DCF KNOWLEDGE CENTRE
New companies & lender requirements
Practical answers for UK limited companies. Explore the question closest to your purchase, funding need or agreement.
Read our new-start asset finance guide →22 questions
Can a new limited company get asset finance?
Potentially. A lack of filed accounts does not automatically rule out asset finance. Lenders may consider director experience, bank conduct, deposit, the asset, supplier, contracts or forecasts and any guarantee requirements.
Read answer →What documents are normally needed for asset finance?
Common starting information includes the supplier quote, asset details, company information and financial information such as accounts or bank statements where requested.
Read answer →Is DCF a lender?
No. Direct Commercial Finance is a commercial finance broker. DCF discusses the requirement and approaches suitable lenders; the lender makes the credit decision and sets the terms.
Read answer →Can I get asset finance without filed accounts?
Potentially. New and recently incorporated companies can be considered by some lenders, but the proposal may rely more heavily on director experience, bank statements, contracts, forecasts, deposit and the quality of the asset.
Read answer →Does a director need to be a homeowner for asset finance?
Not always. Homeownership is only one possible factor and does not guarantee approval. Lenders assess the complete credit proposal and their requirements differ.
Read answer →Can I finance an asset before my company has much trading history?
Potentially. Some lenders consider early-stage businesses where the directors have relevant experience and the asset and business plan are credible.
Read answer →Can I finance equipment needed to grow the business?
Potentially. Asset finance is commonly used to spread the cost of productive vehicles, plant and machinery rather than paying the full purchase price from working capital.
Read answer →Can a company with three months’ trading apply for asset finance?
Some lenders may consider it, but limited trading evidence means the directors, asset and business plan need explaining clearly.
Read answer →Does a director’s industry experience help a new company’s finance application?
It can help explain the proposal, although it does not replace affordability checks or guarantee approval.
Read answer →What does a director’s personal guarantee mean in asset finance?
A guarantee can make the director personally responsible for specified company obligations if the company does not meet them, depending on its wording.
Read answer →Can a limited company get asset finance without a personal guarantee?
Some proposals may be considered without one, but requirements depend on the lender, company, asset and exposure.
Read answer →Can a company apply if a director has adverse credit history?
It can still be worth discussing the facts, but the type, age, amount and current status of the issue may affect lender appetite.
Read answer →Can a loss-making company obtain equipment finance?
Possibly, but the lender needs to understand the losses, current cash position and how the additional commitment will be met.
Read answer →Do lenders look at turnover or profit for asset finance?
They may consider both, alongside cash flow, bank conduct, existing debt and the proposed asset.
Read answer →Why does a lender ask for management accounts when filed accounts are available?
Filed accounts may describe an older period, while management figures can show how the business is trading now.
Read answer →Why are business bank statements requested for asset finance?
Statements can help a lender assess current trading, cash movement, existing commitments and account conduct.
Read answer →Will applying for asset finance leave a credit search?
It may. The type of search and whose credit file is checked depend on the lender and application process.
Read answer →Does credit approval mean the supplier can be paid immediately?
No. Funding may still depend on documents, identity and supplier checks, asset evidence, deposits and other conditions.
Read answer →Should I disclose a recent change in directors or ownership?
Yes. Changes can affect the lender’s understanding of control, management, experience and financial support.
Read answer →Can a dormant company finance equipment when it starts trading again?
It may be considered, but incorporation age alone does not demonstrate an active trading history.
Read answer →Can a signed contract replace the need for a deposit?
Not automatically. A contract can support the business case, but initial-payment requirements depend on the complete lender proposal.
Read answer →What should I do if an asset finance application is declined?
Try to understand the reason before making another application, because the issue could concern the business, asset, supplier or structure.
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