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Secure up to £250,000 in just 4 hours with rates starting from as little as 5.5%.

Quick quotes, fast approval, and speedy payment make the process hassle-free.

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Your small business loan is paid in a few hours.

See Your Finance Options

See the business loan offers you are eligible to receive.

This will not impact your credit score.

 

What Is a Small Business Loan? 

Small business loans are designed for commercial use and can give UK businesses access to the funds they need for growth. Lenders typically require that the loan is only used for business activities, not personal needs.

 

Funding We Offer to Small Businesses

Our UK small business loans can be used for a variety of purposes, such as:

  • Start-up costs.
  • Working capital.
  • Expansion
  • Equipment purchases, and more.

 

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Over £100 Million in Small Business Loans

Our Small Business Loan Process

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Compare Small Business Loans

UK small business loan options

Small business loans for new staff:

£5,000-£50,000

Staff are crucial to the smooth running of your company. employment, recruitment costs, and wage expenses can be unexpectedly high, so a small business loan to cover overheads can be vital.

Interest Rates from 6.9%

Small business loans for equipment:

£5,000-£500,000

A small business loan for equipment will likely help turn a profit, as you can carry out tasks to a better standard. funding purchases such as this will relieve you of the stress of making large buys

Interest Rates from 5.5%

Small business loans for VAT bills:

£5,000-£100,000

Fund your VAT and close the gap between working capital and what you owe HMRC. these bills occur quarterly. you can take a small business loan out & repay over 3-12 months.

Interest Rates from 9%

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Our Small Business Loans

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Automated  Loans

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Payments That Suit You

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Why Pick Love Finance for Small Business Loans

At Love Finance, we understand the unique needs and challenges faced by small business owners based in the UK.

Whether you are looking to grow your business or manage regular expenses, we offer instant small business loans that are tailored to meet your particular needs.

As a company committed to supporting UK small businesses at all stages of their development, we know that cash flow management is a top priority for any small business owner.

That's why our quick approval process and flexible unsecured business loan terms make us an ideal choice for small business owners in need of extra funds. 



Declined for a Small Business Loan Before?

There's no need to feel discouraged if you've been unsuccessful in applying for a small business loan.

At Love Finance we have options for UK small businesses that have not been approved previously.

As we only perform soft searches early on, your credit score won't be impacted by applying for us so there is no risk in seeing how we could help. 

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A Good Candidate for Small Business Loans:

Typical eligibility criteria

Trading 12+ months

UK based business

Turns over £25,000+ yearly 

Has clean credit or no CCJs


The above criteria are not an absolute necessity, we will always do our best to source you the small business funding you need. But, by meeting these requirements, you are more likely to be approved for a small business loan. 

 

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Talk to an Expert about Small Business Loans

We're automated but it's always nice to know there's a real person behind the scenes to support you, so if you have any questions regarding small business loans, or you're looking to enquire please don't hesitate to contact us.

Call 0800 086 9404 or Email Us
Office Hours are Monday to Fri 9:00 am - 5:30 pm

Lean more about small business loans

UNDERSTANDING SMALL BUSINESS LOAN RATES

See how business rates are influenced and why this causes them to differ.

USE OUR SMALL BUSINESS LOAN CALCULATOR

Use our calculator to see what smal business loan repayments may look like.

How Unsecured Small Business Loans Work

Discover how our unsecured small business loans work vs secured loans.

Apply for a Start-up Business Loan

We have partnered with Transmit who are experts in start-up loans.

Learn about Invoice Loans

Find out how invoice finance can support your businesses cashflow.

Guide to Small Business Loans

Your go-to for everything related to small business loans.

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Small BUSINESS Loans faq

 

How to choose the right small business loan

When you're running a small business, financing is an important factor to consider. Before taking out a loan, carefully consider how much money you need and what repayment terms are best for your situation.

We have several financing solutions available, so take the time to find the one that offers the best terms for your specific needs.

Our account managers can provide you with the support you need to find the perfect small business loan, with the right loan term, monthly repayments and loan agreement.


How much do you need?

First, think about how much money you actually need. To avoid burdening your business in the future, it's best to only borrow what you absolutely need.


What repayment terms?

Second, consider the terms of the small business loan. Make sure to understand the terms of the small business finance before signing anything. This will ensure there are no surprises down the road.


What type of loan fits best?

Finally, don't be afraid to explore different options. With support from our account managers, you can find the perfect small business loan with the right loan term, monthly repayments, and loan agreement for your needs.

 
 

What is the max you can receive for a small business loan?

Our maximum lending amount for a traditional small business loan is £250,000. However, depending on the need of the business, this figure can change - for example, if you have clean credit and good business accounts we can finance an asset of any cost.

