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

Decide why you are comparing deals for business loans and why you want to borrow the money. Work out how much you need to borrow and how long you'd need to repay. Once you have decided on a small business loan find the cheapest small business loan deal by comparing a number of companies.

2

Compare your options

Have a look through the options to find the best small business loan for your business needs. Terms and repayments can vary between providers so check any conditions attached to the loan then pick a deal that offers the cheapest small business loan for your business.

3

Apply and save

You may be able to get a cheaper business loan by applying online and some lenders and brokers only ever operate digitally, so to make sure you find the best small business loan deals comparing quotes on the internet is a must. Once you've decided on the provider you want, simply apply.

Small business loan deals

9 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. A key aim of the Recovery Loan Scheme is to improve the terms on offer to businesses.
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?

Small business loans are exactly what they sound like - they're cash loans for small businesses.

As with any kind of loan, to get one of these small business loans, you'll have to meet the lender's criteria. This varies between lenders, but typically your business must not employ more than 50 people, or have an annual turnover of more than £150,000.

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

  • Employee wages

  • Rent for your work premises

  • Equipment

  • Marketing

  • Training

  • Recruitment

  • Stock.

Use the comparison above to check the loan amounts each lender can offer. However, the amount you could get depends on your business' income and acceptance relies on passing a credit check.

How to get a small business loan

If you need a cash injection for your small business, you might be looking into how to get a small business loan. It's not hard to apply and is quick to do online. It doesn't take long to get the money put into your business bank account either.

Remember that to apply for any small business loans, you don't need a large turnover. You also don't need to have been up and running for a specific amount of time.

Before you can compare the cost of small business loans, you need to check:

  • That lenders can offer the loan amount you need

  • What is the representative Annual Percentage Rate (APR) that each lender offers

  • The term each lender lets you borrow over (so, how long it'll take to pay it back).

When you've got a shortlist of lenders, you can work out which small business loans will be the cheapest and most suitable for your business.

Here's more information on business loans

What kind of small business loans are there?

It doesn't matter what kind of small business you have, it shouldn't affect your chances of getting a small business loan.

Here are some examples of what you could get:

  • small home business loans

  • pub business loans

  • retail business loans

  • loans for beauty salons/salon business loans

  • and loans for all kinds of other businesses.

It can be a helpful way to boost your cashflow, grow your business or manage a period of uncertainty.

What will your business loan cost?

The amount you pay for small business loans depends on several factors. These include:

  • The amount you borrow

  • The term you choose to repay the loan

  • The APR you get when you apply.

You'll get a fixed APR for the duration of your small business loan. This'll be confirmed you go through a credit check as part of your small business loan application.

The higher the APR, the more interest you'll pay. Look at a range of small business loans to find the lowest possible APR for the amount you want to borrow. This'll cut the amount of interest you need to pay.

Some lenders have loan calculators on their site to give you an idea of your loan repayments.

Can you get a start up loan for a small business?

Yes, but if you need small business funding for a start up you may need to apply for a start up business loan instead.

This loan type helps companies with limited trading experience apply for cash.

Compare small business startup loans here

Does the government offer any small business loans?

The government has introduced financial support for businesses as a result of the pandemic. These include:

  • Bounce Back Loan Scheme. This allows smaller businesses to borrow £2,000-£50,000, interest free for the first 12 months. These loans are 100% government-backed. You can find out more about the Bounce Back Loan Scheme here.

  • Coronavirus Business Interruption Loan Scheme - This allows larger businesses to borrow from £50,001 up to £5 million. These loans are 80% government-backed. You can read more about the Coronavirus Business Interruption Loan Scheme here.

Small business loans FAQs

About our small business loans comparison

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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