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Compare business loans: every lender, side by side

The lender table: term loans for UK businesses from high-street banks, alternative lenders and a government-backed scheme, compared on what each one publishes on its own website. Amounts, terms, rates, fees and eligibility, each with its source.

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Edited by Reviewed

Lenders compared
96 high-street banks, 2 alternative lenders, 1 government-backed
Lowest published rate
from 6.9%Funding Circle: a floor for the strongest applicants, not a typical rate
Latest check
1 Nov 2026on the lenders’ own pages; oldest figure 26 Sep 2026, date shown on every card
Showing 9 of 9 lenders

Banks 6 lenders

Each bank’s figures were read on its own business-loans page. A published rate is shown as the bank states it; your own rate depends on your business.

Barclays

High-street bank

Source: barclays.co.ukchecked 2026-11-01

Amount
£1,000 to £25,000
Term
Terms between one and 10 years
Rate
11.2% APR representative overall (£1,000 to £25,000)
Speed
Money usually within 48 hours of signing the paperwork; existing customers may get an immediate decision.
Fees, security and eligibility
Fees
No arrangement fees. No fees for repaying your loan early.
Security
Unsecured
Eligibility
Apply in Online Banking or the app if you already have a Barclays business account. Loans aren't available for all industries; subject to lending assessment, status and application. Amounts above £100,000 need a secured business loan.
Speed in full
Money usually within 48 hours of signing the paperwork; existing customers may get an immediate decision.
Rate in full
11.2% APR representative overall (£1,000 to £25,000). By amount: 14.9% up to £5,000; 11.2% £5,001 to £15,000; 8.5% £15,001 to £25,000

Lloyds Bank

High-street bank

Source: lloydsbank.comchecked 2026-10-13

Amount
£1,000 to £50,000
Term
Starting from one year; between 1 and 10 years when you apply online
Rate
11.2% APRrepresentative
Speed
The money could be in your account in 48 hours once the application is accepted.
Fees, security and eligibility
Fees
No arrangement fees or early repayment fees.
Security
Unsecured
Eligibility
Representative APR applies to unsecured loans for businesses with a turnover of up to £25 million. Must be at least 18, borrow at least £1,000, need the money for business purposes, and be a sole trader, partner or director authorised to borrow for the business.
Speed in full
The money could be in your account in 48 hours once the application is accepted.

HSBC UK

High-street bank

Source: business.hsbc.ukchecked 2026-11-01

Amount
£1,000 to £25,000
Term
Repayment terms of between 12 months and 10 years
Rate
11.3% Representative APR for loans up to and including £10,000
Speed
Speed not published.
Fees, security and eligibility
Fees
No arrangement fee. No charges for additional repayments. Early repayment: may be entitled to an interest rebate, but one month and 28 days' interest is deducted from the rebate. If security is required, an administration fee is payable.
Security
Either (security may be required)
Eligibility
No requirement to open or maintain an HSBC Business Current Account unless a debenture or fixed charge over book and other debts is required. Security may be required, each case considered on its merits.
Rate in full
11.3% Representative APR for loans up to and including £10,000. 8.6% Representative APR for loans over £10,000.

NatWest

High-street bank

Source: natwest.comchecked 2026-11-01

Amount
£1,000 to £100,000
Term
Loan terms from 1 to 7 years
Rate
12.57% APRrepresentative
Speed
Apply in about 10 minutes; if approved, you could have the money within 24 hours.
Fees, security and eligibility
Fees
You won't pay set-up fees and early repayment or early closure fees.
Security
Unsecured
Eligibility
Aged 18 or over; a director of the business you're applying for; not declared bankrupt and no CCJ or Court Decree; hold a Business Current Account with any provider. May need to open a fee-free Loan Servicing Account. Over £50,000 and up to £100,000 is a separate online application.
Speed in full
Apply in about 10 minutes; if approved, you could have the money within 24 hours.
About the rate
NatWest's own example: a fixed 11.90% interest rate, £508.17 a month, £11,179.77 repaid in total. It says other amounts are available at alternative rates

