Compare small business loans

Find the finance you need for your small business with our range of small business loans. Compare rates and repayment periods and find the right loan for your company.

  • Compare small business loans offered by leading providers
  • View terms, rates and repayments
  • Money.co.uk's service is simple, fast and free of charge

Compare small business loans from leading providers

Looking through a range of options gives you more chance of securing a great deal. You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

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How to compare small business loans

1

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.

2

Compare your options

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.

3

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.

Small business loan deals

8 results found, sorted by affiliated products first. How we order our comparisons. Commission earned affects the table's sort order.
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Funding Circle Business Loan
Loan Type
Unsecured term loan
Loan amount
£10,000 to £500,000
Loan term
24 months to 72 months
Funding Circle Business Loan
To be eligible to apply you need to be based in the UK and have been trading for 2 years. Funding Circle also offers the Government's Recovery Loan Scheme through its network of lending partners until June 30, 2022.
If you can be offered a Funding Circle business loan for the same amount on similar or better terms, without requiring the guarantee provided by the scheme, you will be. The rate you will get will vary based on your circumstances.
Funding Options Business Loans
Loan Type
Unsecured term loan
Loan amount
£1,000 to £15,000,000
Loan term
1 month to 120 months
Funding Options Business Loans
Funding Options is a Credit Broker and not a Lender. Their APR starts from 2.75% and has an average of 7.38%. They can help you prepare and submit your Recovery Loan Scheme application through multiple RLS accredited Lenders.
Minimum Turnover is £60,000 with 12 months minimum trading. Some lenders may apply fees during the application process, please note that these are set and provided by these entities.

What is a small business loan?

It’s exactly what you’d expect – a cash loan suitable for a small business. 

As with any loan, you must meet the lender’s criteria. These vary between providers, but typically your business needs to employ no more than 50 people and have an annual turnover of less than £150,000 to qualify. 

You can use small business loans for most company expenses, including:

  • employee wages

  • rent for your work premises

  • equipment

  • marketing

  • training

  • recruitment

  • stock

What kind of small business loans can I get?

The type of company you run shouldn’t affect your chances of getting a small business loan – home businesses, pubs, retail establishments, salons and more can all benefit. A loan is a helpful way to boost your cash flow, grow your business or manage a period of uncertainty.

Can I get a start-up loan for a small business?

Yes. That said, if you want funding for a new business, you may need to apply for a start-up loan rather than a small business loan. A start-up loan helps companies with limited trading experience apply for cash.

Compare small business start-up loans here

Does the government offer any small business loans?

If you’re trying to establish a new business, a government start-up loan could be a good option. These can offer between £500 and £25,000, a fixed interest rate of 6%, payment terms of between one and five years, and are backed by the government.

How to get a small business loan

Apply online – it’s a quick and easy process, and the money arrives in your account quite rapidly too. Use the comparison above to check the loan amount each lender can offer. 

The amount of money available depends on your business’s income, while acceptance relies on passing a credit check. You don’t need a large turnover, however, or to have been up and running for a specific time. 

Before comparing the cost of small business loans, check the following:

Do any lenders offer the amount you need?

What is each lender’s representative annual percentage rate (APR)?

How long is the term for paying back the loan?

Once you’ve got a shortlist, work out which loan is the cheapest and most suitable for your business.

More information on business loans

What will your business loan cost?

The amount you pay depends on several factors, including:

How much you borrow

The term you choose

The APR

You get a fixed APR for the duration of your loan, which is confirmed when you go through the credit check as part of your application. The higher the APR, the more interest you pay. Compare a range of loans to find the lowest possible APR for the sum you want to borrow – the lower the APR, the less interest you need to pay. Some lenders have loan calculators on their sites to give you an idea of your repayments.

Small business loans FAQs

About our small business loans comparison

Explore business loan guides

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How do business loans work?

If you need funds to help your business grow or expand, a business loan could offer the solution you need. Here is how they work and how to get the right loan for your business.

More on how business loans work

Why compare loan deals with money.co.uk?

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: 15 February, 2022