What are the Contigo Eligibility Criteria for UK businesses seeking flexible funding?

TL;DR: Term loans offer structured, long-term financing with fixed repayments, ideal for strategic investments.
Term loans are business loans characterized by a fixed repayment schedule and a predetermined end date, making them ideal for long-term strategic investments where your business is confident in its consistent ability to meet monthly payments. Unlike flexible credit lines, these structured business loans provide predictable financial planning, aligning with our Eligibility Criteria for UK-registered businesses demonstrating stable operations, such as 6+ months trading and a £50k+ turnover. They are best suited for projects where you’re confident in your ability to meet the payments every month.

TL;DR: Short-term loans provide quick capital for immediate needs, typically repaid within a year, with higher interest reflecting their speed and flexibility.
Short-term business loans are specifically designed for immediate capital requirements, typically offering a repayment term of one year or less and benefiting from rapid funding. While these loans offer crucial speed and flexibility, interest rates are generally higher compared to longer-term financing options, reflecting their immediate accessibility. To meet our Eligibility Criteria, your UK-registered business needs at least 6 months trading and £50k+ turnover, ensuring these loans are a responsible and effective solution for your urgent financial needs, within our £5k–£1m loan size range.

A Business Line of Credit offers flexible access to funds for a care home, ideal for managing immediate acquisition-related expenses or covering working capital gaps post-purchase. Unlike a rigid commercial mortgage, a Business Line of Credit provides an accessible pool of funds that care home operators can draw from as needed, up to a set limit. This alternative is particularly useful for bridging short-term financial gaps related to a property acquisition, such as renovation costs, initial staffing, or purchasing supplies before patient revenues stabilise. To qualify for this flexible financing, businesses generally need to meet specific Eligibility-Criteria, including Minimum-requirements: 6+ months trading, demonstrating a stable operational history. It typically suits UK-registered businesses seeking a loan size between £5k–£1m, offering a dynamic solution that a traditional mortgage cannot provide for day-to-day liquidity.

Equipment Financing provides capital specifically for purchasing essential care home assets, leveraging the equipment itself as collateral, making it a focused alternative for asset acquisition. When acquiring a care home property, there's often a significant need for new or upgraded equipment, from specialised medical beds and mobility aids to kitchen appliances and laundry facilities. Equipment Financing offers a dedicated solution for these purchases, distinct from a commercial mortgage focused solely on the property. The equipment itself serves as collateral, potentially making it easier to secure for UK-registered care home businesses meeting Minimum-requirements: 6+ months trading and at least £50k+ turnover. This allows a care home to acquire vital assets necessary for providing quality care, with loan sizes typically ranging from £5k–£1m, without tying up working capital or impacting a larger property loan.

Invoice Financing allows care home businesses to unlock cash from unpaid invoices for services rendered, providing immediate liquidity that can support post-acquisition operations. For a care home business, especially after a substantial property acquisition, managing cash flow effectively is paramount. Unlike a commercial mortgage which funds property, Invoice Financing converts your outstanding invoices from local authorities or private residents into immediate working capital. This helps avoid delays caused by long payment terms, ensuring funds are available for operational expenses, staff wages, or other immediate needs, rather than waiting weeks or months. Eligibility-Criteria typically include Minimum-requirements: 6+ months trading and a healthy £50k+ turnover, making it a viable option for established UK-registered care homes needing flexible funding, often within a loan size range of £5k–£1m, to sustain operations during growth or transition.

A Merchant Cash Advance provides upfront capital based on future credit and debit card sales, offering quick access to funds for care home businesses with reliable daily card transactions. For a care home that receives regular payments via credit and debit cards, a Merchant Cash Advance offers a rapid and flexible financing alternative, particularly when a commercial mortgage isn't suitable for immediate, smaller needs. Unlike traditional loans with fixed monthly payments, repayment is linked to a percentage of future card sales, adjusting automatically with your business’s revenue flow. This can be less burdensome during periods of fluctuating income, freeing up capital that might otherwise be tied to a mortgage. Eligibility-Criteria generally include Minimum-requirements: 6+ months trading, a consistent £50k+ turnover from card transactions, and being a UK-registered entity. It's often considered for loan sizes from £5k–£1m, proving a valuable tool for quick access to funds for unforeseen expenses or growth initiatives post-acquisition.

**TL;DR:** Contigo's core eligibility criteria for business loans require your business to be trading for at least 6 months, have an annual turnover of £50,000+, be registered in the UK, and seek a loan between £5,000 and £1 million.

To qualify for a Contigo business loan, we look for several key factors to ensure responsible lending and support sustainable growth. These minimum requirements include: a trading history of at least 6 months, an annual turnover exceeding £50,000, being a UK registered business, and applying for a loan size between £5,000 and £1 million. These criteria help us assess your business's stability and tailor the most suitable funding solution.

**TL;DR:** Contigo requires a minimum of 6 months trading history to confirm operational stability and an annual turnover of £50,000+ to demonstrate healthy revenue generation essential for loan repayments.

A trading history of at least 6 months demonstrates that your business is operational, has established some market presence, and has begun generating revenue. This provides us with initial insights into your business model and operational stability. For newer businesses past the initial start-up phase, this threshold helps us assess early-stage performance and future growth potential. An annual turnover of at least £50,000 is a key indicator of your business's revenue-generating capacity, showing a healthy flow of income essential for comfortably managing loan repayments and gauging your financial health.

**TL;DR:** Yes, Contigo exclusively works with businesses registered in the United Kingdom, offering flexible funding solutions that range from £5,000 up to £1 million.

As a UK-based financial provider, Contigo's expertise, regulatory compliance, and operational focus are firmly rooted within the UK business landscape. This requirement ensures we provide the highest level of service, adhere to relevant financial regulations, and support the UK economy directly, while also simplifying legal and administrative aspects. We offer flexible funding solutions ranging from £5,000 up to £1 million, catering to a broad spectrum of business needs from smaller working capital injections to significant expansion investments.

**TL;DR:** If your business meets the eligibility criteria, you are in a strong position to proceed with Contigo's swift application process; if not, you are encouraged to contact our team for advice and to discuss potential future qualification steps.

If your business aligns with the core eligibility criteria – including 6+ months trading, £50k+ turnover, UK registered status, and loan size within £5k–£1m – you are in a strong position for Contigo's funding solutions, and your application process will be swift. We encourage you to take the next step and explore our seamless application process. However, if you don't meet every criterion just yet, don't worry. We understand every business journey is unique. If you're close to meeting a criterion or have specific circumstances to discuss, we encourage you to still reach out to our friendly team for advice and to understand what steps you might need to take to qualify in the future.