Business loans FAQs
Are business loans tax-deductible?
The interest paid on business loans may be tax-deductible. Tax relief isn’t available on the capital element of a business loan. You should speak to a qualified accountant for specific tax advice.
Can I repay my business loan early?
Some lenders allow you to repay your business loan early without incurring any fees. But it’s important to check whether you’ll be charged for clearing your debt early before applying for business funding, as you may be caught out by unexpected costs if they do.