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Compare business loans
Term loans for UK businesses, from alternative lenders and a government-backed scheme, compared on what each one publishes. More lenders are added as we verify their figures.
| Lender | Amount | Term | Rate | Security | Speed & source |
|---|---|---|---|---|---|
| Funding CircleAlternative lender | £10,000 to £750,000 | up to 6 years | from 6.9%a floor, not typical Unsecured | 2+ years trading generally expected; latest accounts and bank statements requested. | Decision in as little as 5 minutes; funds typically within 48 hours. source, 2026-09-26 |
| iwocaAlternative lender | £1,000 to £1,000,000 | 1 day to 5 years | Priced per quote Unsecured | Limited company or LLP, UK-based. Businesses trading under a year are capped at £10,000. | Often a decision in hours. source, 2026-09-26 |
| Start Up Loans (British Business Bank)Government-backed | £500 to £25,000 | 1 to 5 years | 6.0% APRrepresentative Unsecured | For businesses trading under 3 years (or pre-start). One loan per person, up to £25,000 each, subject to affordability. | Weeks rather than days: it is an assessed government scheme, not instant lending. source, 2026-09-26 |
How to read the rate column. A representative APR is the rate at least 51% of accepted borrowers get, not a rate you are promised. “From” figures are a floor for the strongest applicants. “Priced per quote” means the lender does not publish a single rate and assesses each business. The only figure that binds is a lender's own quote for your business.
Still verifying. These high-street figures were reported by reputable third parties but we have not yet confirmed them on each bank's own page, so they are not in the table above. We publish a rate only once we have seen the lender state it.
- Barclays, 12.9% representative APR reported (Funding Circle lender review, not yet verified on the lender's own page)
- Lloyds, 11.2% representative APR reported on loans up to £50,000 (Funding Circle lender review, not yet verified on the lender's own page)
- HSBC, 8.6%-11.3% representative APR reported depending on amount (iwoca lender review, not yet verified on the lender's own page)
- NatWest / RBS, around 12.6% representative APR reported, £1,000-£100,000 (Funding Circle lender review, not yet verified on the lender's own page)
Secured or unsecured?
An unsecured loan needs no asset as security, so it is faster and puts no specific asset at risk, but it is priced higher and a director’s personal guarantee is usual. A secured loan is cheaper and can be larger, but it is tied to an asset the lender can take. Every lender above is unsecured except where the table says otherwise.
What actually decides your rate
How long you have traded, your turnover and profitability, your filing history at Companies House, and whether you will give a personal guarantee. Two businesses asking the same lender for the same amount routinely get different rates, which is why no comparison site can quote you, only the lender can.
This is a v1
The business-loans table is live and sourced. The other finance types have explainers now and their comparison tables are being built one verified figure at a time.