
The Ultimate UK Business Loans Guide
Find out what you need to know about business loans; including how they work, what they
What type of business are you?
Business loans can be the perfect way to access new funds for your business. Whether you’re looking to cover day-to-day operations, bankroll expansion into new markets, or improve your cash flow, there’s a business loan for various reasons.
But with so many providers out there, it could be difficult to know which one is right for you. That’s why we’ve put together a list of 5 UK business loan providers to make that decision a bit easier and make sure you make the right choice.
A business loan is a loan that is taken out strictly for commercial purposes. They could be an option for businesses looking to increase their capital. This increase in funds can go towards supporting numerous things, including the following:
Although there are various options, you can break down a business loan into three main parts:
Before we kick things off, we just need to point out that this isn’t a ranking table. Instead, we’re going to compare 5 of the leading providers in the UK, the loans they offer, and any interesting features they offer. This way, you can make an informed decision and find the best provider for your specific needs.
Provider | Lender or Broker | Types of Loans Offered |
---|---|---|
Swoop Funding | Broker | Unsecured/Secured loans; start-up loans; business acquisition loans; asset finance; invoice finance; merchant cash advance; working capital loans; commercial mortgages; Islamic loans; loans for women. |
Capify | Lender | Unsecured and secured business loans; merchant cash advances. |
Rise Funding | Broker | Unsecured loans; cash flow funding; invoice finance; asset finance; VAT loans; property finance; working capital loans; bridging finance; merchant cash advances. |
White Oak UK | Lender | Business loans; asset finance; invoice finance; VAT/tax loans; professional loans; commercial property finance. |
Redwood Bank | Lender | Commercial mortgages; investment loans; owner-occupied loans; property development finance. |
Kicking things off, we have Swoop Funding. Founded in 2018 in London, Swoop is a broker whose aim is to simplify the way that UK businesses can access funding. Their platform helps connect SMEs with loans, grants, equity investments, and cost-cutting services.
Swoop Funding’s Features
Born out of the 2008 financial crisis, serial entrepreneur David Goldin formed Capify to help struggling businesses access much-needed funding. With a customer-focused approach, Capify aims to make the application process as simple and accessible as possible. As a direct lender, you’ll borrow straight from them, cutting out the middleman.
Another London-based broker, founded in 2019, Rise climbed up the business finance ladder at a rapid speed. They’ve already helped hundreds of businesses up and down the country source the funding they need. From fresh start-ups to thriving SMEs, whatever stage of the journey you’re at, Rise could have something for you!
Nothing beats a bit of experience, and White Oak has over 35 years of it. They’ve funded over 1,000 companies throughout the UK, US, Canada, and Europe to the tune of $20 billion. White Oak is a major player in business financing that might be the perfect fit for you.
A bit of a different flavour with our final pick. Unlike the other four mentioned on this list, Redwood is a specialist business bank that deals exclusively with commercial mortgages. If you’re looking to upgrade or purchase property, its specialised knowledge may make it the perfect choice for you.
What type of business are you?
How much do you want to borrow, and how long do you want to spend paying it off? Shorter terms will cost you more in monthly repayments, but will save you in the long run with less interest paid. On the other hand, longer terms will mean a lower monthly payment but more overall payment through interest.
Choose between a fixed or variable interest rate. Fixed ones clarify how much you will pay each month, making forecasting and budgeting easier. But with a variable interest rate, this will fluctuate alongside the Bank of England’s base rate, for better or worse.
With a secured loan, you put up an asset such as equipment, inventory, or property to borrow against. These loans will often come with more favourable terms, but do put you at risk of losing that asset if you default on your payments. With an unsecured loan, you don’t put up an asset as collateral, but with the lender taking on more risk, your rates will be less favourable.
Some providers have more stringent requirements for using their services. Things like credit scores, business financials, and other important information will be examined to ensure you qualify.
There are a host of different types of business loans to choose from. For example, business mortgages are designed to upgrade or purchase properties, whereas short-term loans are great for accessing quick cash. Find the right loan to match your needs.
Doing a bit of digging can go a long way when choosing the right provider for you. Have a look at what current and past customers are saying about them. You can ignore one or two bad reviews, but if you notice any patterns (good and bad), be sure to take these seriously. Remember that customer reviews are subjective, so it is always best practice to do your own research.
Now, there’s only one thing left to do: find a business loan provider! You could crawl the web, spending hours finding different business loan quotes, but do you really have the time to do that? Of course you don’t; you’re busy running your business!
Instead, you can skip that entire process by letting us at Commercial Experts help you. All you have to do is tap the button below and answer a few quick questions about your business. Then, based on the information you enter on the application form, if you meet the criteria of one of the partners on our panel, they will contact you to discuss your application further.
Complete our free-to-use application form, and if you don’t like the quotes you get, just walk away without spending a penny.
So, want to find out more? Tap below now!
What type of business are you?
A business loan is funding provided to support commercial activities like purchasing stock, expanding premises, or boosting cash flow. It involves borrowing a set amount, paying it back over time, and paying interest on top. These loans are vital tools for growing your business.
Lenders provide the money directly, set their terms, and manage the loan. Brokers don’t lend but connect businesses with suitable lenders, offering wider options and expert advice.
Consider how much you need, your repayment ability, interest rates, and whether you need secured or unsecured funding. Also, check eligibility criteria, customer reviews, and support levels. Different providers suit different business goals, so always match the loan type to your needs.
UK business loan providers offer various options, including unsecured loans, asset finance, invoice finance, commercial mortgages, and cash advances. Some also provide tax loans, start-up funding, or specialist products like Islamic finance or loans for women entrepreneurs. Loan types vary by provider.
Skip hours of online searching; just tap the button on this page and answer a few quick questions about your business. Then, based on the information you enter on the application form, if you meet the criteria of one of the partners on our panel, they will contact you to discuss your application further. There’s zero obligation to accept an offer if it doesn’t meet your needs!
*IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
Find out what you need to know about business loans; including how they work, what they
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