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Qualify For A Great Business Loan Deal?
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Five Business Loan Providers That Could Take Your Business to the Next Level

Every business needs a boost at some point, these providers could give you one

Please note the information below is accurate on the day of publication (date) and, though Commercial Experts endeavour to keep this page updated with the latest changes, some information may be inaccurate. Always make the necessary checks before taking out a loan.  

 

Please also be aware that we don't directly work with all of the providers on this list. This article is aimed at giving you an idea of the options available. 

How a Business Loan Could Help Your Business

Business loans are essential for many businesses, regardless of their size or industry. Whether starting a new business, expanding your existing business, or you simply need to cover unexpected expenses, a business loan could help you sustain your growth. 

 

There are a number of different lenders to choose from and it's important to take time when you choose which lender is best for you, as interest rates and terms can vary widely. The best approach is a carefully measured one that considers a variety of factors. 

Looking for The Best Business Loan?

As you've read above, the best loan for your business depends on your specific business and its needs. There is no single 'best loan provider', which is why it can be hard to find the best one out there. 

 

This article aims to make finding one a little bit easier; we will list several business loan providers, and provide a brief overview of each of them, including their loan products, interest rates, and eligibility requirements.

Qualify For A Great Business Loan Deal?
Find Out In Minutes

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Start Your Application Now

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  • %%INSERTTEXT0%%
  • %%INSERTTEXT1%%
  • %%INSERTTEXT2%%
How much would you like to borrow?
50,000
  10,000   50,000   100,000   150,000   200,000+
Merchant account suppliers
  • Worldpay Limited
  • Take Payments Limited
Our Partners
  • EMGI Limited
  • Finbiz Funding Limited t/a Bizcap
  • LDF Operations Limited
  • Lending Box Ltd
  • Rise Funding Limited
  • Risecap Limited
  • Swoop Funding Limited
  • Take Payments Limited
  • TIGER LION FINANCIAL LIMITED
Our Partners
  • Consultiv Utilities Limited
  • Path Energy ltd
  • Utility Bidder Limited
Our Partners
  • Barclays Bank PLC
  • CommercialExperts.com
  • Fiserv (Europe) Limited
  • Handepay Limited
  • ResQ Limited
  • SumUp Payments Limited
  • Take Payments Limited
  • Teya Services Limited
  • The Redwood Group and Associates Limited
  • Tide Platform Limited
  • WorldPay (UK) Limited
  • Yotta Digital Ltd
Our Products
  • Business Accountancy
  • Business Epos Systems
  • Business Telephone Systems
  • Commercial Waste Collection
  • Digital Marketing
  • Fleet Tracking
  • Invoice Finance
  • Merchant Accounts
  • Website Design

Cube Funder

Cube Funder provides business loans to both large businesses and SMEs. It offers a variety of loan products, including unsecured business loans, secured business loans, and asset finance. The lender lends money directly to businesses and offers a wide range of loan products to suit the needs of different businesses.

 

With its flexible lending criteria, willingness to consider businesses with poor credit scores and quick decision-making, Cube Funder could be a good choice for small businesses looking for a helping hand. 

Walmoor

Walmoor specialises in providing small businesses with flexible loans, and with the option to borrow £500,000, it could be well placed to provide your business with whatever it needs. 

 

The repayments are flexible and feature no early-payment fees and you're not held to tight schedules either. There are also high approval rates, with 90% of companies being approved. It doesn't lend money to sole traders or simple partnerships, which is something to keep in mind. 

British Business Bank

The British Business Bank is a government-owned economic development bank established by the UK Government. Its primary objective is to increase the supply of credit to small and SMEs in the UK, as well as providing business advice services. 

 

Through its various programs and partnerships, the bank aims to address market gaps and help smaller businesses thrive in the UK economy. It offers loans to businesses with a limited trading history, with repayment terms of up to five years. Successful applicants also receive free mentoring for 12 months.