The average small business loan amount is £20,000, with the most common purpose for finance being to strengthen cash flow. 

 
 

How to get a small business loan

Small business loans are a great way to get the financing you need to grow your business. However, it can be difficult to qualify for a small business loan if you don't have perfect credit. Here are a few tips to help you get a small business loan:

1. Check your personal credit score. Lenders will often look at your personal credit score when considering you for a small business loan. If your credit score is low, work on improving it before applying for a loan.

2. Show collateral. When you apply for a small business loan, be prepared to show collateral such as real estate or equipment that can be used to secure the loan.

3. Have a strong business plan. Lenders will want to see that you have a well-thought-out plan for how you will use the money from the loan to grow your business. Be sure to include realistic financial projections, business plans, etc.

Following these tips will improve your chances of getting approved for a small business loan and help you grow your business.
 
 

How much is a small business loan

When it comes to small business loans, the amount you can borrow will depend on a number of factors, including the size and profitability of your business, your personal credit history, and the type of loan you apply for. However, as a general rule of thumb, most small business loans range from £5,000 to £500,000.

If you're looking for a small business loan to help get your business off the ground, you'll likely be able to find one that meets your needs.

 

HOW CAN I CALCULATE MY MONTHLY REPAYMENT TERMS?

If you're thinking of starting a small business, one of the first questions you'll need to answer is how you're going to finance it. One option is to take out a small business loan.

How do you know how much you can afford to borrow, and what your monthly payments will be? The good news is that there are some easy formulas you can use to calculate your monthly small business loan payments. How much is a small business loan

Use our small business loan calculator 

First, you'll need to determine the amount of money you want to borrow. Then, you'll need to find out the interest rate on the loan and the term of the loan (the length of time you have to repay it).

With this information in hand, you can use our business loan calculator to figure out your monthly payment. Of course, these are just estimates - your actual payments may be higher or lower depending on the terms of your loan. But doing the math ahead of time will give you a good idea of what you can expect, and help you plan your budget accordingly.

 
 

How to apply for a small business loan

If you're a small business owner, you may be considering taking out a small business loan to finance your business. To start the process, all you need to do is request a quote.

Once you have completed your inquiry, you'll be given an indicative quote based on your details. If you choose to accept the offer, you can upload documents using our app without impacting your credit. Funds will be made available imminently once you have officially applied. 


First: Research the different types of small business loans available. There are secured and unsecured loans, and each has its own set of terms and conditions. Make sure you understand the difference between the two before you apply.


Second: Gather all the documentation you will need to apply for a small business loan. This includes financial statements, tax returns, and a business plan. Having this information ready will make the application process go more smoothly.


Third: Shop around to find the best small business loan for your needs. Compare interest rates, repayment terms, and other factors to find the loan that is right for you.

Applying for a small business loan can be a great way to get the funding you need to start or grow your business. By doing your research and being prepared with all the necessary documentation, you can increase your chances of getting approved for the loan you need

 Before taking out a small business loan, it's important to research and understand the repayment terms. This will help ensure that you have enough cash flow to cover the loan payments and make timely repayments. If you miss a payment, it can damage your credit rating and make it harder to get loans in the future. Generally, loan repayments are made in monthly instalments, depending on the size of the loan and the interest rate.
 
 
 

What are the repayment terms on small business loans?

Before taking out a small business loan, it's important to understand how loan repayments work. Generally, small business loan repayments are made in monthly instalments, based on the size of the loan and the interest rate.

Make sure you have enough cash flow to cover the loan payments and that you can afford the loan before taking it out.

Failing to make timely loan repayments can damage your credit rating, so it's essential to stay on track. Doing your research and understanding the repayment terms can help you avoid any negative consequences.

 
 

What Types of Small Business Loans Are Available?

Common types of small business loans include term loans, lines of credit, merchant cash advances, asset leasing/finance and VAT finance.

Love Finance can offer short term loans from 3 months, to a longer term up to 6 hours.

 
 

What are the disadvantages of small business loans?

While small business loans can be a valuable resource for entrepreneurs and small business owners, there are also a number of potential disadvantages that should be considered.
 
One such disadvantage is the cost associated with these types of loans. Small business loans typically have higher interest rates than forms of financing such as asset finance, meaning that small business owners must be prepared to pay more in order to take out one of these loans.


Small business loans can offer many benefits, but they may not be right for every small business owner. Consider the pros and cons before deciding if it's the right choice. Repayment schedules can be strict, and there may be additional fees and charges to factor in. However, you may receive a lower interest rate than with a personal loan. Weigh the advantages and disadvantages before making a decision.

 
 

When should I apply for small business funding?

There is no one-size-fits-all answer to the question of when to apply for small business funding. The best time to apply will vary depending on your individual business needs. However, there are a few general guidelines you can follow.
 


