Loans & Finance

Got an idea to move your business forward?

Whatever direction you decide to take your business we can support you in finding the right lending solution. We say yes to 8 out of 10 loan and overdraft applicationsǂ.

Can I borrow for my business?

See how likely you are to get a Business Loan or Overdraft without affecting your credit rating. View indicative interest rates and repayment details. 100% of customers who use this tool get a final offer that is the same, better or no more than 10% above their initial quote.

Get a quotefor a business loan or overdraft.
  • Business Overdraft

    • Free to set up an overdraft with a limit of £5,000 or less.
    • Simple Pricing.
    • Apply for a limit that suits your business needs.

    Find out more

    Can I borrow for my business

    See how likely you are to get a Business Loan or Overdraft. View indicative interest rates and repayment details. Try different options without affecting your credit rating.

    Existing customers looking to borrow up to £25,000

    For our Business Loans up to £25,000 it is now easy to apply online by logging in to Business Internet Banking and clicking ‘apply’ on the left hand menu.

    Business Overdraft Pricing

    • 11.02% EAR representative* (varies with Bank of England Bank Rate) for unsecured overdrafts up to £25,000.

    Limit

    Rate

    Fee

    Other Information

    Limit

    £5,000 or less

    Rate

    9.75% per year over the Bank of England Rate

    Fee

    £10 p/m usage fee

    Other Information

    • Free to set up overdraft Facility
    • Only pay if you go overdrawn

    Limit

    £5,001 - £25,000

    Rate

    9.75% per year over the Bank of England Rate

    Fee

    1.75% Annual Fee

    Other Information

    • Only pay interest on funds you use

    Limit

    £25,001 +

    Rate

    Tailored Rates

    Fee

    Annual Fee

    Other Information

    • Pricing discussed on application

    Important information

    EAR stands for equivalent annual rate. It is the rate you would pay if you go overdrawn to the full limit of your facility for the entire year. It takes into account the interest rate you are charged as a result and how often it’s charged – in this case interest is calculated daily and charged monthly. It then takes into account the effect of compounding – charging interest on interest – on your debt. Charges for unarranged overdrafts are charged separately.

    * The representative EAR is an illustration of the rate that the majority of customers will receive. If an overdraft is described as having a particular representative EAR then we expect to offer that rate or better to at least 51% of the applicants we accept. Other customers may get a different rate based on their individual circumstances.

    Our representative EAR applies to all unsecured overdrafts with a borrowing amount of up to £25,000 for businesses with a turnover of up to £3 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only.

    Overdrafts are repayable on demand.

  • Commercial Mortgage

    • When you’re looking for new business premises, talk to us.
    • Apply for a minimum of £25,001 and choose a loan term from three to 25 years.
    • Borrow up to 70% of the property value and in some cases we can lend more.
    • Choose between a Bank of England Bank Rate linked or fixed interest rate.
    • Capital repayment holidays may be available.

    If you wish to borrow on other terms we may still be able to help you.

    Find out more

    Residential Buy-to-let Mortgage

    • If you'd like to grow your capital or rental income by extending your property portfolio, talk to us about our buy-to-let mortgages.
    • Apply for a minimum of £25,001 and choose a loan term from three to 25 years.
    • Borrow up to 70% of the property value and in some cases we can lend more.
    • Choose between a Bank of England Bank Rate linked or fixed interest rate.
    • Capital repayment holidays may be available.

    If you wish to borrow on other terms we may still be able to help you.

    Find out more

  • Enterprise Finance

    • Loans from £25,001 to £600,000 over one to 10 years.
    • Variable or fixed rate interest terms, dependant on circumstances.
    • Flexible draw down arrangements may be available.
    • Benefit from capital repayment holidays, available in certain circumstances.
    • To apply for Enterprise Finance Guarantee, your business's turnover must not exceed £41 million.

    Find out more

  • Asset Finance

    • Interest rate reduced by 1% as part of the Lloyds Bank Funding for Lending Scheme.
    • Funding for all types of assets from farm vehicles to plant and office equipment.
    • Competitive interest rates.
    • Response to funding requests within 24 hours.
    • A fast and efficient phone-based service.