Santander UK

High-street bank

Source: santander.co.ukchecked 2026-11-01

Amount
£1,000 to £50,000
Term
Repay over 1 to 7 years
Rate
11.2% APRrepresentative
Speed
After signed documents are checked, funds can take up to 3 working days to arrive.
Fees, security and eligibility
Fees
Overpay at no extra cost. Early settlement figure includes interest up to the repayment day (28 days assumed) and 'any charges that will apply'. No arrangement fee is published.
Security
Unsecured
Eligibility
Sole trader, partnership or private limited company with no more than 2 partners or directors who own the business entirely; all aged 18+ and UK residents; good credit history, not bankrupt, no IVA in the last 6 years. A personal guarantee may be required for limited companies and LLPs. Funds go to the business current account.
Speed in full
After signed documents are checked, funds can take up to 3 working days to arrive.

Metro Bank

High-street bank

Source: metrobankonline.co.ukchecked 2026-11-01

Amount
£2,000 to £60,000
Term
1-5 years
Rate
Typically 9.6% APR fixedpublished as “typically”, not as a representative APR
Speed
Speed not published.
Fees, security and eligibility
Fees
Arrangement fees: Zero. Other fees we may charge: None.
Security
Either (security may be required)
Eligibility
Must have a Metro Bank Business Bank Account; security likely needed. Generally for businesses with £2 million turnover and under (exceptions considered). Apply in store.

Alternative lenders 2 lenders

Online lenders. Some price each business individually, so the rate may read “Priced per quote”.

Funding Circle

Alternative lenderLowest published starting rate

Source: fundingcircle.comchecked 2026-09-26

Amount
£10,000 to £750,000
Term
up to 6 years
Rate
from 6.9%a floor, not typical
Speed
Decision in as little as 5 minutes; funds typically within 48 hours.
Fees, security and eligibility
Fees
No fee to settle early. A completion fee applies and is added to the loan.
Security
Unsecured
Eligibility
2+ years trading generally expected; latest accounts and bank statements requested.
Speed in full
Decision in as little as 5 minutes; funds typically within 48 hours.
About the rate
Rates from 6.9% per year is a floor for the strongest applicants, not a typical rate.

iwoca

Alternative lenderHighest maximum amount

Source: iwoca.co.ukchecked 2026-09-26

Amount
£1,000 to £1,000,000
Term
1 day to 5 years
Rate
Priced per quote
Speed
Often a decision in hours.
Fees, security and eligibility
Fees
No fee for repaying early. A director's personal guarantee is required.
Security
Unsecured
Eligibility
Limited company or LLP, UK-based. Businesses trading under a year are capped at £10,000.
About the rate
iwoca does not publish a single representative APR on its Flexi-Loan page; it prices each facility individually, so a quote is the only real figure.

Government-backed 1 lender

A government-backed scheme: the same published rate for every borrower.

Start Up Loans (British Business Bank)

Government-backed

Source: startuploans.co.ukchecked 2026-10-13

Amount
Up to £25,000
Term
1 to 5 years
Rate
7.5% APRrepresentative
Speed
Weeks rather than days: it is an assessed government scheme, not instant lending.
Fees, security and eligibility
Fees
No application fee and no early repayment fee. Includes free mentoring.
Security
Unsecured
Eligibility
For businesses trading under 3 years (or pre-start). One loan per person, up to £25,000 each, subject to affordability.
Speed in full
Weeks rather than days: it is an assessed government scheme, not instant lending.
About the rate
A fixed 7.5% per year, the same for everyone, which is unusual: most business lending is priced on risk. The trade-off is the £25,000 cap and the assessment.

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9 lenders. The high-street bank figures were read on each bank’s own page on 13 October 2026; the others on the date in each card. Lender names and logos are trademarks of their respective owners, shown only to identify each lender. No endorsement or commercial relationship.

Work out your repayments

Put in an amount, a rate and a term and see the monthly repayment, the total repayable and the interest, month by month. Illustrative, free, and nothing is collected.

