Quick Compare:

1. Funding Agent

Funding Agent Funding Agent is a UK business finance broker that helps SMEs access funding from a panel of lenders. It suits UK SMEs seeking clear options and predictable terms. Here's what to know:

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 Business Banking

Barclays Business Banking Barclays offers a wide range of business loans with competitive APRs and flexible repayment options. It suits UK SMEs seeking clear options and predictable terms. Here's what to know:

Loan Details

• Min Amount: £1,000
• Max Amount: £3,000,000
• Min APR: 11.2%
• Max APR: 14.9%
• Loan Duration: 1 to 25 years⌛

Services & Industries

• Finance Types: Business Loans, Business Mortgages
• Industries: Retail, Manufacturing, Technology

Pros

• No early repayment fees
• Flexible terms

Cons

• Eligibility criteria apply

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

3. Lloyds Bank

Lloyds Bank Lloyds Bank offers business loans with fixed interest rates and flexible repayment options. It is suited for franchise buyers and businesses looking for predictable financing with flexible terms. The process often involves security and can support a range of loan amounts.

Loan Details

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

Services & Industries

• Finance Types: Business Loans
• Industries: Small Businesses, Startups

Pros

• Fixed interest rates
• Comprehensive support

Cons

• Limited maximum loan amount

Sources: https://lloydstsb.co.uk/business/business-loans.html

4. HSBC Business Banking

HSBC Business Banking HSBC provides a range of business loans that often include options for secured and unsecured finance. It supports small businesses seeking flexible repayment options and competitive rates. The offerings can include short-term and longer-term facilities with varied collateral requirements.

Loan Details

• Min Amount: £1,000
• Max Amount: £50,000
• Min APR: 7.1%
• Max APR: 5.8%
• Loan Duration: 1 to 10 years⌛

Services & Industries

• Finance Types: Small Business Loans, Flexible Business Loans
• Industries: Various Sectors

Pros

• No arrangement fee
• Deferral options available

Cons

• APR may vary based on creditworthiness

Sources: https://www.iwoca.co.uk/small-business-loans/hsbc

5. Iwoca

Iwoca Iwoca offers quick access to flexible business loans for SMEs, often tailored with various repayment options including both short and longer terms. It is suitable for franchise businesses and those needing rapid funding. The platform often facilitates fast decision making and minimal collateral requirements.

Loan Details

• Min Amount: £1,000
• Max Amount: £1,000,000
• Min APR: 0%
• Max APR: 0%
• Loan Duration: 1 day to 24 months⌛

Services & Industries

• Finance Types: Working Capital Loans
• Industries: Retail, Services

Pros

• Quick decision
• No early repayment fees

Cons

• Higher interest for some borrowers

Sources: https://www.iwoca.co.uk/small-business-loans

6. Virgin StartUp

Virgin StartUp Virgin StartUp provides government-backed startup loans often with additional mentoring and support. It aims to assist new businesses with accessible financing and flexible repayment options. The focus is on supporting entrepreneurs in the early stages of their ventures.

Loan Details

• Min Amount: £500
• Max Amount: £25,000
• Min APR: 6%
• Max APR: 6%
• Loan Duration: 6 months to 5 years⌛

Services & Industries

• Finance Types: Startup Loans
• Industries: Startups, Entrepreneurship

Pros

• Fixed low interest
• Mentoring available

Cons

• Only for startups

Sources: https://www.virginstartup.org/start-up-loans/

7. Capify

Capify Capify offers fast and flexible funding options for small and medium-sized businesses. It supports franchise owners and firms requiring quick access to working capital. Its solutions often include short-term and unsecured finance avenues.

Loan Details

• Min Amount: £5,000
• Max Amount: £3,000,000
• Min APR: 67.89%
• Max APR: 67.89%
• Loan Duration: Unknown⌛

Services & Industries

• Finance Types: Business Loans, Merchant Cash Advances
• Industries: Various

Pros

• Fast approval
• Same-day funding

Cons

• High interest rates

Sources: https://www.capify.co.uk/small-business-loans/

8. SME Loans

SME Loans SME Loans provides tailored funding solutions to support small businesses in the UK. It often includes options for quick, unsecured finance and flexible repayment plans. Suitable for those seeking straightforward funding with minimal collateral requirements.

Loan Details

• Min Amount: £0
• Max Amount: £0
• Min APR: 0%
• Max APR: 0%
• Loan Duration: Unknown⌛

Services & Industries

• Finance Types: Business Loans
• Industries: Small Businesses

Pros

• Tailored solutions
• Supportive customer service

Cons

• Details vary by lender

Sources: https://www.business.hsbc.uk/en-gb/products/small-business-loan

9. Funding Circle

Funding Circle Funding Circle is a peer-to-peer lending platform that matches investors with small and medium-sized businesses. It offers competitive rates with quick access to funding, often suited for growth capital and refinancing. Features include flexible loan amounts and repayment terms.

Loan Details

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

Services & Industries

• Finance Types: Business Loans, Lines of Credit
• Industries: Various

Pros

• No early settlement fees
• Fast approval process

Cons

• May require detailed financials

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

10. Simply Business

Simply Business Simply Business acts as a broker offering access to a variety of business loan options through multiple lenders. It is suitable for franchise operators and small firms looking for flexible terms and quick decisions. The platform provides comparison and tailored funding solutions.

Loan Details

• Min Amount: £5,000
• Max Amount: £250,000
• Min APR: 0%
• Max APR: 0%
• Loan Duration: Unknown⌛

Services & Industries

• Finance Types: Broker for Business Loans
• Industries: Small Businesses, Startups

Pros

• Wide lender network
• Comparative options

Cons

• Broker fees may apply

Sources: https://www.simplybusiness.co.uk/knowledge/funding/best-small-business-loans/

How to choose

When selecting a provider for the 10 Best Business Line of Credit Providers in the UK, consider the type of lender. Banks often offer fixed-rate, secured loans suitable for larger, long-term funding. Brokers provide access to multiple options, helping compare flexible, short-term, or unsecured loans. Specialist lenders might cater to specific sectors or types of collateral. Match your funding needs with the lender’s strengths for the best fit. Clear understanding of repayment terms and costs is essential before applying.

Conclusion

Matching the right provider depends on your specific use case. Banks often serve those seeking long-term, secured finance. Brokers are suitable for quick comparisons across many options. Specialist lenders can address sector-specific or secured needs. 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.