest companies and other not-for-profit structures are also outside scope, as specialist business lenders generally focus on commercial profit-making entities. Overseas companies with no UK Companies House registration or no UK trading presence are similarly excluded.
If a business is in the process of incorporating and wishes to borrow in the new entity's name, the company must first be registered and have a valid Companies House number before an application can begin. FundBiz doesn't lend, and lenders generally don't lend before incorporation.
Businesses that are currently in a formal insolvency process, including administration, liquidation or a company voluntary arrangement, aren't eligible until the process concludes and trading is restored.
What Applicants Need to Prepare Before Enquiring
Having the right documents ready before making an enquiry speeds up the process considerably and reduces the risk of a soft or hard credit search being wasted on an application that stalls at document stage.
For limited companies and LLPs, the minimum preparation is: the Companies House registration number, the most recent filed accounts or management accounts if filed accounts are over nine months old, three to six months of business bank statements, and the names and dates of birth of all directors or designated members who will be asked to guarantee.
For partnerships, a copy of the partnership agreement should be retrieved before the enquiry is made. Lenders may also ask for a brief summary of what the finance is for and over what term. Having a clear, factual answer to that question, rather than a vague response, helps underwriters process the case faster.
VAT registration certificates and HMRC correspondence are useful supporting documents for VAT loan and R&D advance applications specifically.
Choosing the Right Product for Your Structure
FundBiz doesn't assess, match or introduce applications. It's still worth thinking about which specialty finance product fits the business's purpose, trading profile and repayment capacity before you enquire.
A limited company with strong monthly card turnover but a short trading history is likely a better fit for a merchant cash advance than a term loan. A partnership purchasing commercial premises is usually better suited to commercial mortgage options rather than a bridging facility unless the purchase is time-critical and a conventional mortgage isn't achievable in the available timescale.
An LLP with an approved R&D tax credit claim may be better suited to an advance against that claim than a general working capital facility. If you send an enquiry, we pass your details to a business finance broker, who will contact you about your options. Any lender makes its own decision.
| Legal Structure | Covered by the FundBiz enquiry form? | Minimum Requirement | Personal Guarantee Required? |
|---|---|---|---|
| UK Private Limited Company | Yes | Active, registered at Companies House | Yes, from directors |
| Limited Liability Partnership (LLP) | Yes | Registered at Companies House, designated members identified | Yes, from designated members |
| Traditional Partnership | Yes, with conditions | 4 or more partners, written partnership agreement | Yes, from all or majority of partners |
| Sole Trader | No | Not eligible | Not applicable |
| Partnership of fewer than 4 | No | Not eligible | Not applicable |
| Charity / CIC / Not-for-profit | No | Not eligible | Not applicable |
| Company in Administration or CVA | No | Not eligible during insolvency process | Not applicable |
Step-by-step
- Confirm your legal structure is a UK limited company, LLP or partnership of four or more partners
- Retrieve your Companies House number and check that all filings are up to date
- Gather the last 12 months of business bank statements and your most recent accounts
- Identify all directors, designated members or partners who will be asked to provide a personal guarantee
- For partnerships, locate the signed partnership agreement before making an enquiry
- Prepare a brief, factual summary of the finance purpose and the amount needed
- Send your enquiry through FundBiz. We pass your details to a business finance broker, who will contact you about your options
Example
For example, a six-partner solicitors partnership needs to fund a refurbishment of its office premises. It has a formal partnership agreement, six years of filed accounts and stable monthly revenue. With a short completion window, a commercial bridging facility may fit, and a lender would typically ask all six partners for personal guarantees.
Frequently asked questions
Can a newly incorporated limited company send an enquiry through FundBiz?
Yes, in some cases. Newly incorporated companies can access certain products such as merchant cash advances or VAT loans if they can demonstrate trading activity through bank statements or VAT returns. Commercial mortgages and R&D advance facilities generally require at least one full year of trading. The company must have a valid Companies House number before any application can begin.
Does a limited company need to have filed its first accounts to be eligible?
Not always. A confirmation statement is sufficient to confirm the company's structure for many products. However, lenders will look for some form of financial evidence, usually bank statements, where accounts aren't yet available. Companies whose first accounts are overdue and subject to Companies House penalties may face additional lender scrutiny.
We're a two-partner LLP. Can we send an enquiry?
Yes. The four-partner minimum applies only to traditional partnerships without limited liability. LLPs are accepted regardless of the number of designated members, provided the LLP is registered at Companies House and actively trading. Both designated members will typically be asked to provide personal guarantees.
What happens if our partnership agreement is out of date or informal?
Lenders require a current, signed partnership agreement as a condition of advancing funds to a traditional partnership. An informal or undated agreement is unlikely to satisfy underwriting requirements. If your agreement is out of date, it is worth having it reviewed and re-executed by a solicitor before applying, as this prevents delays at the underwriting stage.
Can a holding company with no direct trading activity apply?
No. FundBiz is not a lender and does not arrange finance, and lenders generally want an actively trading entity. A pure holding company with no turnover or operational activity won't meet lender requirements. If the trading subsidiary is a UK limited company and it is the subsidiary that needs the finance, the application should be made in the subsidiary's name, with group accounts provided as supporting context.
Are overseas companies with UK branches eligible?
No. FundBiz requires a UK-registered entity with a Companies House number. An overseas company operating through a UK branch without a separate UK registration doesn't qualify. If the overseas group has incorporated a UK subsidiary, that subsidiary can apply in its own right, provided it meets the usual trading and filing requirements.
By Adam Parker, Founder & Managing Director, Muswell Rose. FundBiz is owned and operated by Best Business Loans Ltd, directed by Oliver Mackman. Last updated: .