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Small Business Loan For You
Compare Business LoansSupacompare is credit broker, not a lender. You must be over 18 and have a UK based business, operating as a limited company or partnership. Applying won't impact your credit score.
Supacompare is credit broker, not a lender. You must be over 18 and have a UK based business, operating as a limited company or partnership. Applying won't impact your credit score.
Borrow £1,000 - £500,000 with flexible repayments
Borrow £1,000 - £500,000 with flexible repayments
Small business loans, tailored to your business
Whether you are looking to invest in growth, buy new stock or wanting to keep your cash flow smooth, with Supacompare you can see if you're eligible for a small business loan from £1,000 to £500,000
Representative Example: If you borrowed £10,000 for 12 months at a 49% Representative APR, with an interest rate of 40% p.a (variable), the total amount you would repay is £12,294.00.
Quick and easy application process
It takes just a few minutes to see if you're eligible for a small business loan - we'll just need the basics about your business
Approval in 24 hours
If you're approved for a small business loan, you will be able transfer as much as you need to your bank. The money should be in your account within hours
Borrow from 1 day to 2 years
Your repayment plan will depend on your individual circumstances, but if you can pay your business loan earlier, you won't be charged any fees.
If you need more funds, you may be able to apply for a top up
No hidden fees
There are no hidden fees, or long-term commitments. You will only be charged interest for the days that you are using your business loan
Am I eligible for a small business loan?
From new startups to established companies of any age, and from any industry, as long as you have a UK-based business and operate as a limited company or a partnership you can check your eligibility for a small business loan.
To check your eligibility, you must be:
Based in the UK
A limited company
And have the following information available:
Basic details about the business
Last 6 months bank statements (or you can link your account via Open Banking)
Any additional documents required will depend on the size of loan you are looking for and your company type.
Examples of what you can do with your small business loan
Examples of what you can do with your small business loan
Advantages of a small business loan
Access to capital: a small business loan can provide you with access to essential capital to cover various expenses from purchasing stock, expansion or investing in technology
Cash flow management: a small business loan can help you maintain a healthy cash flow, ensuring that you have the liquidity to cover operating costs, especially during slower times or whilst you are waiting for outstanding invoices to paid
Flexible terms: many lenders offer a variety of loan types and terms to suit different business needs. Meaning that you can choose the small business loan that best suit your financial situation and repayment capabilities
Build credit: responsible borrowing and timely repayments of a small business loan can help establish and improve your business's credit profile. This may make it easier to access finance in the future and potentially secure better loan terms
Ownership retention: unlike equity finance, where business owners give up a portion of their company, a small business loan allows entrepreneurs to retain full ownership and control of their business
Emergency funds: a small business loan can act as a safety net, helping businesses through an unexpected crisis, such as economic downturns or equipment breakdowns
Disadvantages of a small business loan
Business performance: If you take out a small business loan from a mainstream provider or a bank, you may be subject to ongoing financial checks and be required to give regular updates about the performance of your business
Debt burden: by taking out a small business loan, you are assuming debt obligations. Regular loan payments can strain a business's cash flow
Risk of default: If you are unable to make loan payments according to the agreed terms, the business may face serious consequences, such as damage to its credit rating, legal action, or the loss of collateral (if the loan is secured)
Got questions about small business loans? Supacompare has you covered!
To check your eligibility for small business loan, you must be a UK-based business and operate as a limited company or partnership. Startup businesses are limited to a maximum credit limit of £10,000.
To check your suitability for a small business loan, the provider will conduct a soft credit check, this means that your credit score will not be impacted. However, it is important to note that if you choose to take out a small business loan, this will be visible on your credit report.
We can help you find a small business loan with a maximum term of up to 24 months. You will only be charged interest for each day you have funding, so you can reduce the total amount of interest you will pay by making early repayments
No. It's free to get a quote and it is your choice on whether you want to go ahead after you have received and reviewed your offer.
It's unlikely that you will be able to take out a small business loan to buy a company if you do not already own a business. However, some lenders may consider lender to you if you are a business owner looking to buy another business if you are able to demonstrate that buying the business will not negatively impact your ability to repay the funds.
A larger number of small business loans are unsecured as small businesses may not have the assets to secure the loan against non-payment. However, there are some secured business loan providers, so it is important that you compare the different options available to ensure you get right loan for you business.
It is entirely your choice on if you want to take out small business loan insurance. It's not a legal requirement to have business loan insurance. However, if any loans are outstanding and the business owner dies or falls seriously ill, it can have a very serious impact on the business. Therefore some owners consider taking it out to help give them peace of mind.
This will depend upon the repayment schedule agreed to when requesting the funds with minimum payments being made made weekly or monthly.