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Asto Business Loans

Asto Business Loans logo
  • 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)
  • Short-term, flexible funding for sole traders and SMEs
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Last updated on 09 November 2020.

Asto by Santander FAQ

Who is Asto by Santander?

Asto is a mobile finance app that provides SMEs and sole traders with a range of bookkeeping tools, such as invoicing and expense tracking, to help them manage their business accounts. As part of the app, Asto can also provide businesses with funding in the form of invoice finance and short-term, unsecured capital loans.

Asto is part of the Santander Group and is authorised and regulated by the Financial Conduct Authority.

What is Asto Business Capital?

Asto Business Capital is the business funding section of Asto. It offers a form of working capital loan which aims to help businesses quickly and flexibly access extra finance when they need it.

Asto Business Capital offers short-term, unsecured loans that are designed to support businesses if they experience a temporary shortfall in their day-to-day finances, and can be used to cover expenses like wages, stock purchases, or bills.

How do Asto Business Capital loans work?

Businesses apply to Asto for a credit limit, which will show them the maximum amount of finance they can access. This won’t involve any upfront costs and businesses do not need to borrow their entire credit limit; they can just apply for what they need when they need it, only paying for the credit they actually borrow.

When businesses want extra funding to cover any short-term cash flow gaps, they can apply for a loan (up to their credit limit). They choose how much finance they want and over what period, then repay the loan in monthly instalments.

Businesses can take out more than one loan as long as the total borrowed doesn’t exceed the credit limit. They will need to separately apply for each loan; the credit limit is not a reserve of funds that you can draw on like an overdraft, but just an indication of how much you can borrow.

Why might I choose Asto Business Capital?

You might choose to take out an Asto Business Capital loan if you are a small business that sometimes needs short-term funding to cover temporary cash flow gaps. It offers flexible finance options which can help to cover a variety of costs like stock purchases, training, and marketing.

Businesses can pay back their loans early without facing any early repayment fees, and they can borrow more money if/when they need to (up to their limit).

Asto Business Capital is not designed for long-term funding needs.

Who can access Asto Business Capital loans?

UK residents over the age of 18 can apply for Asto Business Capital loans. Sole traders and private limited companies are eligible, and Asto finance is available to start-ups as well as more established businesses.

To be approved for a loan, business owners and directors should have a good credit history and must not be bankrupt or undergoing current bankruptcy proceedings.

You do not need to bank with Santander to be eligible for funding from Asto Business Capital.

How much can I borrow from Asto?

When you apply for finance from Asto you will get an approved credit limit which is the maximum amount you can borrow. You don’t need to borrow this much at once; when you need finance, you can just apply for the amount you need over a term that suits you. You can apply for more than one loan as long as the total amount borrowed doesn’t exceed your limit.

You can apply for small loans as well as larger sums of money if required. However, businesses need to bear in mind that Asto funding is intended to cover short term costs, so you will need to pay back the loan within a fairly short repayment period. Loan terms typically range from 6 to 12 months.

Asto could amend your credit limit which may affect how much you can borrow.

Where can I find reviews of Asto?

You can find reviews of Asto on sites like Trustpilot which offer independent customer opinions on the service and product provided.

Services offered by this provider may change over time. Always check Ts&Cs.