HSBC

The HSBC Small Business Loan offers one of the lowest representative APRs of 11.3% (for loans under £10,000).

 

Small businesses can borrow between £1,000 and £25,000 with no minimum trading period or turnover. Although a personal guarantee is typically required, there are some exemptions for sole traders and small partnerships.

Capify

As well as loans, and in a similar way to British Business Bank, Capify offers free business advice to its customers, so if you're a business still finding its feet, they could be a good option for you. Its efficient application process means that decisions can be made within 24 hours and, unlike many loan providers, they also offer loans to businesses with poor credit histories.

 

The loans they offer, which are between £5,000 and £500,000, have tailored repayment terms and make Capfiy a good option for businesses of all sizes looking for a business loan. 

LenderWhat's the interest rate?How long is the repayment term?How much can you borrow?
Cube FunderAssessed on application3 to 12 months£5000 - £100,000
WalmoorFrom 8%6 months to 10 years£1000 - £500,000 
British Business BankFrom 6%1-5 years£5000 - £25,000
HSBCFrom 11.3%1-10 years£1000-£25,000
CapifyAssessed on applicationFlexible£5000-£750,000

Search for a Business Loan Today

One of the best ways to find the best business loan deals is to research the different loans available to your business. Weighing up your options helps you to pick the best option for you, so doing so could be in your interest. 

 

We could help you find a business loan. Click the button below and provide some information about your business to start the process. 

FAQs

Your Questions Answered

A business loan is a loan that is specifically designed to help businesses grow and succeed. Business loans can be used for a variety of purposes, such as starting a new business, expanding an existing business, or purchasing new equipment.

There are a variety of different types of business loans available. They can be secured, where the loan is secured against collateral, or unsecured, where there is no collateral.

 

Loans can also be long-term or short-term, which means you may have the choice to repay your loan over a time period of your choice. Merchant cash advances, meanwhile, are less common and involve the payments being paid as a percentage of daily sales.

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Getting a Business Loan to Buy an Existing Business

What is a Business Loan?A business loan is like any other loan, but one that is used specifically for business-related purposes. It's often one of the first things businesses consider when they want to raise capital.  Loans can be taken out to pay for exciting expansion plans, to buy new stock or specialised equipment, or, in some cases, they can be used to buy an existing business. Can You Borrow Money to Buy a Business?Yes, you can borrow money to buy a business. It's something many entrepreneurs do each year and it can often prove to be a quicker route to running a successful business.  Starting a business from scratch is a time-consuming process. It comes with numerous risks and challenges, whereas buying a business, though it's not risk-free, can be an easier, quicker and therefore preferable option. The Advantages of Buying an Existing BusinessBuying an existing business can often be a better option than starting one from scratch. The business you're buying is likely to have already established offices or premises and, more importantly, it may even already have an established brand and pre-existing customer base. These things are the result of years of work, and buying a business that has them in place already means you're able to bypass this work.  You'll also bypass many of the fees associated with starting a business, such as paying to get it registered, start-up costs like Wi-Fi, consultancy fees, and stock. All of this could, in the long run, save you money and is almost certain to save you time in the short to medium term. Getting a Business Loan to Buy a BusinessIf you want to buy an already-established business, various financial choices are often available. One option is securing a loan from a bank or building society, as you would for a mortgage. One of the main things that a lender will look at when evaluating your application is the business you are hoping to buy. Its financial track record will play a big part in how much you are able to borrow. If the business is in good financial condition, you will be able to borrow more because the bank will have more confidence in recouping the loan. A business in bad condition will therefore only warrant a smaller loan. Other factors, such as your own financial condition and value of assets will also be taken into account by a lender when they are assessing your borrowing capabilities. Get a Business Loan TodayIf you do decide that a business loan is the best way to finance buying the business you want, we can help. Just answer some basic questions about your finances and, using this information, we will find the most suitable loan provider for you. It's completely free and non-committal, so tap the button to get started. 

