How business loans work
“The options for business owners in accessing funding have improved significantly in the last 2 years”.
The growth of peer to peer funding and crowdfunding platforms offering finance means that high street banks no longer have control over this market for loans up to £500,000.
How much you can borrow, how long for and how much you are likely to pay in interest will depend on the reasons for the loan, the current and past performance of your business and various other factors.
To find out the best type of business borrowing for your specific needs and circumstances, it is well worth talking to a professional loan advisor.
We can help you access the money you need at the most affordable price quickly and with the less possible hassle.
Understanding business loans
There are various types of business finance which may be appropriate for your borrowing needs.
- Short and long term finance
Whether you need short term finance to help with cash flow, or finance over a longer term to fund expansion, business loans can be acquired over a range of different terms to suit a variety of business needs. For bridging loans use our bridging loan calculator
- Unsecured business loans
If you need to borrow a relatively small amount, you may be able to take the loan on an unsecured basis. This can allow you to access the money you need relatively quickly with a fairly simply application process.
Santander Business Loans
Types of business loans offered by Santander
Features of a Santander Business Loan
- Borrow from £1,000 to £25,000 over 1- 5 years, depending on your needs. (more with a commercial banking loan )
- Manage your monthly costs with a fixed rate.
- Opportunity for early repayment fees.
- One off £100 arrangement fee
Criteria for a Santander Business Loan
In order to be eligible for a Santander business loan you’ll need to:
- Have a Santander Business Account.
- All directors, shareholders or partners are aged 18 or over.
- All directors, shareholders or partners are UK residents.
- Your business is registered in the UK.
- You have a good credit history.