TSB Business Loans

TSB Business Loans logo
  • TSB provides a range of business finance options. Find out what’s on offer, whether your business could be eligible, and how to apply.
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Last updated on 27 June 2022.

TSB has finance solutions for businesses in different stages of development, from startups that may need everyday cash to growing businesses that want to purchase property.

TSB business loans and finance products currently include fixed and base rate loans, overdrafts, and commercial mortgages. It also offers support to its customers through its partnership with Funding Options, which matches small businesses to funding solutions for their needs from a panel of lenders.

Discover the features of TSB business loans and how to apply.

What is TSB Bank?

Owned by Spanish banking group Sabadell, TSB is a retail bank that provides banking services to more than five million customers across the UK through online channels, over the phone, and in-branch.

What products and services do TSB offer?

Base Rate Loan

TSB’s base rate loan currently allows businesses to borrow money, with repayment terms over 1 to 25 years available.

The Base Rate Loan is linked to the Bank of England Base Rate, meaning your interest rate will fluctuate in line with changes to the base rate. You may have to provide security to take out this loan.

Fixed Rate Loan

With the fixed rate loan, you can currently borrow over a period of 1 to 10 years.

Unlike the base rate loan, your repayment amount will remain the same for the duration of your term. If you take out a fixed rate loan over a certain amount and you repay part or all of it before the end of your term, you may be charged a break cost which applies to loans over £25,000 and could be substantial.

Business Overdraft

The TSB overdraft is an everyday funding option that allows you to apply for the amount you require and only charges interest on the funds you actually use.

If eligible your interest rate will be agreed with you up front and will be tailored to your particular circumstances.

Commercial Mortgage

TSB commercial mortgages are currently available as both base rate linked and fixed rates.

TSB will potentially lend up to 70% of the value of the property, though it says it may consider lending more in certain circumstances .

» COMPARE: Business loans

Can I get a small business loan with TSB?

If you’re a small business in need of funding, you may consider TSB’s fixed rate loan. As the interest rate is fixed, you will know exactly how much to budget for repayments.

How do I apply for a TSB loan?

You can currently apply for any of TSB’s loans, overdrafts or mortgages by calling 0345 835 3858. You should have the following information to hand before you call:

  • The amount you want to borrow, how long you want to borrow it for, what the funding is for, and how you’ll repay it
  • Information about your business, the owners/managers and their track record
  • Information on security assets including valuations
  • Whether you have taken out any other loans
  • Business plans and a cashflow forecast for the term of the borrowing
  • Details of your business assets and liabilities
  • Management and historical financial accounts

» COMPARE: Business bank accounts

Am I eligible for a TSB business loan?

To apply for a any TSB loan, overdraft or mortgage, you must:

  • be a sole trader, partner or director
  • be 18 or over
  • use the finance for business purposes
  • be a UK-based business

What do TSB customers say?

On Trustpilot, TSB has been rated 3.6 out of 5 based on 15,298 reviews.

On the App Store, TSB Mobile Banking has been rated 4.8 out of 5 based on 346,600 reviews. On Google Play, it’s been rated 4.6 out of 5 based on 104,000 reviews.

This information is correct as of 7 June 2022.

Conclusion

Whether you’re a startup or a growing small business, TSB offers business loans that may allow you to borrow money to invest in your short or long-term business goals. You may also be able to access a flexible overdraft for more day-to-day cash needs.

With varying repayment terms, fixed rate and base rate linked rates available, you could potentially find a finance solution that suits your needs. I

You can call TSB directly to apply for a loan. However, it is worth reviewing other business loan providers before making your decision to compare features and ensure you’re getting the right deal for you.

TSB Business Loan FAQs

What criteria do you need for a business loan?

Currently, to be eligible for a TSB business loan, you must be a sole trader, partner or director, aged 18 or older, plan to use the finance for business purposes, and be a UK-based business.

How much deposit do you need for a business loan?

You don’t currently need a deposit for a TSB business loan. You pay back your loan with interest on either a fixed basis, where your repayment amount remains the same for the duration of your term, or in line with the Bank of England base rate, meaning it may vary.

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