A secured business loan means you need to provide assets as security to cover the amount being borrowed. Assets can include property or company shares.
Nationwide Finance Business Loan

A business loan is a way to get extra funds to run or grow your business successfully. The loan could cover rent for your business’ property, employee salaries or opening new offices.
This finance option is available for existing companies or startups and works in a similar way to a personal loan. For example, your business borrows an amount of money and then this is repaid in instalments over an agreed time by the lender.
You can borrow as little as £500 or as much as £5 million. Every loan provider sets different limits on how much they’re willing to lend. This means your choices for a lender may be limited by the amount you wish to borrow.
The government also offers business loans, including the Start Up Loan scheme which aims to help small businesses via a loan of £500 to £25,000.
There are different types of business loans, including unsecured and secured."
If you would like a loan for your business then the first step is applying for one with a suitable lender. You’ll need to tell them what it’s for and illustrate your current financial situation so that they can see how you’ll repay the loan.
During the application process you’ll also need to decide how long it’ll take to repay. This can range from one year to 30 years, depending on whether you choose a medium or long-term loan.
The longer your loan term, the lower your monthly payments will be, but you'll pay more in interest overall. Our loan repayment calculator can help you determine how long you need to repay your loan based on how much you can afford to pay every month.
You will need a variety of documents to secure a business loan.
These include financial statements, personal tax returns, business tax returns, business bank statements and company director proof of address and IDs.
To be eligible you’ll need to be over 18, a current UK resident and pass credit checks. It’s important to check the specific terms and conditions for each loan to make sure your business fits the criteria.
A secured business loan means you need to provide assets as security to cover the amount being borrowed. Assets can include property or company shares.
A startup loan works in the same way as a business loan but is specifically for funding a new business or one that has been trading for less than 36 months.
A loan of this type makes it possible for your business to borrow money without having to offer any assets (including real estate) as security.
A secured business loan means you need to provide assets as security to cover the amount being borrowed. Assets can include property or company shares.
A startup loan works in the same way as a business loan but is specifically for funding a new business or one that has been trading for less than 36 months.
A loan of this type makes it possible for your business to borrow money without having to offer any assets (including real estate) as security.
If you would like a business loan then you’ll want to make sure that you secure it seamlessly. Therefore, it’s a good idea to do some preparation before applying.
For example, check your credit report as this is what lenders will do, so it’s best to improve your credit score before applying.
You should also check your business accounts to ensure that everything is in order and organise your finances accordingly, whether that is settling any debt or ensuring you can demonstrate a positive cash flow.
It's also important to keep an eye on interest rates as this will impact the loan. The Bank of England releases data each month on SME loans, so this will give you a clear view of the market. For example, in June the effective interest rate on new loans to SMEs saw an increase, from 6.86% to 7.13%.
Crowdfunding is when you pitch your business idea online and offer perks or rewards to investors if your target is met. It can be a good alternative to startup business loans for new business ventures.
These are offered by banks and building societies and can be up to £250,000 over one to 15 years. They're usually unsecured loans.
A business credit card is good for day-to-day transactions and expenses, plus several members of staff can have a card. But remember that they're not great for long-term borrowing as most charge a high interest rate once the introduction period ends.
Government grants help businesses in certain sectors, or businesses in specific areas of the UK. The good thing about grants is that you don't have to pay the money back, and you keep full ownership of your business.
Crowdfunding is when you pitch your business idea online and offer perks or rewards to investors if your target is met. It can be a good alternative to startup business loans for new business ventures.
These are offered by banks and building societies and can be up to £250,000 over one to 15 years. They're usually unsecured loans.
A business credit card is good for day-to-day transactions and expenses, plus several members of staff can have a card. But remember that they're not great for long-term borrowing as most charge a high interest rate once the introduction period ends.
Government grants help businesses in certain sectors, or businesses in specific areas of the UK. The good thing about grants is that you don't have to pay the money back, and you keep full ownership of your business.
In terms of whether you need a business account for a business loan, it depends on the loan and lender. Some banks may insist that you have a business current account with them before they will accept you for a loan.
No, you don't need to be the owner of a company to get a loan. Registered company directors can apply for most business loans.
Yes, small businesses can get loans, but you may be offered different ones depending on your firm's size and revenue. For instance, only new businesses can get government start-up loans.
Yes, your business does have a credit record and it may affect whether or not your loan application will be accepted. You can find the credit score for your business on the Experian website.
You could lose your home if your business defaults. It all depends on the type of loan you choose, whether it is secured against your home and if you sign a director guarantee. Always check the terms and conditions carefully before agreeing to any loan.
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