Compare Business Loans Today

  • Business loans are available for companies of all sizes and industries
  • There are many types of business loan, designed to suit particular commercial needs
  • You can compare loan amounts and term lengths in our comparison tables
11 products found
  • Funding Circle logo
    Peer To Peer

    Funding Circle

    • Borrow £50,001 to £500,000 with the Government's CBIL scheme
    • Nothing to pay for 12 months - No upfront fees - No early settlement fees
    • Simple online application & decisions typically in 24 hours
    • Rates between 1.8% and 7.4% APR
    • Minimum Turnover
      £200,000+ p.a.
    • Available Amounts
      £50,001 to £500,000
    • Available Terms
      2 to 5 years

    Company details

    • Funding Circle, supporting small businesses for over 10 years
    • Used by over 57,000 UK businesses
    • All Funding Circle do is small business, as a result 9 out of 10 of their businesses would come back first next time

    Eligibility criteria

    • UK-based business - 3 years of trading history - Adversely affected by coronavirus
    • Loan primarily for trading in the UK
    • Annual turnover from £200K+ up to £45 million - Over 50% of turnover from trading activity (e.g. not from investments)
  • EJ Finance logo
    Broker

    EJ Finance

    • Application-to-offer within 24 hours
    • To be contacted within 3 minutes of applying
    • Access to over 200+ lenders, covering all sectors
    • Minimum Turnover
      £50,000 p.a.
    • Available Amounts
      £10,000 to £10,000,000
    • Available Terms
      1 months to 10 years

    Company details

    • Application-to-offer within 24 hours
    • To be contacted within 3 minutes of applying
    • Access to over 200+ lenders, covering all sectors

    Eligibility criteria

    • Application-to-offer within 24 hours
    • To be contacted within 3 minutes of applying
    • Access to over 200+ lenders, covering all sectors
  • Swoop Funding logo
    Broker

    Swoop Funding

    • Simple, secure and speedy access to over 1,000 funding providers without affecting your credit rating
    • Experts in CBILS – borrow from £50k to £250k with no personal guarantee, no fees, no repayment for 12 months, no early settlement fee
    • Speak to Swoop's team of experts – five-star Trustpilot rated
    • Minimum Turnover
      £200,000 p.a.
    • Available Amounts
      £1,000 to £10,000,000
    • Available Terms
      3 months to 6 years

    Company details

    Eligibility criteria

  • Fluidly logo
    Broker

    Fluidly

    • Your business must be trading for 12 months or more to apply with us
    • Instantly see funding products your business is eligible for, from across the market (no credit checks)
    • A dedicated 5-star rated Funding Specialist on hand to support your application end-to-end (no hidden fees)
    • Range of products available including CBILS, unsecured loans and asset financing
    • Minimum Turnover
      £100,000 p.a.
    • Available Amounts
      £50,000 to £10,000,000
    • Available Terms
      1 to 10 years

    Company details

    • Hassle free funding options within 30 seconds
    • Team of 5-star rated Funding Specialists are on hand to support your application
    • A range of products available including CBILS, unsecured and asset financing

    Eligibility criteria

    • Hassle free funding options within 30 seconds
    • Team of 5-star rated Funding Specialists are on hand to support your application
    • A range of products available including CBILS, unsecured and asset financing
  • Asto logo

    Asto

    • Short-term working capital loans from Asto, a part of the Santander Group
    • Once approved, your business can borrow from £150 to £150,000 (subject to your credit limit)
    • 18.9% APR representative. Rates vary depending on your and your business’ circumstances
    • Minimum Turnover
      No minimum (must have positive cashflow)
    • Available Amounts
      £150 to £150,000
    • Available Terms
      6 to 12 months

    Company details

    • Short-term working capital loans from Asto, a part of the Santander Group
    • Once approved, your business can borrow from £150 to £150,000 (subject to your credit limit)
    • 18.9% APR representative. Rates vary depending on your and your business’ circumstances

    Eligibility criteria

    • Short-term working capital loans from Asto, a part of the Santander Group
    • Once approved, your business can borrow from £150 to £150,000 (subject to your credit limit)
    • 18.9% APR representative. Rates vary depending on your and your business’ circumstances
  • Fleximize logo