Government Business Loans: Your guide

Does the UK Government Offer Business Loans?There are several UK government loans available for business in the UK. At the time of writing this, there are 29 business loan schemes currently on the Government's website aimed at easing access to trustworthy sources of business loans. Some of them are catered to specific business sectors and industries, while others are catered to specific regions and locations. The Government's list may be a good place to start if you or your business is looking for a reliable place to secure a loan. The Government Start-Up LoanAs well as having schemes in place to help businesses find a loan, the UK Government also provides loans to businesses themselves. The Start-Up loan scheme is popular amongst small businesses in the UK. Unlike a traditional business loan, the Start-Up loan is a personal loan to be used for business needs, ranging from £500 to £25,000. They come with a fixed annual interest rate of 6%. Additionally, these loans are unsecured, meaning you don't have to risk any of your assets, and there's no need to find a guarantor to back your application.How Much Money Can You Borrow With a Start-Up Loan?Each owner or partner within a business is eligible to apply for up to £25,000 individually, with the total amount available for a single business being capped at £100,000. Those who are approved for the Start Up Loans program will receive 12 months of complimentary mentoring, which provides valuable guidance and access to exclusive business offers. These added benefits are aimed at increasing the chances of your business succeeding.Before You ApplyAs you can probably guess, there are a few requirements you and your business need to meet to apply for the scheme. To apply for the loan you need to live in the UK and be 18 or older. You also need to have started (or have plans to start) a business in the UK that has been trading for less than three years (36 months). Additionally, applicants will undergo a credit check as part of the application procedure.How to ApplyThe Government understands that you may not have a lot of spare cash lying around as you work to get your business up and running, that's why the application process doesn't require any fees. There's also a choice to repay the loan anytime over five years, and there are no penalties or fees for early repayment.

Securing a Business Loan With a Poor Credit Score

Key Steps To Improve Your Chances of Being Approved for a LoanIn the dynamic landscape of business, financial hurdles often appear when least expected. However, a less-than-perfect credit score can cast doubt on the feasibility of obtaining a business loan. The good news? A poor credit history doesn't necessarily slam the door on loan possibilities.  With the right strategies and a proactive approach, businesses can significantly enhance their chances of securing the financing they need, even in the face of a less-than-ideal credit profile. This article focuses on how businesses with less-than-stellar credit scores can still secure the loans they need. We'll go through why adopting a strategic approach could mean your business can apply for loans with confidence, despite your credit score constraints. Remember that lenders who offer loans to businesses with poor credit typically offer a higher interest rate than they would to a business with a good credit score. So it's best to prepare to receive a high interest rate from your lender. It's really important, therefore, to review your offer to ensure the proposed interest rate is affordable. Keep reading to find out how to improve your chances of being approved.  1. Prepare Your Application DocumentsWhen finding business loans with bad credit, it's important to prepare your application documents. Before approving a loan application, most lenders require a business plan and copies of financial statements; including a profit and loss statement, balance sheet, and cash flow statement.  This is especially important when applying for a bad credit business loan because it demonstrates your ability to repay the loan, despite your poor credit score. It may also boost your chances if you provide proof of collateral; this gives a lender more confidence that they'll be able to recoup any losses. 2. Improve Your Credit Score This might be an obvious solution but, while it may take time, improving your credit score can help you qualify for better loan terms in the future. Making sure you pay your bills on time, keeping your credit utilisation low, and disputing errors on your credit report. Over time, these things will mean your credit score could improve. While you may require a loan sooner rather than later, if you can hold off to focus on improving your credit score, this might be the best plan for you to not only improve your chances of getting a loan, but also to get a better interest rate offer.   3. Look For Alternative MethodsNot all lenders are willing to work with business owners with bad credit. Your bank may be willing to work with you if you have a relationship with them, but you might need to look for an alternative business lender like a private investor or a crowdfunding campaign. You can also take steps to reduce your operating expenses and apply for a lower loan amount.