February 6, 2023


Business/Industrial Goods and Services

Small Business Loans Uk small business loans

If you’d like to know more, please ask your Business Manager for more details. You are able to use another provider to manage your business banking while retaining your business loan with us. No, you are not required to open or maintain a business current account with us in order to obtain or manage a business loan. No, but you do need to have a business account with another bank to apply for a business loan with us. A business loan is a straightforward way to finance your business.

  • Apply for an unsecured business loan if you need a quick and straightforward way to finance your business.
  • We don’t require detailed business plans or an in-person meeting.
  • The Improvement Grant scheme provides financial assistance to owners or tenants of business properties that have become rundown and have deteriorated over time.
  • However, repaying your loan on time could help to improve a poor rating, so applying for a loan when you are in a position to repay it could prove advantageous.
  • Although interest rates are usually fixed, they can be variable, meaning it can go up or down at any time during the loan term.

To help you with a general idea of costs you can use our dedicated small business loans calculator. Keep cash flowing – Cash flow can be a tricky part of business management. A short-term business loan could give you the breathing space you need to overcome potential issues. When taking out finance, it’s essential to consider every aspect of the loan agreement. Getting a business loan from a traditional high street bank can be challenging if you haven’t been trading for long or have a bad credit history. See how to get a business loan as a limited company in the UK, and how much you can borrow.

What Is The Annual Percentage Rate On A Small Business Loan?

Borrow £1,000 to £25,000 fixed or £25,000+ on flexible terms. Loans up to £25,000 have a representative rate of 7% APR . Accredited for the Coronavirus Business Interruption Loan Scheme loan. A privately funded lender, not regulated by the Financial Conduct Authority.

We are focussed on providing a lending application process that allows customers easy access to our broad selection of lending options. If your business needs to dip in and out of extra funds at short notice, you can pre-arrange flexible funding in the form of an overdraft. You can agree a limit and interest rate upfront, so you’ll always know where you stand. Business loans sometimes have set-up and arrangement fees.

Business Loans

They also have unsecured business loans, business funding, business loans for bad credit and franchise financing. To qualify for a small business loan, you must be registered to operate as a UK-based business. Most lenders will typically finance limited companies and sole traders that have been trading for over two years. However, start ups, small businesses and those with poor credit scores will also be considered for finance. With competitive interest rates and flexible repayment terms, our range of loans offers peace of mind for all business owners. These short-term business loans are suitable even if the business has been trading for less than six months.

As a credit broker, we introduce applicants to a range of different business loan providers. SME Loans will never charge any fees, but we may receive a commission or finder’s fee for fulfilling such introductions. Revolving credit facilities typically run for 1-2 years, so they are also an example of short-term business financing. If you want to make greater investments or need longer-term funding, you might want to consider secured loans instead. Unsecured loans work well if you are considering a loan for a short term.