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Business Loans Guide

Applying for a Business Loan

A guide to helping you understand requirements when applying for a business loan

Applying for a business loan UK

There are so many lenders who loan to businesses, which can make it difficult to find the ideal form of finance when applying for a business loan. Our panel of lenders can provide loans for small amounts of £1,000, to a maximum of £20,000,000.

To help you find a loan which matches your specific requirements, we have created this useful guide to applying for a business loan.

Which business loans are available?

When applying for a business loan in the UK, you need to find a product which matches your unique requirements. If you understand what you need the loan for, it will help you find a financial product that is designed for your specific needs. For example, you may be looking to borrow a short-term form of finance which can be repaid in less that 12 months, or a larger amount to repay over several years.

Our panel includes more than 30 lenders which can provide everything from short-term finance in the form of credit cards, unsecured business loans and invoice financing, to long-term secured loans and commercial mortgages. Whether you need a small loan to help with cash flow issues or a large amount to fund a business expansion, our lenders can provide a variety of competitive loans.

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How do I find the most competitive loan?

Instead of applying for a business loan because it is the first one you find, you could secure a more competitive loan by comparing and applying for a business loan online. Our finance finder tool will ask some quick questions about your loan requirements and financial situation, so that we can provide you with a list of lenders that can provide the exact finance you need at competitive rates.

Our panel of lenders includes traditional high street banks and more alternative forms of finance such as peer to peer lenders, which means we can provide loans to almost every business. You will be presented with a list of potential loans that are ranked in order of how well they match your requirements, cost and repayment terms.

When applying for a business loan what do banks look at?

Our finance finder is designed to act as the pre-qualification stage of the application process, so once you find the ideal option, applying for a business loan is very quick and simple. During the loan application you will be required to supply a variety of documents to the lender, such as your financial accounts, a business plan and the value of any assets to be used as security.

Once the lender has finished assessing your application, they will offer you a loan with the repayment terms and charges based on the level of risk associated with the finance. When applying for a business loan with bad credit It is important to review the level of interest and any charges within the terms and conditions as they may be higher than you originally expected.

If you would like to find out more about applying for a business loan, or how you can improve your chances of being approved, please contact our knowledgeable team today.

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