    Fleximize

    • Voted "Best Business Finance Provider" at the British Bank Awards 2020
    • Industry-leading flexibility - top-ups, repayment holidays, no hidden fees
    • Interest charged on a reducing balance, repay early and only pay for the time you had the loan
    • Rates from 0.9% per month (10.8% per annum), with no additional fees
    • Minimum Turnover
      £60,000 p.a.
    • Available Amounts
      £5,000 to £500,000
    • Available Terms
      3 months to 4 years

    Company details

    • Voted "Best Business Finance Provider" at the British Bank Awards 2020
    • Industry-leading flexibility - top-ups, repayment holidays, no hidden fees
    • Interest charged on a reducing balance, repay early and only pay for the time you had the loan
    • Apply online in minutes, receive funds in as little as 24 hours.

    Eligibility criteria

    • Minimum annual turnover of £60,000 p.a.
    • Borrow between £5,000 and £500,000
    • Business activities must be UK-based and impacted by Covid-19
  • THINK Business Loans logo
    Broker

    THINK Business Loans

    • THINK's funding platform matches your businesses eligibility against hundreds of lenders instantly (without a credit check)
    • THINK are the UK's leading business lending specialists; their experts are on hand to guide you through the process
    • Find the perfect loan in minutes - Make the lender work for you
    • Minimum Turnover
      £50,000 p.a.
    • Available Amounts
      £25,000 to £10,000,000
    • Available Terms
      1 month to 30 years

    Company details

    Eligibility criteria

  • Funding Xchange logo
    Broker

    Funding Xchange

    • Funding Xchange’s free service matches your eligibility against over 50 lenders in seconds
    • Complete your application online in as little as 3 minutes and you could get funded in a few hours
    • It's simple, safe and free and the search won’t affect your credit rating
    • Minimum Turnover
      £100,000 p.a.
    • Available Amounts
      £1,000 to £500,000
    • Available Terms
      3 months to 5 years

    Company details

    Eligibility criteria

  • Portman Asset Finance logo
    Broker

    Portman Asset Finance

    • Business finance broker with specialist sector experience to offer fast and flexible finance solutions
    • Access over 40 leading UK business finance providers
    • Dedicated CBILS specialist account managers
    • Minimum Turnover
      £150,000+ p.a.
    • Available Amounts
      £10,000 to £10,000,000
    • Available Terms
      Up to 5 years

    Company details

    • Business finance broker with specialist sector experience to offer fast and flexible finance solutions
    • Access over 40 leading UK business finance providers
    • Dedicated CBILS specialist account managers

    Eligibility criteria

    • Business finance broker with specialist sector experience to offer fast and flexible finance solutions
    • Access over 40 leading UK business finance providers
    • Dedicated CBILS specialist account managers
  • 365 Business Finance logo

    365 Business Finance

    • Your business must process credit and debit card transactions to apply for this product
    • A flexible business funding alternative
    • Cash advanced against card transactions
    • Pay back an affordable % of your card transactions
    • Minimum Turnover
      £5,000+ card transactions per month
    • Available Amounts
      £5,000 to £200,000
    • Available Terms
      4 to 18 months

    Company details

    • Get between £5,000 and £200,000
    • Pay back through your customer card transactions
    • A single all inclusive charge that never changes
    • No interest, APRs or hidden extras

    Eligibility criteria

    • Your business must have been trading for at least 6 months
    • Your business must accept debit and credit card payments
    • Your business must take at least £5,000 per month in card transactions.
  • Start Up Loans logo

    Start Up Loans

    • Interest rate of fixed 6% per annum
    • Receive business mentoring and support after drawing down your loan
    • No application fees or early repayment fees
    • Minimum Turnover
      No minimum
    • Available Amounts
      £500 to £25,000
    • Available Terms
      1 to 5 years

    Company details

    • Start Up Loans is a Not-For-Profit Company offering a finance and mentoring solution to start and grow a business
    • Start Up Loans have helped over 40,000 businesses get started in the UK
    • Free application support
    • Free post-loan business mentoring

    Eligibility criteria

    • Business is based in the UK
    • Trading for under 24 months
    • 18 years and over

Our comparison service features a selection of providers from whom we receive commission. This table is initially ordered according to our commercial arrangements. You can use the options above the table to order it according to various criteria.

