Small Business

How to get business loans in the UK

How to get business loans in the UK
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Money is always a major barrier when you are looking to expand or start a new business. With ideal research, you will be able to raise enough money for your business. Business loans typically allow you to borrow a specific amount of money and payback with a specific interest. Business loans are relatively inexpensive hence advantageous.

In the UK, local banks have the power only to approve small loans; all other lumpsum loans are directed to the country’s credit control department, and this takes weeks or even months to make a decision. The banks will ask for a business plan, cash flow analysis, and the profit and loss accounts, and above all these, they will want to meet you in person before deciding to give you a loan or not.

Business loans providers in the UK

Many business loan providers within the UK have specialized with all types of loans. It is also important to consider traditional lenders and not only focus on the well-known banks. There are new entrants in the UK banking sector, such as Handelsbanken, Metrobank, and Aldermore, and some will offer attractive rates than big banks and personalized services to try and win your business.


Barclays Bank

How to get business loans in the UK

Barclays in the UK has a wider range of lending options for small businesses and startups.

Loan options:

Loans €1000-25000, Loans €25,000 and above Overdrafts, Cash flow finance and Commercial Mortgages. To assess the cost of your business, please use the Barclays loan calculator.

British Business Bank

This bank is Is meant to fill the gap when lenders are unwilling to finance new startups. British Business Bankcombines free mentoring with loans that are low cost both for startup and already running the business.

 Loan options:

Startup loans and small scale business loans

Virgin Startups

They normally help individuals be funded and get a good mentor too; It was founded by Richard Branson to support bright UK entrepreneurs who are over 18 and are willing to start their business and expand. If you want to apply for Virgin startups, please fill your name and email address here.

How to get business loans in the UK


Santander can help you turn your business ideas into reality by offering fixed rate business loans. You can apply for a loan if you are an account holder or the basis of your business’s current financial position. Use a loan calculator to calculate your monthly repayments. For fixed business loans, apply HERE and verify if you qualify, please visit the terms and conditions page.

How to get business loans in the UK

HSBC Loans

HSBC offers business loans to assist your business in projects that are long term and are normally granted with suitable repayment options.HSBC loans normally take a short time frame to be processed, and funds are transferred immediately they get approved. You can choose a repayment period with your ease, and it is very convenient.

Loan Options:

Small scale business loans

Lloyds Bank Loans

80% of the loans approved by Lloyds bank are for young entrepreneurs that want to expand their business, and they offer the best rates and terms of repayment.

Loan options: SME Fixed Rate loan, Fixed Rate loan, Commercialized Fixed-Rate loan.

Let us know If you have any questions or suggestions about getting business loan in UK. Share your thoughts in the comments section!

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Muntaha Saleem
She is an Editor-in-Chief . She is a Telecom engineer and a blogger. She loves to blog about latest technology news and products.

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