Sole Trader Loans

A guide to helping you understand and compare sole trader business loans online


Loans available from £1,000 up to £20m

Loans available from £1,000 up to £20m

Multi award winning website

Multi award winning website

Some of the lowest rates available

Some of the lowest rates available

Finance providers we compare

A guide to sole trader loans

If you operate as a sole trader and are looking for a loan, it is likely that you will need to explore alternatives to traditional sources of business funding. Here at Business Comparison, we believe every business should be able to access the funds required to grow and succeed.

This guide will help you find and compare the available sole trader loans.

What are the best sole trader loans?

Although there are a variety of sole trader loans available, they will all fall into the secured or unsecured category.

A secured loan will require your business to provide its assets as security for the loan whereas, an unsecured loan will not require collateral. However, when you are searching for loans for self employed people, it is worth considering that you may still be required to provide a personal guarantee, which could put your own personal credit rating and assets at risk.

We work with a panel of more than 30 lenders who specialise in providing a variety of sole trader loans including; fixed term loans, credit cards, overdrafts, lines of credit, invoice finance, merchant cash advances and even commercial mortgages.

By providing your business with an array of sole trader business loan options, you could have access to funds from £1,000 to a maximum of £20,000,000, which can be repaid in just a few months or spread over several years.

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How to compare sole trader loans

With so many sole trader loans available, it may seem difficult to find the ideal option for your business. Our finance finder is designed to get to know your business and its loan requirements, so that we can quickly help you access the finance you need.

The tool will ask you questions such as how much you need to borrow and how long for. This information will then be quickly analysed to provide you with a list of potential lenders and their available sole trader loans.

The sole trader loans in the list will be ordered based on how well they match your requirements, the cost of the loan and its repayment terms. Once you have compared the available list, the application process is simple, and you could have the funds released within 24 hours.

As part of the application you will need to provide additional documents, which enable the lender to analyse details such as your annual turnover and credit rating.

If you are approved for a loan the charges and terms will be based on these financial details and your credit rating. If you represent a low risk, you will benefit from low-interest rates and longer repayment terms. However, if your business or personal credit rating is low, the lender is likely to offer sole trader loans with a higher rate of interest and a short repayment period.

By working with a range of lenders we can provide access to business loans for sole traders with bad credit.

To find out more about funding for sole traders and the benefits our lenders could provide your business, please contact our team today. We will be able to guide you through the range of options, so that you can access the most competitive and flexible sole trader loans.

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What are business loan rates when you have bad credit?

If your business is struggling with a bad credit rating, it doesn’t mean that you won’t be able to obtain a business loan. However, you may find that the business loan rates offered may be higher than if your business had a good credit rating. By comparing bad credit business loans with us, we’ll ensure that you get the best deal for based on your circumstances.

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