Card machine loan eligibility: do you qualify?
By Helm, Funding Specialist
- You need at least £10,000/month in card machine sales
- 3 months minimum trading history required
- Credit score is not the main factor
- All UK business structures qualify
- All major card machine providers are accepted
Card machine loan eligibility is refreshingly simple compared to traditional bank finance. If your business processes regular card payments, you are likely to qualify regardless of your credit history.
Core requirements
Most providers look for:
- A UK-registered business
- At least 3 months processing card payments
- Minimum £10,000 per month through your card machine
- An active card terminal or payment gateway
- A UK business bank account
Credit and financial history
Unlike bank loans, card machine loan providers focus on your card revenue rather than your credit score. Businesses with CCJs, defaults, and poor credit are regularly approved.
Most providers run a soft credit check for identity verification. This does not affect your credit score.
Eligibility by monthly card volume
Your monthly card machine volume determines both eligibility and the amount available.
| Monthly Card Volume | Eligibility | Typical Amount Available |
|---|---|---|
| Under £10,000 | May not qualify | N/A |
| £10,000 to £15,000 | Some providers accept | £10,000 to £15,000 |
| £10,000 to £15,000 | Most providers accept | £10,000 to £22,500 |
| £15,000 to £50,000 | Strong candidate | £15,000 to £75,000 |
| Over £50,000 | Very strong candidate | £50,000 to £150,000+ |
Business types that qualify
Any business that processes card payments can apply.
- Restaurants, cafes, pubs, bars
- Retail shops and boutiques
- Hair and beauty salons
- Hotels and B&Bs
- Dental and medical practices
- Garages and MOT centres
- Takeaways and food trucks
- Ecommerce businesses
Frequently asked questions
Can a sole trader get a card machine loan?
Yes. Sole traders are fully eligible as long as they process card payments and meet the minimum threshold.
Do I need to have been trading for a long time?
No. Most providers require just 3 months of card processing history.
Does my card machine provider matter?
No. Most card machine loan providers work with all major UK processors.
Can I apply if I already have a loan?
Yes, but existing debt may affect the amount offered. Be transparent about your current commitments.