Asto Business Loans

- 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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EJ Finance
- Application-to-offer within 24 hours
- To be contacted within 3 minutes of applying
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Minimum Turnover
£50,000 p.a.
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Available Amounts
£10,000 to £10,000,000
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Available Terms
1 months to 10 years
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- Application-to-offer within 24 hours
- To be contacted within 3 minutes of applying
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- Application-to-offer within 24 hours
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Funding Circle
- Borrow £50,001 to £500,000 with the Government's CBIL scheme
- Nothing to pay until 2022 - No upfront fees - No early settlement fees
- Simple online application & decisions in as little as 5 hours
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Minimum Turnover
£200,000+ p.a.
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Available Amounts
£50,001 to £500,000
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Available Terms
2 to 5 years
Company details
- Funding Circle, supporting small businesses for over 10 years
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- 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)
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Fluidly
- 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
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Minimum Turnover
£100,000 p.a.
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Available Amounts
£50,000 to £10,000,000
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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
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Lombard
- Lombard offers a comprehensive range of asset finance solutions.
- A simple finance solution with a credit decision in 24 hours for transactions up to £150,000.
- Security, guarantees or indemnities may be required. Product fees may apply. Finance is subject to status and is only available for business purposes.
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Minimum Turnover
No minimum
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Available Amounts
Up to £150,000
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Available Terms
1 to 7 years
Company details
- Lombard is one of the UK’s oldest and largest asset finance partners
- They have helped thousands of businesses invest in their future’s every day
- Lombard have won Best Leasing and Asset Finance Provider at the Business MoneyFacts Awards every year from 2009 to 2018
Eligibility criteria
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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
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Minimum Turnover
£50,000 p.a.
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Available Amounts
£1,000 to £10,000,000
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Available Terms
3 months to 6 years
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Eligibility criteria
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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
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Minimum Turnover
£60,000 p.a.
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Available Amounts
£5,000 to £500,000
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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
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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
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Minimum Turnover
£100,000 p.a.
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Available Amounts
£1,000 to £500,000
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Available Terms
3 months to 5 years
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Eligibility criteria
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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
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Minimum Turnover
£150,000+ p.a.
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Available Amounts
£10,000 to £10,000,000
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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
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Nucleus
- Fast service - receive your funding in 24 hours
- Unsecured and secured business loans
- 7 products tailored to your business
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Minimum Turnover
£60,000 p.a.
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Available Amounts
£3,000 to £50,000,000
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Available Terms
3 months to 8 years
Company details
- Fast service - receive your funding in 24 hours
- Unsecured and secured business loans
- 7 products tailored to your business
Eligibility criteria
- Fast service - receive your funding in 24 hours
- Unsecured and secured business loans
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Start Up Loans (British Business Bank)
- Interest rate of fixed 6% per annum
- Receive business mentoring and support after drawing down your loan
- No application fees or early repayment fees
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Minimum Turnover
No minimum
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Available Amounts
£500 to £25,000
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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
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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.