Know the type of funding you need:

When selecting the best small business loan for your needs, it's important to do your research. Compare rates and terms from a variety of lenders, read reviews, and check the Better Business Bureau rating. The most common types of small business loans are term loans, lines of credit, and SBA loans, each with their own set of benefits and drawbacks.

Once you've found the type of loan that best suits your needs, you'll be one step closer to achieving your business goals.

 


Determine the rate you can repay:

Last but not least, don't forget to factor in the cost of small business funding when you're creating your budget. Applying for and securing a loan can be expensive, so make sure you factor in all the associated costs before you commit.


Create a business plan first:

For small business funding, there is no one-size-fits-all approach to timing your application. However, it is best to apply when you have a well-defined plan for how you will use the money. This could be after completing market research or launching a new product or service. Additionally, you should consider the timing of other businesses in your industry and aim to apply at a different time so you stand out.

Ultimately, the best time to apply for funding depends on your individual business needs and goals.

 
 

What is the easiest small business loan to get?

The easiest small business loan to get is one that best matches your business's needs. To find the right business loan, you'll need to consider your business's credit score, revenue, and time trading.
 
If you've been in business for less than two years or don't have a strong business credit score, you may have a more difficult time qualifying for a traditional business loan from a bank. In this case, you may want to consider an alternative lender, such as a business credit card or personal loan. These loans tend to have higher interest rates and shorter repayment terms than traditional business loans, but they can be easier to qualify for.
 
 

How much deposit do you need for a small business loan?

When it comes to small business finance, one of the most common questions we get asked is how much deposit you need for a small business loan. The answer can vary depending on the lender and the type of loan you're looking for, but with Love Finance, you won't need to pay any deposit for a traditional loan. 

If you've been in business for less than two years or don't have a strong business credit score, you may have a more difficult time qualifying for a traditional business loan from a bank. In this case, you may want to consider an alternative lender, such as a business credit card or personal loan. 
 
These loans tend to have higher interest rates and shorter repayment terms than traditional business loans, but they can be easier to qualify for.
 
 

WHAT IS an ANNUAL PERCENTAGE business loan vs A FLAT loan RATE? 

When considering a loan, it's important to compare the Annual Percentage Rate (APR) and the flat rate to make sure you're getting the best deal. The APR will give you an idea of the total cost of the loan, while the flat rate will give you an indication of your monthly payments.
 
Flat-rate loans may have a higher interest rate than variable-rate loans, but they offer peace of mind in knowing that your payments will never change. By comparing both rates, you can find the right loan for your needs.
 
 

DO LOVE FINANCE WORK WITH AN APR OR A FLAT RATE?

Love Finance works off of flat rates only, meaning that your interest rate will stay the same throughout the entire repayment period. This makes budgeting easier, as you know exactly how much you owe each month.
 
The fixed rate also means that you won't have to worry about sudden jumps in your interest rate, which can make it difficult to keep up with your payments. With a flat rate, you can plan ahead and make sure that you're able to make all of your payments on time.
 
 

What if I've been unsuccessful in applying for small business funding?

One option is to look into government funding programs. These programs typically have less stringent requirements than traditional loans, and they can often be used for a wider range of purposes. Another possibility is to seek out private investors. This can be a great option if you have a solid business plan and are confident in your ability to repay the small business loan.
 
 

Do I need to provide a personal guarantee FOR A BUSINESS LOAN?

If you're considering applying for a small business loan, you need to know if a personal guarantee (PG) is required. A PG is an agreement that says you'll be personally responsible for repaying the loan if the business can't. Not all loan providers require a PG for loans for small businesses, but many do.

For larger loans, a PG is usually necessary. However, you can negotiate with the lender for alternatives, such as collateral or other terms that reduce the risk to your personal finances.

 

What Are the Benefits of a Small Business Loan?

A small business loan can help you manage cash flow, grow your business, purchase inventory, cover payroll, and invest in marketing.

Additionally, it can help you access funds quickly, and you can use the funds for any purpose. Interest rates and repayment terms vary depending on the type of loan and lender, so it’s important to compare loan options to find the best one for your business.

 

Need help applying for a small business loan?

If you have any questions regarding business loan costs, how to best apply, or business funding in general, please don't hesitate to contact us before you apply.

Call 0800 086 9404 or Email Us
Office Hours are Monday to Fri 9:00 am - 5:30 pm

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0800 086 9404
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Love Finance Limited is Authorised and Regulated by the Financial Conduct Authority for certain types of credit related activities that are regulated under the Consumer Credit Act 1974 and by the Financial Services and Markets Act 2000. Registered in England Co Reg No. 08103018 Registered Office: 1 Calico Business Park, Tamworth, Staffordshire B77 4BF

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