Merchant funding eligibility: do you qualify?
By Helm, Funding Specialist
- Card revenue is the primary eligibility factor
- Most providers need £10,000+/month in card sales
- 3 months minimum trading history
- All business structures qualify
- Bad credit does not disqualify you
Merchant funding eligibility is refreshingly straightforward. If your business processes regular card payments, you are likely to qualify regardless of your credit history.
Core requirements
Most UK merchant funding providers require:
- UK-registered business
- 3+ months of card processing history
- £10,000+ monthly card transactions
- Active card terminal or payment gateway
- UK business bank account
Credit score requirements
Unlike bank loans, merchant funding does not rely on credit scores. Providers focus on your card revenue data. Businesses with CCJs, defaults, and poor credit are approved regularly.
Eligibility by card volume
Your monthly card volume determines both eligibility and the amount available.
| Monthly Card Volume | Eligibility | Typical Amount |
|---|---|---|
| Under £10,000 | Limited options | Up to £10,000 |
| £10,000 to £15,000 | Some providers | £10,000 to £15,000 |
| £10,000 to £20,000 | Most providers | £10,000 to £30,000 |
| £20,000+ | All providers | £20,000 to £100,000+ |
Industries with highest approval rates
Any card-processing business can apply. Sectors with the highest volumes include:
- Restaurants and hospitality
- Retail shops
- Hair and beauty salons
- Dental and medical practices
- Hotels and accommodation
- Cafes and coffee shops
Frequently asked questions
Can I apply with a mobile card reader?
Yes. SumUp, Square, Zettle, and other mobile readers all qualify.
Do I need to provide collateral?
No. Merchant funding is unsecured.
Can a new business qualify?
You need at least 3 months of card processing history.
Does my card provider matter?
No. Most merchant funding providers work with all major UK processors.