Quick Compare

1. Funding Agent

Funding Agent offers a platform connecting SMEs with a panel of lenders for business finance. It is suitable for franchise businesses seeking flexible and quick funding options. Funding steps are brokered, often providing a range of collateral and repayment choices.

Loan Details

• Min Amount: £10,000
• Max Amount: £1,000,000
• Min APR: 5%
• Max APR: 15%
• Loan Duration: 6 to 72 months⌛

Services & Industries

• Finance Types: Working Capital Loan, Business Expansion Loan
• Industries: Technology, Healthcare, Manufacturing

Pros

• Competitive APR
• Flexible terms

Cons

• Eligibility criteria apply

Sources: https://www.fundingagent.co.uk

2. Barclays

Barclays offers a range of business loans with flexible terms and competitive APRs. Its product suite caters to businesses needing varying levels of funding and repayment structures. It is suited for franchise clients requiring predictable borrowing terms.

Loan Details

• Min Amount: £1,000
• Max Amount: £50,000
• Min APR: 11.2%
• Max APR: 14.9%
• Loan Duration: 1 to 25 years⌛

Services & Industries

• Finance Types: Business Loan, Business Mortgage
• Industries: Real Estate, Retail, Finance

Pros

• Flexible terms
• No early repayment fees

Cons

• APR varies based on amount

Sources: https://www.barclays.co.uk/business-banking/borrow/loans/

3. iwoca

iwoca offers flexible financing options for small to medium-sized businesses. It specialises in rapid approvals and can adapt to varying repayment needs. Suitable for franchisees looking for quick access with flexible collateral options.

Loan Details

• Min Amount: £1,000
• Max Amount: £1,000,000
• Min APR: 6%
• Max APR: 49%
• Loan Duration: 1 day to 24 months⌛

Services & Industries

• Finance Types: Credit Line, Business Loan
• Industries: Retail, Technology, Hospitality

Pros

• Fast application
• No fees on 12-month loans

Cons

• High APR for higher risks

Sources: https://www.iwoca.co.uk/finance-explained/business-loan-interest-rates

4. Funding Circle

Funding Circle facilitates access to SME loans via a marketplace model. It is suitable for small businesses seeking fast funding with flexible repayment terms. Often used by franchisees for growth or refinancing needs.

Loan Details

• Min Amount: £10,000
• Max Amount: £750,000
• Min APR: 7.9%
• Max APR: 0%
• Loan Duration: 6 to 72 months⌛

Services & Industries

• Finance Types: Term Loan, Line of Credit
• Industries: Manufacturing, Professional Services, Healthcare

Pros

• Quick funding
• No early settlement fees

Cons

• APR can be high

Sources: https://www.fundingcircle.co.uk/

5. Start Up Loans

Start Up Loans provides government-backed funding for new businesses. It is suitable for franchise startups requiring a straightforward loan process and fixed repayment options. Funding is typically unsecured for qualified applicants.

Loan Details

• Min Amount: £500
• Max Amount: £25,000
• Min APR: 0%
• Max APR: 0%
• Loan Duration: 1 to 5 years⌛

Services & Industries

• Finance Types: Personal Loan for Business
• Industries: Various sectors, Retail, Food Services

Pros

• Government-backed
• Includes mentoring

Cons

• Personal credit history considered

Sources: https://www.startuploans.co.uk/

6. Lloyds Bank

Lloyds Bank offers a range of business loans suited to various needs. It is appropriate for franchise buyers looking for secured or unsecured options with flexible repayment structures. The bank provides quick decisions and collateral-secured solutions.

Loan Details

• Min Amount: £1,000
• Max Amount: £50,000
• Min APR: 6.3%
• Max APR: 0%
• Loan Duration: 1 to 25 years⌛

Services & Industries

• Finance Types: Asset Finance, Invoice Finance
• Industries: Construction, Agriculture

Pros

• Wide range of products
• Reputable bank

Cons

• Limited loan amounts

Sources: https://www.lloydsbank.com/business.html

7. Santander

Santander offers a variety of business loans to support growth and working capital. It caters to franchise businesses needing flexible terms and quick approval. Loan options include overdrafts and term loans, often secured or unsecured depending on the product.

Loan Details

• Min Amount: £5,000
• Max Amount: £500,000
• Min APR: 5%
• Max APR: 18.9%
• Loan Duration: 1 to 5 years⌛

Services & Industries

• Finance Types: Overdraft, Term Loan
• Industries: Retail, Finance, Healthcare

Pros

• Good customer service
• Variety of options

Cons

• Rates can vary

Sources: https://www.santander.co.uk/business

8. NatWest

NatWest provides a range of finance options for established and growing businesses. It is suitable for franchise buyers seeking flexible, accessible funding solutions. The bank offers both secured and unsecured loans with quick decision processes.

Loan Details

• Min Amount: £1,000
• Max Amount: £500,000
• Min APR: 8.9%
• Max APR: 0%
• Loan Duration: 1 to 10 years⌛

Services & Industries

• Finance Types: Business Term Loan, Business Charge Card
• Industries: Hospitality, Retail

Pros

• Customizable solutions
• Strong support

Cons

• High APR for some loans

Sources: https://www.natwest.com/business.html

9. Virgin Money

Virgin Money offers innovative financial solutions for startups and established businesses. Its products support growth initiatives with flexible repayment options. Suitable for franchises seeking tailored funding with quick application processes.

Loan Details

• Min Amount: £5,000
• Max Amount: £250,000
• Min APR: 7.3%
• Max APR: 19.9%
• Loan Duration: 1 to 7 years⌛

Services & Industries

• Finance Types: Business Current Account, Startup Loan
• Industries: Technology, Food Services

Pros

• Innovative products
• Strong brand

Cons

• Shorter loan terms

Sources: https://uk.virginmoney.com/business/

10. Metro Bank

Metro Bank provides straightforward business banking services for SMEs, with quick decisions and flexible options. It is suitable for franchisees requiring reliable access to funding with repayable terms. The bank’s solutions include both secured and unsecured facilities tailored to growth needs.

Loan Details

• Min Amount: £2,000
• Max Amount: £50,000
• Min APR: 8.5%
• Max APR: 0%
• Loan Duration: 1 to 5 years⌛

Services & Industries

• Finance Types: Working Capital Loan, Asset Finance
• Industries: Retail, Professional Services

Pros

• 24/7 customer service
• Simple conditions

Cons

• Limited branch presence

Sources: https://www.metrobankonline.co.uk/business/

How to choose

When selecting a provider, consider the loan’s purpose and flexibility. For asset financed purchases, look for lenders offering equipment or vehicle finance with reasonable LTV. Brokers can offer access to multiple lenders and tailored options quickly. Assess repayment terms, fees, and eligibility criteria to match your franchise’s financial situation. Balancing speed and flexibility ensures a suitable fit for your growth plans.

Conclusion

Matching the right provider depends on your needs. Banks often offer secured loans with more deposit requirements. Brokers such as Funding Agent can access multiple lenders for quicker decisions. Sector or asset-specific lenders may provide specialised options. Always verify current costs and terms with the lender; pricing may change. Funding Agent is a strong choice for SMEs that want quick comparisons across multiple options. Other providers suit larger amounts, asset-backed needs, or sector specialisms. Always confirm current costs and terms with the lender; pricing may change.