The Application Process

How Do You Apply?

You can start your application right now by heading to the Apply page of our website, we will need some personal information from you as well as brief detail about your business.

What Happens Then?

The personal information you provide in your application will be input into the Start Up Loans database, if you have already made an application directly through them we won’t be able to add the information but you can request a transfer of your current application to us. This is a straight forward process and further information about this is available in the FAQ at the bottom of this page.

Once your information has been added to the Start Up Loans database we will request that they complete a full credit check against you. This is a personal check and will show to other credit providers that a seearch has been conducted. This can have an impact on your credit score.

Based on the results of the credit check we will request more information from you

What We Need From You?

If you have passed the credit check we will request the following information from you;

  • A full business plan and cash-flow forecast (a template will be sent by email but you can also download a copy of the current version of our template HERE)
  • Copies of personal bank statements covering the most recent three months of activity

Depending on the type of business you’re looking to start and the results of the credit check we may also need other documents which could include, but is not limited to;

  • Proof of your identity
  • Proof of your address
  • A draft lease agreement for the premises you plan to trade from
  • A draft franchise agreement for the business you plan to open
  • Copies of business bank statements
  • Evidence of your own stake into the business you plan to operate
  • Copies of certificates illustrating your qualifications to operate the business you plan to open
In instances where we request these documents, it will only be if they appear relevant to your application or business

Does it matter if I have already applied for a Start Up Loan?

It depends on your situation:

  • Active application: If you have an active Start Up Loan application, contact them directly to request they transfer it to us for Sharia-compliant financing.

  • Past application (no longer active): You'll need to restart the Start Up Loans application process. Once you've passed their initial credit stage, you can request a transfer to us.

  • Past approval and loan: You are not eligible to apply with us if you've already received a Start Up Loan.

  • Past decline within the last six months: You must wait at least six months from the date of your decline before applying for any Start Up Loan again.


How does my credit affect the application?

e do a standard credit check to see how you've handled past credit accounts (for example, phone bills or credit cards). We don't focus on your credit score itself. Our main concern is whether you have a history of making on-time payments and a manageable amount of existing debt.



Why do you need to see copies of my bank statements?

As with any application for finance, proof of your ability to afford the repayments is a very important factor in our decision process. While we understand that your circumstances will be changing when you have opened the business, we are still required to firstly assess your current relationship with finance and also to check if you have a reasonable and realistic back up plan for repayment if your business is not successful.

Do I need to be a Muslim to apply?

No, we accept applications from people of any faith. The business itself would need to be Sharia compliant however so you should think about if this would limit the types of activity your business could conduct.

What if I change my mind about applying once I've started?

If you change your mind about making an application, you can withdraw this at any time.