Compare long-term business loans and find finance for a five-year term or longer.
You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.
Prepare a business plan
Think about why you want to borrow the money, how much you need, and over how long you want to repay it. If you decide that a long-term loan is right for your business, look for the cheapest on the market.
Look through the options to find the best fit for your business needs. Check any conditions attached to the loan, then pick a deal that offers you the lowest interest rate with a term length that makes the repayments affordable.
Apply for the loan
While banks offer commercial finance options, some lenders and brokers only operate digitally. To find the best long-term loan, you need to compare quotes on the internet. Once you’ve decided on the provider, you’re ready to apply.
A long-term business or commercial loan provides your organisation with the capital it needs to grow. You can use the money to increase your workforce, upgrade your equipment, or provide the working capital required for day-to-day running costs.
Short-term borrowing, conversely, puts a lot of pressure on cash flow and limits the amount a small or medium-sized business can affordably borrow.
Some businesses may benefit more from long-term loans than others, such as:
New companies usually need cash due to the high expense of establishing a business. A long-term loan can provide the funds required to launch a venture while keeping monthly payments manageable
A long-term loan can supply the cash needed to grow an operation
When looking for an affordable loan, there are some basic questions you need to answer. Determine:
how much your business needs to borrow
how long you need to pay back the loan
what type of loan is best for your company
The lenders in this comparison offer long-term loans ranging from just a few thousand pounds up to £500,000 or more. Work out exactly how much your business needs to borrow, but keep it to a minimum to make your loan cheaper.
A longer term can reduce your monthly repayments, making the loan more affordable day-to-day. All the lenders in this comparison offer loans that can last for five years or more but don’t opt for longer than necessary. The lengthier the term, the more you'll pay in interest overall.
You are now ready to compare interest rates for the loan amount and term you want. Use our comparison to find the cheapest deal.
Lenders in our comparison offer terms up to a maximum of 10 years.
Yes. If you can show that your business can afford the loan, you should be able to borrow, but it may be more expensive.
Not always. You can apply for some business loans if you are a registered company director.
Our comparison tables include providers with whom we have commercial arrangements. The number of listings in our tables can vary depending on the terms of those arrangements and other market developments. They are all from lenders regulated by the Financial Conduct Authority (FCA). Here is more information about how our website works.
We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra, and the deal you get is not affected.
Comparing business loans could save you money. Our multiple award-winning comparison service makes sure you get the lowest rates possible based on your individual circumstances. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.
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Last updated: 26th May, 2022