How to choose a business loan

Most business owners will find themselves looking for extra finance at some point. Whether you are looking to expand, pay off debts, invest in new equipment or regulate your cashflow, a business loan is an option to consider.

The trouble is, finding the right business loan can be a daunting prospect. On the one hand, there’s traditional bank loans and on the other there are options like online lenders and alternative finance providers. Here at NerdWallet, we’ve put many of them in one accessible business loan comparison table, so you can find a loan to help nurture and grow your business.

Take a look through the table at the current deals on offer. Our business loan comparison tables break down the important factors like available loan terms and amounts. Not every deal will be right for you, but our tables are a good place to start when navigating the busy business loan marketplace. And to help you further, we’ve put together a simple guide to business loans below, which may help you to better understand your options when looking for finance for your business.

The main types of business loan

Secured business loans

Secured business loans are a type of business finance that requires you to put forward an asset - usually a property - as security for a loan. Secured loans often come with lower interest rates than unsecured loans as they represent less risk for the lender. They may also give you access to a larger loan amount over a longer term.

However, they come with the added risk that you could lose your property (often your home) if you struggle to keep up with the payments.

Commercial mortgages and asset-backed lending are two types of secured loan available to businesses.

Unsecured business loans

Unsecured business loans are those that don’t require security. Here are some of the main types of unsecured business loan – note that this is not an exhaustive list:

  • Bank loan: These tend to be offered by a major high street banks. They have been more difficult to obtain in recent years but are still a popular choice with established businesses with solid credit ratings.
  • Alternative business loan: Many alternative lenders and online banks will now offer business loans, usually through online-only platforms. Rates, terms and eligibility requirements differ from lender to lender.
  • Lines of credit: Lines of credit offer businesses the option of seeking a credit limit against which they can withdraw money as and when they need it. Interest is then paid only on the balance owed.
  • Merchant cash advance: Merchant cast advances, which are also sometimes known as business cash advances, are a type of business loan that is repaid automatically when a business takes a card payment from a customer. Merchant cash advances can offer finance for businesses that have poor credit ratings or a limited trading history.
  • Invoice financing: Invoice financing involves ‘selling’ unpaid invoices to a financier who makes the value of the invoice available to the business immediately in exchange for a fee.
  • Short-term loan: Short-term loans are straightforward business loans that are often offered over periods of months, as opposed to years. Cash is usually made available quickly, but interest rates can be high and loan amounts are often limited.
  • Peer-to-peer lending: Online platforms matching willing lenders (often either private equity investors or members of the public) with businesses that are seeking loans are a popular new finance model. Rates can be preferable, but eligibility might be relatively strict.

Choosing the right type of business loan

Although the vast array of options available may seem daunting, you’ll quickly find that your requirements and circumstances narrow the possibilities quite significantly. When comparing business loans, the table above is a good place to start as it shows the amounts a lender might offer and for how long. There is also some information about the minimum turnover your business will need to successfully apply.

Deciding which business loan is right for you needn’t be as difficult as you might think.

There are a few fundamental questions you can ask yourself to help you make your decision:

  1. How much do I need to borrow?
  2. How long do I need to repay the loan?
  3. How much can I afford to repay each month?
  4. Do I struggle with unpaid invoices?
  5. Do I hold equity in a property?
  6. Do I need the loan to buy a specific valuable asset?
  7. What’s my personal and business credit rating like?
  8. Do I take payment through a card machine?
  9. Do I need a lump sum all at once?

When you have the answers to these questions, you might be able to start narrowing down the list of possible business loans.

Finding the right business loan FAQs

Will my personal credit rating be taken into consideration when applying for a business loan?

Are there bad credit business loans?

Can you get business loans for new companies?

Are business loans regulated?

What can I use a business loan for?

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