Best Small Business Loans In The Uk

If your loan is £75,000 or more, you can stretch that to five years. To apply you’ll need to have a business registered in England and be a homeowner in England. You need to stump up three months of bank statements and a full set of business accounts. It’s geared towards small businesses who would benefit from cash flow payments, like expanding premises, recruiting or filling a cash flow gap.

Capital repayment holidays of up to two years may also be available. If you’re trading in a partnership, LLP or limited company you will also need to provide three years’ address history for each of the directors/partners applying for funding. Secured loans of up to £25,000 are also available, allowing you to stretch your repayments to 20 years and go interest-only. If that doesn’t work for you, you can opt for its asset finance product. High street banks will provide the standard loans you’ll recognise – you borrow money upfront and pay it back over a pre-agreed term with interest. If you’re worried, you can seek out a firm who will perform a ‘soft’ credit check, so it won’t affect your credit score.

If you are in the early stages of planning your business or you are already into your first few months of trading, we can help you with our business loans for startups. Through a UK government-backed startup loans partnership, we are best placed to offer a funding solution to get your business idea off the ground. For more information about this scheme click here or use our business startup loans calculator.

A 3 or 6-month repayment holiday is available at the start of the loan. If this option is taken, interest is charged throughout the 3 or 6- month period, meaning the amount of interest you pay will be higher. With Fleximize you can land a loan with penalty-free early repayments and repayment holidays. With Barclays, you can borrow up to £100,000 over 1-10 years, taking a six-month repayment holiday at the beginning of your loan if you wish.

We’ll need to see certain identification documents and financial statements when you apply. We’ll try to give you a full decision within a few days but sometimes, we may need a little more information from you. We’ll need to see certain documents and financial statements when you apply.