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  • Business loans are available for companies of all sizes and industries
  • You can compare loan amounts and term lengths in our comparison tables
8 products found
    • Funding Circle logo
      Peer To Peer

      Funding Circle

      • Borrow £50,001 to £250,000 with the Government's CBIL scheme
      • Nothing to pay for 12 months - No upfront fees - No early settlement fees
      • Simple online application & decisions typically in 24 hours
      • Rates between 1.8% and 7.0% APR
      • Minimum Turnover
        £200,000+ p.a.
      • Available Amounts
        £50,001 to £250,000
      • Available Terms
        2 to 5 years

      Company details

      • Funding Circle, supporting small businesses for over 10 years
      • Used by over 57,000 UK businesses
      • All Funding Circle do is small business, as a result 9 out of 10 of their businesses would come back first next time

      Eligibility criteria

      • UK-based business - 3 years of trading history - Adversely affected by coronavirus
      • Loan primarily for trading in the UK
      • Annual turnover from £200K+ up to £45 million - Over 50% of turnover from trading activity (e.g. not from investments)
    • THINK Business Loans logo
      Broker

      THINK Business Loans

      • THINK's funding platform matches your businesses eligibility against hundreds of lenders instantly (without a credit check)
      • THINK are the UK's leading business lending specialists; their experts are on hand to guide you through the process
      • Find the perfect loan in minutes - Make the lender work for you
      • Minimum Turnover
        £50,000 p.a.
      • Available Amounts
        £25,000 to £10,000,000
      • Available Terms
        1 month to 30 years

      Company details

      Eligibility criteria

    • Portman Asset Finance logo
      Broker

      Portman Asset Finance

      • Business finance broker with specialist sector experience to offer fast and flexible finance solutions
      • Access over 40 leading UK business finance providers
      • Dedicated CBILS specialist account managers
      • Minimum Turnover
        £150,000+ p.a.
      • Available Amounts
        £10,000 to £10,000,000
      • Available Terms
        Up to 5 years

      Company details

      • Business finance broker with specialist sector experience to offer fast and flexible finance solutions
      • Access over 40 leading UK business finance providers
      • Dedicated CBILS specialist account managers

      Eligibility criteria

      • Business finance broker with specialist sector experience to offer fast and flexible finance solutions
      • Access over 40 leading UK business finance providers
      • Dedicated CBILS specialist account managers
    • Fleximize Business Loan logo

      Fleximize Business Loan

      • Voted "Best Business Finance Provider" at the British Bank Awards 2020
      • Industry-leading flexibility - top-ups, repayment holidays, no hidden fees
      • Interest charged on a reducing balance, repay early and only pay for the time you had the loan
      • Priority funding for all essential sector businesses that are trading through Covid-19
      • Minimum Turnover
        £60,000 p.a.
      • Available Amounts
        £5,000 to £500,000
      • Available Terms
        1 month to 4 years

      Company details

      • Voted "Best Business Finance Provider" at the British Bank Awards 2020
      • Industry-leading flexibility - top-ups, repayment holidays, no hidden fees
      • Interest charged on a reducing balance, repay early and only pay for the time you had the loan
      • Priority funding for all essential sector businesses that are trading through Covid-19

      Eligibility criteria

      • Minimum annual turnover of £60,000 p.a.
      • Borrow between £5,000 and £500,000
      • Business activities must be UK-based and impacted by Covid-19
    • The Start Up Loans Company logo

      The Start Up Loans Company

      • Interest rate of fixed 6% per annum
      • Receive business mentoring and support after drawing down your loan
      • No application fees or early repayment fees
      • Minimum Turnover
        No minimum
      • Available Amounts
        £500 to £25,000
      • Available Terms
        1 to 5 years

      Company details

      • Start Up Loans is a Not-For-Profit Company offering a finance and mentoring solution to start and grow a business
      • Start Up Loans have helped over 40,000 businesses get started in the UK
      • Free application support
      • Free post-loan business mentoring

      Eligibility criteria

      • Business is based in the UK
      • Trading for under 24 months
      • 18 years and over
    • EJ Finance logo
      Broker

      EJ Finance

      • Application-to-offer within 24 hours
      • To be contacted within 3 minutes of applying
      • Access to over 200+ lenders, covering all sectors
      • Minimum Turnover
        £25,000 p.a.
      • Available Amounts
        £10,000 to £5,000,000
      • Available Terms
        3 months to 10 years

      Company details

      • Application-to-offer within 24 hours
      • To be contacted within 3 minutes of applying
      • Access to over 200+ lenders, covering all sectors

      Eligibility criteria

      • Application-to-offer within 24 hours
      • To be contacted within 3 minutes of applying
      • Access to over 200+ lenders, covering all sectors
    • Funding Options logo
      Broker

      Funding Options

      • Funding Options' platform matches your eligibility with over 200 accredited lenders
      • A free no obligation service that won't affect your credit score
      • Dedicated CBILS business finance specialists
      • Minimum Turnover
        No minimum
      • Available Amounts
        £1,000 to £10,000,000
      • Available Terms
        1 month to 7 years

