How to get a revolving credit facility in the UK: eligibility, costs, and how to apply
If you've decided a revolving credit facility is the right type of finance for your business, the next question is practical: how do you actually get one? This guide covers who qualifies, what lenders look at, how much it typically costs, and what the application process looks like with both a traditional bank and a specialist lender like Juice.
Who can apply for a revolving credit facility in the UK?
There is no single eligibility standard across all lenders. Each has its own criteria. That said, there are common factors that most lenders assess.
Business type
Revolving credit facilities are available to most UK business structures: limited companies, LLPs, partnerships, and sole traders. However, many specialist lenders focus on limited companies as they provide cleaner financial records and more established credit profiles.
Juice Flex is available to UK-registered limited companies.
Trading history
Most lenders want to see that your business has been trading for at least 12 months, ideally 24 months or more. This gives them enough financial history to assess how your business performs across different periods, not just a single month.
Some lenders will consider businesses with less than 12 months of trading history, but typically at reduced limits and higher rates.
Revenue and cash flow
Lenders will want to see evidence that your business generates enough revenue to service the facility. For a revolving credit facility, this means demonstrating that your cash flow cycles are consistent enough to support regular repayments.
Juice assesses your revenue by connecting to your business bank accounts and accounting software. This gives a real-time picture of your cash flow rather than relying on static, months-old filed accounts.
Credit history
Both your business credit profile and, for smaller businesses, your personal credit history as a director may be assessed. County Court Judgements (CCJs), missed payments on existing credit, or insolvency history will reduce your options. A clean credit profile improves both your likelihood of approval and the terms you're offered.
UK-based business
You must be a UK-registered business. Revolving credit facilities from UK lenders are not available to overseas businesses.
What do lenders look at?
Understanding what lenders assess helps you prepare a strong application.
Bank statements — Most specialist lenders will request 3–6 months of business bank statements. These reveal your average monthly revenue, typical cash flow patterns, existing repayment commitments, and any red flags (returned payments, persistent overdraft use).
Filed accounts — For limited companies, lenders will check your most recent filed accounts at Companies House. These provide a formal snapshot of your financial position, though they lag behind real-time performance.
Open banking / accounting software — Faster lenders increasingly use open banking connections to access real-time data, rather than waiting for PDF statements. This speeds up the assessment considerably and gives a more accurate picture of current trading.
Existing debt obligations — Lenders assess your total debt service coverage: how much of your monthly revenue is already committed to repaying existing facilities. Taking on too much debt relative to revenue is a risk signal.
Director information — For most SME revolving facilities, lenders will run checks on the business directors as part of the assessment. This is standard practice for business credit in the UK.
How much can you borrow?
Credit limits vary widely between lenders, but as a general guide:
- Bank revolving facilities: Often start at £25,000–£50,000 and scale up for established businesses with strong balance sheets. Typically require a longer banking relationship and more extensive documentation.
- Specialist lenders: Typically more accessible, with faster processes. Juice Flex runs from £25,000 to £1,000,000, subject to status and lending criteria.
The limit you're offered will depend on your revenue, trading history, existing debt, and the lender's assessment of your ability to repay. You won't necessarily be offered your maximum. The limit is calibrated to what the lender believes your business can comfortably service.
What does a revolving credit facility cost in the UK?
Cost structures vary between lenders, so it's important to understand what you're being charged for:
Interest rate — Applied to the amount you've drawn, not the full facility limit. The rate you're offered depends on your business risk profile, trading history, and the lender's pricing model. Rates vary widely, so always compare the total cost, not just the headline figure.
Arrangement or facility fee — Some lenders charge a one-time fee to set up the facility, or an annual fee to keep it available. This is separate from interest and should be factored into your total cost comparison.
Draw fee — Some lenders charge a small percentage each time you draw funds. Others don't. Check whether this applies before you commit.
