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Business loans

Compare the best business loans

A business loan can be the crucial first step in getting your business off the ground, or helping it expand at a later date if you don’t have the necessary capital to fund it yourself. Start your comparison today.

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Best Business Loans

Best Business Loans

We found 26 products in total, of which 2 have links to providers.

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  • The Co-operative Bank Fixed Rate Loan
    Rate
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    Fixed: Available
    Margin
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    N/A
    Min/Max advance
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    £250K - £10m
    Term
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    1yr to 5yrs
    Fee
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    Negotiable
  • The Co-operative Bank Variable Rate Loan
    Rate
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    Variable: BBR
    Margin
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    Negotiable
    Min/Max advance
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    £25,020 - £10m
    Term
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    1yr to 20yrs
    Fee
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    Negotiable
  • Bank of Scotland Base Rate
    Rate
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    Variable: BBR
    Margin
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    Negotiable
    Min/Max advance
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    £1K - Negotiable
    Term
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    0yr to 25 yrs
    Fee
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    Up to 1.5%
  • Bank of Scotland Commercial Fixed Rate
    Rate
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    Fixed: Available
    Margin
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    N/A
    Min/Max advance
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    £1m - Negotiable
    Term
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    1yr to 25yrs
    Fee
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    Up to 1.5%
  • Bank of Scotland Defined Break Cost Fixed Rate
    Rate
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    Fixed: Available
    Margin
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    N/A
    Min/Max advance
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    £50,001 - £1m
    Term
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    1yr to 25yrs
    Fee
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    Up to 1.5%
  • Bank of Scotland Fixed Rate
    Rate
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    Fixed: Available
    Margin
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    N/A
    Min/Max advance
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    £1K - £50K
    Term
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    1yr to 10yrs
    Fee
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    Up to 1.5%
  • Barclays Bank UK Barclayloan for Business over £25K
    Rate
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    Variable: Available
    Fixed: Available
    Margin
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    Negotiable
    Min/Max advance
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    £25001 - Negotiable
    Term
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    Max 20yrs
    Fee
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    Negotiable
  • Barclays Bank UK Barclayloan for Business under £25K
    Rate
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    Variable: Available
    Fixed: Available
    Margin
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    Negotiable
    Min/Max advance
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    £1K - £25K
    Term
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    Max 10yrs
    Fee
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    None
  • Cynergy Bank Business Loan
    Rate
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    Variable: BBR
    Fixed: Available
    Margin
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    Negotiable
    Min/Max advance
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    £1m - Negotiable
    Term
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    Max 10 yrs
    Fee
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    Min 1%
  • Danske Bank Business Variable Repayment
    Rate
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    Variable: BBR
    Margin
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    Negotiable
    Min/Max advance
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    £25K - Negotiable
    Term
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    1yr to 25yrs
    Fee
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    Negotiable
Note

Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment either if you click the links or if you use their services after you click through to their site. All information is subject is subject to change without notice. Please check all terms before making any decisions.

Disclaimer

All rates are subject to change without notice. Please check all rates and terms with your lender or financial adviser before undertaking any borrowing. ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT. A CREDIT ASSESSMENT WILL BE REQUIRED. YOU SHOULD NOT APPLY FOR AN AMOUNT THAT YOU CANNOT AFFORD TO REPAY NOW AND IN THE FUTURE.

The list of business loan providers on this page is a selection of services available and gives you an idea of the kind of options available. You can find out more about the individual products by visiting any of the providers listed. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfactscompare.co.uk will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfactscompare.co.uk recommends you obtain independent financial advice.

Provider Links

‘Go To Provider's Site’ links are where we have an arrangement with a provider so you can move directly from our site to theirs to view more information and apply for a product. We also use ‘Speak to A Broker’ links where we have an arrangement with a preferred broker to move you directly to their site. Depending on the arrangement we may receive a modest commission either when you press a 'Go To Provider's Site' or 'Speak To A Broker' button, when you call an advertised number or when you complete an application following a link from our website.

Business loans explained

What is a business loan?

Businesses need to grow, and this often requires funding. As a start-up you could look for an investor to bolster your capital, but this means you’ll likely need to give up some of the ownership in your company.

As an alternative, you could opt for a business loan.

A business loan is when your business borrows money from a lender and repays this sum over a certain period at a rate of interest. It can be likened to a personal loan, where an individual would borrow money to pay for car, home renovations, or to consolidate debt. However, there are some key differences to remember. 

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How do business loans work?

Unlike personal loans, business loans can be secured or unsecured.

The difference between secured and unsecured loans is explained in more detail in a separate guide, but in essence some business loans require you to put up a form of collateral if you fail to meet your repayments. This collateral can be your business premises, stock, or another valuable asset.  

In addition, some business loans are also unregulated.

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The benefits of a business loan

Taking out a business loan can come with a range of benefits.

According to our preferred brokers at Watts Commercial, an unsecured business loan doesn’t come with any early repayment charges and can be approved within 48 hours.

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How to get the best business loan

Make sure to use the charts above to compare the best rates on the market. This should help you identify some of the best business loans available, including the minimum advances and terms on these products.

Otherwise if you still find the process of finding an applying for a personal loan daunting, then why not consult a broker? Our partners at Watts Commercial are one of the UK’s fastest growing independent financial consultancies. You can speak to them today about the best lending options available to you. 

What do I need to apply for a business loan?

To qualify for a business loan, you and your business must meet a range of different requirements.

You’ll need a form of ID and proof that your company is a registered entity. This is just the start, as you’ll also need to show bank statements for your account and your results over a certain period.

At this stage we’d like to point out that you can get a business loan if your company has been trading for less than two years. You might not be able to qualify for some offers, but there are lenders who can provide you with some form of financing.

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Invoice finance and asset finance

Who can get a business loan?

Anyone who’s over the age of 18, a UK resident and owns or is starting up a business can apply for business loans in the UK.

Does my personal credit score affect my application for business

In addition to your business’s information, your personal information can also have an impact on your application for a business loan.

If you have a poor credit history this could slightly impact the type of rates you’ll be offered, however it won’t define your application. Lenders place a greater emphasis on your business’s health, so make sure you’ve done all you can to improve this first.

With that being said if there is a county court judgement (CCJ) against your name some lenders won’t do any business with you, no matter the state of your business’s finances.  

Business loans and bad credit

Can I get a business loan with bad credit?

Lenders typically place a greater emphasis on your business’s credit score than your personal one. So if you have a poor business credit score you may not qualify for the best rates.

Can you get a business loan without a credit check?

It is almost impossible to gain access to a business loan without some form of credit check. This is despite the fact that some business loans are unregulated.

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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.