      Company details

      • Funding Options' platform matches your eligibility with over 200 accredited lenders
      • A free no obligation service that won't affect your credit score
      • Dedicated CBILS business finance specialists

      Eligibility criteria

      • Funding Options' platform matches your eligibility with over 200 accredited lenders
      • A free no obligation service that won't affect your credit score
      • Dedicated CBILS business finance specialists
    • Nucleus logo

      Nucleus

      • Fast service - receive your funding in 24 hours
      • Unsecured and secured business loans
      • 7 products tailored to your business
      • Minimum Turnover
        £5,000
      • Available Amounts
        £3,000 to £50,000,000
      • Available Terms
        3 months to 8 years

      Company details

      • Fast service - receive your funding in 24 hours
      • Unsecured and secured business loans
      • 7 products tailored to your business

      Eligibility criteria

      • Fast service - receive your funding in 24 hours
      • Unsecured and secured business loans
      • 7 products tailored to your business
Our comparison service features a selection of providers from whom we receive commission. This table is initially ordered according to our commercial arrangements. You can use the options above the table to order it according to various criteria.

How to choose a business loan

Most business owners will find themselves looking for extra finance at some point. Whether you are looking to expand, pay off debts, invest in new equipment or regulate your cashflow, a business loan is an option to consider.

The trouble is, finding the right business loan can be a daunting prospect. On the one hand, there’s traditional bank loans and on the other there are options like online lenders and alternative finance providers. Here at Know Your Money, we’ve put many of them in one accessible business loan comparison table, so you can find a loan to help nurture and grow your business.

Take a look through the table at the current deals on offer. Our business loan comparison tables break down the important factors like available loan terms and amounts. Not every deal will be right for you, but our tables are a good place to start when navigating the busy business loan marketplace. And to help you further, we’ve put together a simple guide to business loans below, which may help you to better understand your options when looking for finance for your business.

The main types of business loan

Secured business loans

Secured business loans are a type of business finance that requires you to put forward an asset - usually a property - as security for a loan. Secured loans often come with lower interest rates than unsecured loans as they represent less risk for the lender. They may also give you access to a larger loan amount over a longer term.

However, they come with the added risk that you could lose your property (often your home) if you struggle to keep up with the payments.

Commercial mortgages and asset-backed lending are two types of secured loan available to businesses.

Unsecured business loans

Unsecured business loans are those that don’t require security. Here are some of the main types of unsecured business loan – note that this is not an exhaustive list:

  • Bank loan: These tend to be offered by a major high street banks. They have been more difficult to obtain in recent years but are still a popular choice with established businesses with solid credit ratings.
  • Alternative business loan: Many alternative lenders and online banks will now offer business loans, usually through online-only platforms. Rates, terms and eligibility requirements differ from lender to lender.
  • Lines of credit: Lines of credit offer businesses the option of seeking a credit limit against which they can withdraw money as and when they need it. Interest is then paid only on the balance owed.
  • Merchant cash advance: Merchant cast advances, which are also sometimes known as business cash advances, are a type of business loan that is repaid automatically when a business takes a card payment from a customer. Merchant cash advances can offer finance for businesses that have poor credit ratings or a limited trading history.
  • Invoice financing: Invoice financing involves ‘selling’ unpaid invoices to a financier who makes the value of the invoice available to the business immediately in exchange for a fee.
  • Short-term loan: Short-term loans are straightforward business loans that are often offered over periods of months, as opposed to years. Cash is usually made available quickly, but interest rates can be high and loan amounts are often limited.
  • Peer-to-peer lending: Online platforms matching willing lenders (often either private equity investors or members of the public) with businesses that are seeking loans are a popular new finance model. Rates can be preferable, but eligibility might be relatively strict.

Choosing the right type of business loan

Although the vast array of options available may seem daunting, you’ll quickly find that your requirements and circumstances narrow the possibilities quite significantly. When comparing business loans, the table above is a good place to start as it shows the amounts a lender might offer and for how long. There is also some information about the minimum turnover your business will need to successfully apply.

Deciding which business loan is right for you needn’t be as difficult as you might think.

There are a few fundamental questions you can ask yourself to help you make your decision:

  1. How much do I need to borrow?
  2. How long do I need to repay the loan?
  3. How much can I afford to repay each month?
  4. Do I struggle with unpaid invoices?
  5. Do I hold equity in a property?
  6. Do I need the loan to buy a specific valuable asset?
  7. What’s my personal and business credit rating like?
  8. Do I take payment through a card machine?
  9. Do I need a lump sum all at once?

When you have the answers to these questions, you might be able to start narrowing down the list of possible business loans.

Finding the right business loan FAQs

Will my personal credit rating be taken into consideration when applying for a business loan?

Are there bad credit business loans?

Can you get business loans for new companies?

Are business loans regulated?

What can I use a business loan for?

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