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How we compare, and what the rate means

We list what each lender publishes and nothing we cannot source. No star ratings and no “best” badges: that would be a judgement we have not made. Read the full methodology.

Representative APR

The rate at least 51% of accepted borrowers get, not a rate you are promised. Yours can be higher.

“From” rates

A floor for the strongest applicants. It is the best case, not a typical rate, so we label it as a floor.

Priced per quote

The lender does not publish a single rate and assesses each business. The only figure that binds is its own quote for your business.

Illustrative repayments

What each published rate works out to in pounds, as simple arithmetic on the rate each lender states. See how to compare business loans for the method.

Borrowing £10,000 over 5 years

LenderPublished rateMonthlyTotal repayableInterestRate source
Start Up Loans (British Business Bank)Start Up Loans (British Business Bank)fixed rate, the same for every borrower
7.5%£199.21£11,952.73£1,952.73source
checked 2026-10-13
Metro BankMetro Bank“typically” APR as published
9.6%£208.56£12,513.87£2,513.87source
checked 2026-11-01
BarclaysBarclaysrepresentative APR for this amount
11.2%£215.75£12,944.88£2,944.88source
checked 2026-11-01
Lloyds BankLloyds Bankrepresentative APR
11.2%£215.75£12,944.88£2,944.88source
checked 2026-10-13
Santander UKSantander UKrepresentative APR
11.2%£215.75£12,944.88£2,944.88source
checked 2026-11-01
HSBC UKHSBC UKrepresentative APR for this amount
11.3%£216.20£12,971.91£2,971.91source
checked 2026-11-01

Borrowing £25,000 over 5 years

LenderPublished rateMonthlyTotal repayableInterestRate source
Start Up Loans (British Business Bank)Start Up Loans (British Business Bank)fixed rate, the same for every borrower
7.5%£498.03£29,881.81£4,881.81source
checked 2026-10-13
BarclaysBarclaysrepresentative APR for this amount
8.5%£509.14£30,548.14£5,548.14source
checked 2026-11-01
HSBC UKHSBC UKrepresentative APR for this amount
8.6%£510.25£30,614.95£5,614.95source
checked 2026-11-01
Metro BankMetro Bank“typically” APR as published
9.6%£521.41£31,284.66£6,284.66source
checked 2026-11-01
Lloyds BankLloyds Bankrepresentative APR
11.2%£539.37£32,362.19£7,362.19source
checked 2026-10-13
Santander UKSantander UKrepresentative APR
11.2%£539.37£32,362.19£7,362.19source
checked 2026-11-01

Arithmetic on each lender’s published rate for that amount, assuming no fees (none of these lenders publishes a compulsory arrangement fee). APR is converted to a monthly rate the way the APR definition requires, which matches the lenders’ own representative examples to within pennies. Not an offer: a representative APR is what at least 51% of accepted applicants get, and your rate may be higher.

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. The security line in each card’s details shows what each lender states. More in our guide to unsecured business loans.

Everyday spending rather than a lump sum?

A loan is a fixed sum for a one-off need. For regular purchases you will repay within weeks, a business credit card can cost nothing in interest if you clear the statement, but is dearer than a loan if you carry a balance. See card, loan or overdraft.

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. See how to compare business loans for what each published rate works out to in pounds.

Frequently asked questions

Which bank has the cheapest business loan?

On published representative APRs, the rate depends on the amount: some banks publish a lower rate for larger loans. Each bank's card shows its published figure by amount. Your own rate is set on application and can be higher.

Do I need to bank with the lender?

Some banks lend only to their own business current account customers; others do not require it. Each lender's stated eligibility is in the details on its card.

Where can I learn what a business loan costs and who can get one?

Start with our UK business loans overview, which explains what a business loan is, the types, what it costs and what lenders look at. This page is the lender-by-lender comparison.

Are business loans regulated?

Lending of £25,000 or less to sole traders and small partnerships is generally a regulated credit agreement. Most lending to limited companies is not regulated, so read the terms carefully.

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