Can sole traders or franchises apply through Best Business Loans?
Short answer: Not at the moment. Best Business Loans currently supports established UK limited companies and LLPs only, and we do not accept enquiries from sole traders or franchise businesses.
We act as an introducer, using AI to help eligible businesses find suitable lenders or brokers. We are not a lender and we don’t provide financial advice.
Updated October 2025
Who can apply today, and why
The current eligibility position
Best Business Loans can introduce enquiries for established UK trading businesses structured as Limited Companies (Ltd) or Limited Liability Partnerships (LLP). We focus on firms that are actively trading and can evidence stable operations.
At this time, we do not support start-ups, sole traders, franchises, property finance, or commercial mortgage applications. This is to keep our matching engine aligned with the lending appetite of our network.
If your business is a Ltd or LLP, our Quick Quote is available and free to use. You decide whether to progress with any provider we introduce.
Typical criteria we see from providers
- UK-registered Ltd or LLP, actively trading.
- Minimum trading history and turnover thresholds set by the provider.
- Clear use of funds, affordability, and standard ID/KYC documentation.
We don’t set lender criteria, and we can’t guarantee outcomes. Our role is to help you find relevant options faster.
Where a case is outside scope, we’ll say so clearly to avoid wasted time. That includes sole traders and franchise businesses for now.
Why this focus exists
Many providers in our network are set up to assess incorporated businesses with balance sheets, filed accounts, and directors. Those business profiles align with the finance categories our platform supports.
By keeping eligibility tight, we reduce mis-matches and improve the speed and relevance of introductions. That helps users get to a decision in principle more efficiently.
We review our coverage regularly and may expand as lender appetite evolves.
Why sole traders and franchises aren’t supported right now
Understanding lender appetite
Lenders set their own risk frameworks and specialisms. A large proportion prioritise incorporated entities, where liabilities, financial reporting, and underwriting processes are more standardised.
Sole traders are perfectly legitimate businesses, but their finance needs often fall under different policies, sometimes overlapping with consumer credit regulations. That mix can require different approval and compliance pathways.
Franchise finance is specialised, with funding often tied to franchisor agreements, franchise fees, and brand-specific performance metrics. Those cases benefit from niche providers and dedicated programs.
Compliance and clarity
We follow principles aligned with the FCA’s “clear, fair and not misleading” standard for financial promotions. That means setting expectations upfront about who we can help today.
If we cannot support a business profile, we will say so early to avoid wasted effort and misinterpretation. This includes sole traders and franchises.
We are an introducer, not a lender, and we don’t offer regulated financial advice. Any finance agreement will be provided by a third party that sets its own terms and eligibility.
Will this change in future?
Possibly. We continually assess lender coverage and sector appetite. If network capability expands to consistently support sole traders or franchise businesses, we will update our position.
For now, our matching focuses on Ltd and LLP entities across asset-rich and operational sectors. That’s where we can add the most value.
You can still explore the general guidance below to consider your next steps if you are a sole trader or franchise owner.
Practical next steps for sole traders and franchise owners
Options to consider if you are a sole trader
- Speak to your primary bank about business overdrafts, working capital, or simple term loans.
- Review British Business Bank guidance on accredited schemes and providers that accept sole traders.
- Consider invoice finance (if you trade B2B on terms), equipment finance, or merchant cash advance with specialist providers.
Always check the provider is appropriately authorised where required, and assess total costs and risks. Ensure affordability and have a clear plan for using and repaying the funds.
For government-backed schemes, consult official sources like the British Business Bank to verify active programs and accredited lenders before you apply.
Options to consider if you operate a franchise
- Ask your franchisor about preferred lenders or broker panels with franchise experience.
- Speak to your bank’s franchise team; many UK banks maintain franchise specialists and sector lists.
- Explore franchise association resources and events where niche lenders participate.
Franchise funding often depends on brand tenure, site viability, historic trading data, and personal guarantees. Specialist providers will outline documentation requirements.
Compare offers carefully and check all fees, repayment structures, and early settlement rules. Keep records of discussions and Key Facts documents where provided.
