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Business Loans

Last Updated: 13/11/2023

Commercial loans for UK businesses

Whether you’re taking your first steps with a new business, looking for funds to grow or want to boost your working capital, we can help you find the right commercial loan. We work with more than 50 UK lenders and know who to approach to secure business loans with the best terms and rates for every client. 

Applying for a business loan can be daunting, which is why we handle the process for you. Just tell us what you’re looking for and we’ll use our knowledge of the lenders and their products to get you the best quotes. We can even write the loan application on your behalf. There’s also no fee for our service, either upfront or after the loan has been agreed.

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With full market access and absolutely no ties to any lender, we can objectively match you with the most effective and cost-efficient source of business finance. Contact our team today!

What are the different types of business loans?

With a wide range of business loans on the market and products designed for different needs, it’s not always easy to know where to start or who to approach first. You can access short-term and long-term loans, loans for emergency funding, growth projects and start-up finance. You also have to consider whether a secured or unsecured loan is a better fit for your business. 

Then there are the lenders to consider. As well as the high-street banks and building societies, there are also lots of independent and online lenders and many of those have their own niche. So, how do you apply for a loan that best suits your business needs? That’s where UK Business Finance can help.

How does a business loan work?

Whether you run a start-up or an established SME, most businesses need extra funds at some point to buy stock, invest in new equipment, expand their operations or improve their cash flow. Whatever your goal, there’s a loan out there to suit you.  

You can borrow anything from £5,000 to more than £500,000 with repayment periods of several months to many years. There’s no one size fits all with a business loan, as the right deal for you depends on your specific needs. 

Whatever business loan you go for, the basic process remains the same:

  • You tell us what you’re looking for
  • We search the whole market for the best quotes
  • We recommend the best business loans based on those quotes (the interest rate, repayment terms and fees) and how they match your requirements
  • We can write the loan application on your behalf - the lender will usually ask for financial information and run a credit check on the business and its owners
  • If the lender accepts your application, you sign the loan agreement and the funds can be in your account within 48 hours 

Am I eligible for a business loan?

Your eligibility is key as it determines what type of loans are available to you. These are some of the things you can expect to be asked about when applying for a business loan:

  • Revenue and profit
  • Loan amount vs. turnover
  • Bank statements
  • Filed accounts 
  • Trading history
  • Payments and credit history (e.g. late payments, defaults and CCJs)

All this information will help the lender build a picture of your business and determine how much risk you present and what an appropriate interest rate will be. 

The most you can borrow is typically 10-20% of your annual turnover. However, many of the lenders we work with – including specialist lenders for businesses with a short trading history – are much more flexible than the banks.

If you have an adverse credit record, we can still help. These days, there are plenty of lenders who are willing to consider those with less-than-perfect credit records, and we know who to approach to find the best deals

Find the right loan for your business

At UK Business Finance, there are no fees to pay for our service and we don’t ask you to sign a 30-day exclusivity contract like other brokers. Request a quote online or get in touch via phone or email to discuss your business funding needs.

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Our team of finance experts can provide industry-leading advice on mortgages to suit a range of different scenarios. Call the team on 0808 301 0624 or Contact Us