Can a newly appointed director apply on behalf of the company?

Yes — a duly appointed director can apply on the company's behalf, however recently they joined, provided they have authority. The loan is to the company, assessed on its cash flow. What matters is that the director is properly appointed and authorised to bind the company. A director appointed last month can act for the company just as one appointed years ago. The lender needs to see that the person is a registered director with authority to borrow under the articles — length of service is not the test.

Can a newly appointed director apply on behalf

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Yesif authorised

Company borrowsnot the person

Check authorityboard approval

Authority, not tenure

A director appointed last month can act for the company just as one appointed years ago. The lender needs to see that the person is a registered director with authority to borrow under the articles — length of service is not the test.

What the lender checks

That the applicant is on the Companies House register as a director, ID for KYC, and that the board has authorised the borrowing. The company's cash flow is then assessed as usual.

Applying

Confirm your appointment and authority, then apply online.

Frequently asked questions

Do I need to have been a director for long to apply?

No. A properly appointed director can apply regardless of tenure, provided they have authority to bind the company under its articles.

What authority do I need to borrow for the company?

Board approval, and compliance with any borrowing limits in the articles or a shareholder agreement. The lender may ask to see that the borrowing was properly authorised.