Apply for Business Loans from £5,000 to £1 Million
Business loans can contribute hugely to the success of your company – whether it for short term cash flow, growth periods or to kick start your business idea. Lending Expert works with the best business loan providers in the UK to help find the right product for you.
Whether you are looking to borrow a £5,000 business loan or up to £10 million, we have a range of options for you to choose from including unsecured and secured options.
To compare business loans with Lending Expert, simply use our comparison table provided and click on ‘Get a Quote’ with the lender of your choice where you will be able to apply directly. You can get a free, no obligation quote today and if successful, you can receive funds for your business in a matter of days or weeks.
What Are The Types of Business Loans Available Through Lending Expert?
- Commercial business loans
- Small business loans
- Unsecured business loans
- Secured business loans
- Start-up loans
- Bank loans
- Invoice finance
- Short term loans
- Revolving credit facilities
- Bad credit loans
- With or without collateral
What is The Average Amount, Cost, Length and Term of a Business Loan?
Our business loans start at £100 to £10 million with the average duration between 1 and 35 years.
The average APR for UK business loans since 2018 is around 4.66%. Of course, this depends upon the businesses’ credit line, turnover, the assets which are used as security, the history of the business and other factors.
Some lenders, such as some online peer to peer or short-term business loan lenders offer rates in excess of 100%. Check the details about APR and monthly interest before applying for your loan.
We offer business loans to accommodate every kind of company size, turnover and profit – whether you would prefer to apply for an unsecured loan or to secure the loan against your office, home, plant, stock or machinery. We can help.
What is The Difference Between Secured and Unsecured Business Loans?
There are two main types of business loans which are offered by financial institutions. These are secured and the unsecured business loan.
Unsecured loans are loans which allow a business to borrow capital without the risk of using your business assets as security for the loan.
Secured loans are oriented to minimising the risk for the financial lender/bank. These loans require that the applicant use assets as security for the loan. If the loan is not successfully paid back, the lender can seize the assets to get their money back.
What Information Do I Need to Apply for a Business Loan?
- Be a registered company
- Have a business current account (in most cases)
- Be the owner or a director of the company
- Minimum 24 months trading history and filed accounts (unless a start-up)
- Your business is based in the UK
Our loan application takes only a few minutes to be completed and you will be presented with a list of competitive rates on the screen. If you wish to proceed, you will receive a call back from one of our dedicated advisors who will be able to talk you through the process.
You will typically be asked some basic information about the business including proof of trading history, turnover and profit and filed accounts.
Your business will typically have a credit score and this information may or may not be assessed by some of our partner lenders.
How Much Can I Borrow from a Business Loan?
Our featured lenders are able to offer business finance from £10,000 to £1 million depending on the size of your company and its profitability. Based on most business lenders in the UK, you are able to borrow up to 25% of your company’s annual turnover and repay over 1 to 15 years.
To maximise your chances of approval, it helps to have a company with at least 24 months of trading history and to be profitable. However, with such a diverse panel of lenders available through All Purpose Loans, there are products that are willing to offer business loans with no trading history and that are not yet profitable.
Where Can I Get a Business Loan?
Traditionally, entrepreneurs and business owners would go to their local bank branch and speak to a bank manager about getting a loan or opening a line of credit.
However, due to advances in technology and the increasingly strict lending criteria from UK banks, searching online for business loans has become the first port of call for many.
Long are the days of visiting a bank branch, queuing in line and waiting for a decision. Today, the application, decision and funding process can be managed online from start to finish.
At Lending Expert, we are proud to work with a combination of banks, challenger banks and private lenders, helping you get a full market comparison and choose the right lender for you based on your circumstances.
Use our table provided to compare business loans and simply click on ‘Get a Quote’ to get started today.
Do I Need a Business Loan?
Business loans can be used for a variety of reasons although usually, the lender will ask you what you plan to use the money for, so it is best to prepare with your answer.
Business loans are typically used for the acquisition of machinery, property, stock, land, staffing, paying off existing debts, expanding operations, opening a secondary base of operations, or moving the business’s premises.
The injection of cash into a business can be extremely useful and help keep the business profitable, growing or afloat. With a range of options and flexible terms, more and more people are searching for business loans online and finding the right solution for them – with the option to repay early if they wish to do so.
Can I Get a Business Loan with Bad Credit?
Yes, there are business loans available for people with bad credit. Our lenders are willing to take a view on different credit histories and will take multiple factors into consideration such as your company turnover, asset-values, type of business and trading history.
You should not be discouraged if you have been declined previously by banks or other lenders. Our business loan providers understand that maintaining a perfect credit score is not always easy and they will always be looking for ways to help you get the loan you need.
How Do I Compare Business Loans with Lending Expert?
Start by using our price comparison table provided to compare the rates, loan amounts and terms. If you have found the right lender for you, simply click on ‘Get a Quote’ where you will be taken to their website where you can apply directly.
Our comparison services are designed to provide a full market overview, giving you the best choices with no fees and no obligation to proceed.
Lending Expert has helped thousands of businesses so far to secure the right funding. Our service is completely free to use and always will be.