Documentation to prepare
- Photo ID, proof of address, recent bank statements.
- Management accounts, tax returns, or filed accounts where available.
- For franchises: franchise agreement, business plan, site projections, and franchisor letters of support.
Maintaining accurate, up-to-date financials helps speed up any assessment. Be ready to explain cash flow, seasonality, and how the finance will support growth or stability.
If you’re unsure, consider obtaining independent advice from a qualified professional.
If you are eligible (Ltd/LLP), how Best Business Loans works
Our four-step process
- Complete a Quick Quote in minutes with your business details and funding goal.
- Our AI analyses your profile and identifies potential matches in our network.
- We introduce you to relevant lenders or brokers for next-step discussions.
- You compare, ask questions, and decide what’s best for your cash flow.
Submitting a Quick Quote is free and without obligation. We do not guarantee approval or the lowest rate, but we aim to improve the relevance of your options.
Any offers will be presented by third-party providers, who will confirm documentation, affordability, and terms. You remain in full control of what you choose to pursue.
Finance types we can help eligible businesses explore
- Cash flow loans, fit-out finance, equipment and asset finance.
- Vehicles and fleet finance, invoice finance, and refinance options.
- Commercial finance for trading businesses and the Growth Guarantee Scheme, subject to provider criteria.
We commonly assist sectors such as construction, manufacturing, logistics, healthcare, retail, hospitality, and professional services. We also support funding for refurbishments, sustainability upgrades, and expansion projects.
If you operate in hospitality, you may find our guidance on restaurant loans and finance options helpful when planning a refurbishment or equipment upgrade.
What to expect after your enquiry
Introductions typically happen quickly after our AI analysis, subject to the details you provide. Providers may request further information to progress your eligibility check.
You’ll be able to ask questions, compare structures, and review indicative terms before you proceed. Transparent communication helps both sides reach a clear decision in principle.
We encourage you to consider total cost of finance, fees, security, and covenants as part of your evaluation.
FAQs, compliance and key takeaways
FAQs
Can sole traders apply through Best Business Loans? Not at this time. Our platform supports established Ltd and LLP businesses only.
Can franchise businesses apply through Best Business Loans? Not currently. Franchise finance is specialised, and we do not introduce franchise cases at the moment.
Who can apply today? UK Ltd companies and LLPs that are actively trading and meet provider criteria. We don’t handle start-ups, sole traders, or franchises.
Are you a lender? No. We are an independent introducer platform that uses AI to help eligible businesses connect with suitable providers.
Do you provide financial advice? No. Information on this page is for general guidance only. You should seek professional advice if you need personalised recommendations.
Are you FCA authorised? We do not offer regulated financial advice or consumer credit. Where required, introductions are made to FCA-authorised firms. Always check a provider’s regulatory status on the Financial Services Register.
How long does a decision in principle take? Timelines vary by provider and complexity. Completing the Quick Quote accurately and having documents ready can help speed up assessments.
Compliance notes
We aim for communications that are clear, fair, and not misleading, in line with UK advertising guidance. Eligibility, terms, APRs, and costs are set by third-party providers and will vary.
We do not guarantee approval or the lowest available rate. Quotes are subject to status, affordability, and underwriting.
If you are unsure about the suitability of any product, seek independent, regulated advice before committing.
Key takeaways
- Sole traders and franchise businesses cannot currently apply through Best Business Loans.
- We introduce established UK Ltd and LLP businesses to suitable lenders or brokers.
- Our AI saves time by narrowing options to relevant providers, but outcomes aren’t guaranteed.
- Sole traders and franchises should consider specialist routes via banks, franchisors, or accredited lenders.
- Submitting a Quick Quote is free and without obligation for eligible businesses.
If your company is a UK Ltd or LLP and you’re ready to explore finance, complete your Quick Quote to check eligibility. If you are a sole trader or franchise owner, use the guidance above to find the most appropriate next step for your situation.
Your information is handled securely and shared only with relevant finance professionals where necessary to progress your enquiry. For help, email hello@bestbusinessloans.ai.