Early repayment charges — Many lenders charge a fee if you repay ahead of schedule. Juice Flex does not. You can repay early without penalty, which can reduce your overall borrowing cost if your cash flow improves faster than expected.
The key question to ask any lender: what is the total cost if I draw £X for Y months and repay in full? This gives you a comparable cost figure regardless of how different lenders structure their fees.
Banks vs. specialist lenders: what's the difference?
Most UK business owners think of their bank when they think of business credit. But the market has changed considerably, and specialist lenders now offer a compelling alternative for many businesses.
| High Street Bank | Specialist Lender (e.g., Juice) | |
|---|---|---|
| Application process | Extensive — often 4–8 weeks | Faster — often days, not weeks |
| Documentation required | Extensive — years of accounts, business plans | Focused — bank statements, open banking connection |
| Relationship dependency | Often requires existing banking relationship | No prior relationship required |
| Credit limit | Can be large for established businesses | £25k–£1M at Juice Flex |
| Decision speed | Weeks to months | Much faster with data-driven assessment |
| Flexibility | Improving but historically rigid | Designed for SME flexibility |
| FCA registered | Yes | Yes (Juice is FCA registered) |
For most growing SMEs, especially those that need a decision quickly or don't have an established bank relationship, a specialist lender offers a more practical route to a revolving facility.
How to apply for Juice Flex: step by step
Juice has designed the application to be as straightforward as possible. Here's how the process works.
Step 1: Start your application online
Visit app.getmejuice.com/sign-up and create your account. No impact to your credit score at this stage.
Step 2: Tell us about your business
You'll provide basic information about your business: company registration, industry, monthly revenue, and how long you've been trading.
Step 3: Connect your financial accounts
This is the step that makes the biggest difference to speed. By connecting your business bank accounts and, optionally, your accounting software (Xero, QuickBooks, etc.), you give Juice a real-time view of your cash flow. This replaces months of manual document gathering and accelerates the decision.
Step 4: Receive your decision
Juice uses a data-driven approach to credit assessment. Once your accounts are connected, the assessment can happen quickly. You'll receive a decision and, if approved, your facility details, including your credit limit and pricing.
Step 5: Draw down when you need it
Once your facility is live, you draw what you need, when you need it. Transfer funds directly to your business bank account. Repay as your cash flow allows. The facility revolves.
Tips for a stronger application
A few practical steps that improve your chances of a favourable outcome:
Keep your accounts up to date. If you use accounting software, make sure it's reconciled. Lenders connecting to your books want to see accurate, current data, not months of uncategorised transactions.
Demonstrate consistent revenue. Lenders prefer to see stable or growing monthly revenue. If your business has had a difficult period, be prepared to explain it. Context matters.
Know your existing debt obligations. Be transparent about any existing facilities. Attempting to hide existing debt is a red flag and will likely be uncovered during the assessment anyway.
Understand your credit position. Check your business credit report before applying. If there are errors or old issues that can be resolved, addressing them before you apply will improve your position.
Apply for the right amount. Applying for a credit limit that's clearly disproportionate to your revenue signals that you haven't matched your needs to your capacity. A realistic application is more likely to succeed than an ambitious one.
The bottom line
Getting a revolving credit facility in the UK is more accessible than many business owners realise, particularly through specialist fintech lenders that have built their processes around SME needs rather than inherited them from decades of bank bureaucracy.
The application is straightforward. The eligibility criteria are transparent. And once the facility is in place, it gives your business a financial tool that grows with it.
If your business has been trading for at least 12 months, generates consistent revenue, and needs flexible working capital, you're likely a strong candidate.
Apply for Juice Flex — from £25,000 to £1,000,000. No impact to your credit score to apply. Subject to status and lending criteria.
For more on this topic, explore our Revolving Credit Facility resource hub.
Subject to status and lending criteria. Juice Flex is provided by Juice Ventures Limited, registered with the Financial Conduct Authority.