    Find out more

    Invoice Financing

    • Receive up to 90% of the value of unpaid invoices, typically within 24 hours.
    • Pay suppliers without having to wait to receive payment from your customers.
    • Fund growth with less risk by borrowing an amount that can increase as your turnover grows.
    • Use business assets to finance growth.

    Find out more

    Vehicle Contract Hire

    • Competitive monthly rentals.
    • Reduced operational risk: pay a budget-friendly, fixed monthly rate.
    • Can be VAT efficient for most companies.
    • Potential to free up business capital.
    • Optional maintenance to reduce administration costs.
    • Vehicles are 'off balance sheet' and therefore not seen as a fixed asset.

    Find out more

  • The Bank of England Bank Rate is the official Bank Rate set by the Bank of England which can affect interest rates offered by Banks, Building Societies and other financial institutions. By changing the official Bank Rate, the Bank of England seeks to influence overall borrowing in the economy.

    The Bank Rate has been consistently low for a number of years.

    However as the UK economy improves, the Bank of England is likely to increase the official Bank Rate.

    The current Bank of England Bank Rate is 0.75% (effective from 2nd August 2018).

    Changes in the Bank Rate could affect payments on any accounts you may hold with us, such as loans, overdrafts, commercial mortgages or deposits.

    Use our Rate change calculator to work out how a change in Bank Rate could affect your loan repayments.

Compare our loan options:

Base Rate Loan

Fixed Rate Loan¥

Fixed Rate Loan¥

Interest Rate

Base Rate Loan

9.3% APR(variable) representative**

Representative example: 9.3% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £165.68 at an annual interest rate of 8.90% (variable). Total amount payable £9,940.80

Fixed Rate Loan¥

9.3% APR1 representative**

Representative example: 9.3% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £165.68 at an annual interest rate of 8.90% (fixed). Total amount payable £9,940.80

Fixed Rate Loan¥

Can be Fixed for periods from 1 year to the full term of the loan

Loan Term

Base Rate Loan

1 to 25 years

Fixed Rate Loan¥

1 to 10 years

Fixed Rate Loan¥

1 to 25 years

Loan Amount

Base Rate Loan

£1,000+

Fixed Rate Loan¥

£1,000 - £50,000

Fixed Rate Loan¥

£50,001+

Base Rate Loan

Fixed Rate Loan¥

Fixed Rate Loan¥

Can I borrow for my business

See how likely you are to get a Business Loan or Overdraft. View indicative interest rates and repayment details. Try different options without affecting your credit rating.

Existing customers looking to borrow up to £10,000

For our Business Loans up to £10,000 it is now easy to apply online by logging in to Business Internet Banking and clicking ‘apply’ on the left hand menu.

Applicable for existing customers of 6 months or more: instant online decisions available on overdrafts and loans up to £10,000.

** The representative APR is an illustration of the rate that the majority of customers will receive. If a loan is described as having a particular representative APR, then we expect to offer that rate or better to at least 51% of the applicants we accept. Other customers may get a different rate based on their individual circumstances. Our representative APR applies to all unsecured loans with a borrowing amount of up to £25,000 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.

Annual Percentage Rate (APR) is the total cost of the credit expressed as an annual percentage of the total amount of credit. It represents the actual yearly cost of credit over the loan term and includes not only the interest but also any other charges you have to pay, for example, an arrangement fee. The APR will vary depending on the loan amount and term.

Three steps to the right lending decision

Three steps

To the right lending decision

Find out moreabout the finance application checklist.

Loan calculator

Calculate monthly repayments with our easy to use tool.

Launch calculatorCalculate monthly repayments.

Useful links

Making sure you get a fair deal

We want to find a product that’s right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what’s expected of us, the lender, and you, the borrower.

 

ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.

All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.

You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

ǂ 8 out of 10 relates to loans and overdrafts in the period November 2013 to July 2017.

¥ There is always a possibility that interest rates may go down leaving a fixed rate loan at a higher level compared to a variable rate loan. However, if interest rates rise, a fixed rate loan will remain at the same level.