Loans for Sole Traders | Quick Decision | Borrow £50k–£500k
Loans for sole traders – funding without a limited company
Being a sole trader shouldn’t limit your access to funding. Borrow £50,000-£250,000 based on your trading history and income, not your business structure, with fixed monthly repayments you can plan around.
- Soft credit check — no footprint
- No early repayment fees
- Funds in as little as 48 hours
- Human decisions, not just algorithms
What is a sole trader business loan?
Sole trader loans are unsecured funding assessed on your trading history and income as a sole trader, rather than requiring a limited company structure. You borrow a fixed amount, repay it in predictable monthly instalments, and use it for whatever your business needs.
Sole traders commonly use this funding to cover:
Cash flow gaps
Bridge the space between an outgoing cost and money coming in from clients or customers.
Equipment and tools
Fund the kit needed to take on more or larger work.
Growth and expansion
Take on premises, staff, or stock as the business grows beyond what one person can manage alone.
Tax bills
Cover a self-assessment tax payment on account without disrupting working capital.
WHAT'S INCLUDED
£50,000 – £500,000
Loan amount
6 – 60 months
Repayment term
No assets needed
Unsecured lending
Fixed monthly payments
No surprise charges
No early repayment fees
Repay whenever you're ready
Won’t affect your credit score
Eligibility
Am I eligible for financing as a sole trader?
We lend across all sectors. Meet the basics below and there’s a strong chance we can help.
Based in the UK
Registered with HMRC as self-employed and actively trading in the United Kingdom.
Trading 6+ months
A shorter history requirement than we ask of limited companies.
£20,000+ annual turnover
Enough income to service the loan comfortably.
Not currently insolvent
No bankruptcy, IVA, or unpaid CCJs.
You're the applicant
As a sole trader, you apply and are personally responsible for the loan.
What we offer
What do I need to apply for a tax bill loan?
Some of the documentation that may be required when you apply includes:
UTR
Your Unique Taxpayer Reference (UTR) from HMRC
Tax return
Your most recent self-assessment tax return, or an accountant’s reference if newly trading
3–6 months of bank statements
To understand your trading performance.
Annual turnover
Confirmation of annual turnover (£20,000 minimum)
Your contact details
Name, email and phone number.
We welcome applications from limited companies, sole traders, partnerships, and LLPs — including businesses with an imperfect credit history.
The process
How do I apply for a sole trader loan?
Simple, fast, and built around the paperwork you will already have as a sole trader.
Apply in minutes
Use our quick online form. Tell us the tax bill you need to cover and how much you need.
Soft credit check
We check your eligibility without leaving a mark on your credit file.
We say yes
A real person reviews your application and comes back to you within 24 hours.
Money in your account
Sign your agreement and the funds are on their way - often the same day.
What do I get with a sole trader loan?
Borrowing as a sole trader comes with its upsides, but it is still important to be aware of any potential drawbacks.
- Advantages
- No limited company or Companies House filing required
- Assessed on your actual trading evidence - bank statements and self-assessment
- Fixed repayments - easy to budget around
- Decision in 24 hours
- Repay early with zero penalties
- Shorter trading history accepted than most limited company lending
- Disadvantages
- As a sole trader, you're personally liable for the loan - there's no separate legal entity to limit that exposure
- Total cost is higher than paying outright
- Rate depends on trading history and personal credit profile
- Loan amounts can be smaller than those available to established limited companies
Costs
How much will sole trader finance cost me?
Your rate is personalised and confirmed before you commit. Based on our representative APR of 18.9%, here are some illustrative examples:
| Loan amount | Acceptance | High street bank | Total repayable |
|---|---|---|---|
| £50,000 | 24 months | £2,510 | £60,240 |
| £100,000 | 36 months | £3,640 | £131,040 |
| £200,000 | 48 months | £5,820 | £279,360 |
| £350,000 | 60 months | £9,030 | £541,800 |
| £500,000 | 60 months | £12,920 | £775,200 |
18.9%
What fees are there?
None hidden. Interest is built into your fixed monthly repayment — that’s the only cost.
Can I get a loan as a sole trader with less than a year’s trading history?
Usually, yes. We ask for a minimum of 6 months’ trading, shorter than the 12 months typically required for limited company lending, and we’ll look at your bank statements and self-assessment evidence.
Work out your loan
What will my sole trader loan repayments be?
Get an instant estimate. No credit impact.
- Finance £50,000 to £500,000
- Terms from 6 to 60 months
- No early repayment penalties
- Use the funds however your business needs
Your loan estimate
Illustrative only. No impact on your credit score.
Representative APR 18.9%. Subject to status and eligibility. For illustrative purposes only.
Your actual rate may differ. See full calculator
Features
What do you get with an Acceptance sole trader loan?
Borrow £50k – £250k
Choose the exact amount your business needs.
6 to 60 month terms
Pick a term that matches your cash flow.
Can I repay my loan early?
Yes, at any time with zero penalties. You only pay interest for the period you held the loan.
No limited company needed
Apply as yourself, using the trading evidence you have.
Put it to work
What can I do with sole trader funding?
Whatever stage your business is at, here’s what sole traders use this funding for.
- Buy tools, equipment, or a work vehicle
- Cover a self-assessment tax bill
- Buy stock ahead of a busy period
- Bridge a gap between finishing a job and being paid for it
- Take on premises or a member of staff
- Fund training or a qualification to grow the business
Common questions about loans for sole traders
Can a sole trader get a business loan without a limited company?
Yes. This loan is designed specifically for sole traders and doesn't require incorporation or Companies House registration - it's assessed on your trading evidence as a self-employed individual.
Am I personally liable if I can't repay the loan?
Yes. As a sole trader, there's no legal separation between you and your business, so you're personally responsible for repaying the loan, in the same way you're personally responsible for the business's other debts and obligations.
What documents do I need instead of company accounts?
Your Unique Taxpayer Reference, recent bank statements, and your most recent self-assessment tax return. If you're newly trading and don't yet have a full year's self-assessment, an accountant's reference can support your application instead.
Will applying affect my credit score?
No. We run a soft credit check to assess eligibility, which leaves no mark on your credit file.
How quickly can I get a loan as a sole trader?
Most applicants receive a decision within 24 hours, with funds released in as little as 48 hours.
Can I repay the loan early if my cash flow improves?
Yes, at any time with zero penalties. You only pay interest for the period you held the loan.
Explore more
Other ways Acceptance can fund your business
Business credit line
Flexible, revolving funding to smooth out cash flow between tax and payment deadlines.
Asset finance
Fund vehicles, machinery, equipment, and technology without paying the full cost upfront.