Whit coonts as a "wholly or predominantly business" purpose

Summary: whan yer company borraes frae us, ye confirm the lendin is for a "wholly or predominantly business" purpose. This short phrase is pairt o whit keeps the lendin ootwith the consumer-credit regime.

The test

The siller maun be for the business — for example stock, equipment, or a cash-flow gap — no for a director's personal spendin. That is why ye sign a declaration tae that effect. We wadna lend tae a company for a director's personal spendin.

Scots summary — the hale English version o this airticle is the authoritative ane. Read the hale airticle in English