December 10, 2022



Government Loans

A small business loan is no different from any other type of business finance. The...

A small business loan is no different from any other type of business finance. The credit provider gives you money upfront, and then you repay it, including any interest and fees over an agreed timeframe. With an unsecured business loan, you can borrow money without putting up your business assets as security for the loan.

  • Did you know there could be free cash hidden in the work that you do?
  • Within the form we will ask you some questions in order to be able to provide you with the best options for your needs.
  • Your interest rate is calculated on the loan term, the amount you want to borrow and your status.
  • However, this will require additional capital which may not be immediately available and require a small business loan.

If you’re looking for a loan up to £25,000 but you’re not a Lloyds Bank customer, get an online quote for a Business Loan without affecting your credit rating. If your business is reliant on machinery and technology, it may be crucial that you keep up to date with the latest industry standards. If your business requires the funding to purchase new machinery, our loans may be the solution. I’d like to receive business offers, start up news and exclusive business tips by signing up to the Start Up Loans newsletter. If you’re in a business partnership, buying an existing businessor starting a franchise, you can apply for a Start Up Loan if you meet the criteria above. Scroll down this page to find out more about the process for these applicants.

Useful Info About Our Small Business Loan

Our goal is to help owner managers and entrepreneurs to start, run, grow and succeed in business, helping turn your business idea into a profitable business. The Tradeshow Access Programme – This scheme gives organisations a helping hand when it comes to working internationally. Small business grants of between £500 and £2,500 allow SMEs to carry out promotional campaigns and attend trade shows in foreign countries, but you must match the grant fund provided.

small business loans

A secured loan will require you to put up some collateral or security. This is something that you own with a value similar to the value of the loan. In the event of you defaulting on the loan, the property will be taken and sold to cover what you owe. The benefit of this is that secured loans allow you to borrow more money, and the loan is not considered so much of a liability.

How Do I Get A Business Loan?

You can also discover how to keep track of your cash flow and put your business in the best position to make a finance application with our top tips for managing working capital. A great option for businesses that might find it hard to arrange unsecured finance. A new scheme would therefore allow small businesses otherwise locked out of commercial lending to access finance at affordable terms. Other loans will vary, but the British Business Bank is a good place to find out more.

What Credit Score Is Needed For A Small Business Loan?

For instance, you might choose a startup loan to kickstart your small business journey, short-term finance to alleviate cash flow issues or a more long-term solution to funding growth. As every loan is individual, it’s difficult to provide specifics in terms of direct monetary amounts. You should have your financial documents ready to present – namely bank statements, filed accounts, receipts and invoices, etc. Anything to give your lender a picture of your business’ recent and current financial health.

It shows you competing offers from lenders, to make sure you see the best terms. You’ll see quotes from up to 45 lenders, in a simple format, so you can easily compare and choose the offer that’s best for your business. Compare our business borrowing with borrowing offered by other lenders13. You can find out more about the government’s Bank Referral Scheme[PDF, 1.4MB], including eligibility information. In many cases, we can let you know upfront whether you’re likely to get the business lending you want – with no impact on your credit rating.

You can borrow between £1,000 and £50,000, but you may need to provide security or a guarantee in order to access funding. Working with a national network of delivery partners, Start Up Loans provides government-backed, unsecured personal loans from £500 to £25,000 to start or grow a new business. Our representative APR applies to all unsecured loans with a borrowing amount of up to £25,000 and for businesses with a turnover of up to £25 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only. Over time your business premises may become outdated or simply require maintenance work to bring it back up to standard.

At Capalona we are committed to helping companies like yours find the best loans for their businesses. for start-ups and established businesses alike can benefit from a quick cash boost. If you want to expand your business, refurbish your premises or invest in more stock, we can help get the business finance you need.