How To Find A Government Business Loan

Regardless of your credit history, we can find the right product for you, even if you have a less than perfect credit score. 150 UK small business grants to apply for right now – UPDATED In need of some funding for your small business? These grants should give you a boost, wherever you’re based in the UK. See your most important business and banking information, all in one place – free with the all-new SmartBusiness Dashboard. All businesses have running costs and if you are running a shop for example, there will be many overheads that you will need to cover all year round.

For Suzan Hernandez, finding support from community organizations has been key to helping her navigate the loan process. Whether you’re looking for finance to grow your business or money to get your business started, there are lots of different providers you can approach. If you do not qualify for a small business loan, we can offer an alternative funding option to meet your needs. Securing business or personal assets against a loan allows you to borrow more and helps keep interest rates lower.

When making a decision about finance, you don’t want to get it wrong, which is why getting a second opinion can be beneficial. In the event your business has been refused a business loan in the past, it’s important to assess your financial situation and ensure that funding is the right option for your business. After being rejected, there are steps you can take to improve your credit score and ensure that any outstanding debts are paid off. Trying to obtain funds from a high street bank can be a frustrating and time-consuming process.

SBA loans are usually a little more forgiving in terms of credit score, requiring a minimum threshold of 650. While these loans are definitely friendlier to smaller businesses, it can still take up to 90 days for an SBA loan to be processed. Apply for an unsecured business loan if you need a quick and straightforward way to finance your business. provides advice and useful guides to UK sole traders and small businesses. Our goal is to help owner managers and entrepreneurs to start, run, grow and succeed in business, helping turn your business idea into a profitable business. Optimise your cashflow with bespoke asset finance – provided by our partner Propel12. Our loans aren’t available for all industries and are subject to normal lending assessment, status and application.

Drive sales and promote your business and products to new and existing customers. Whether you are looking for a commercial or property loan, we will work alongside you to provide a solution to realise your ambitions for your business. TSB adheres to The Standards of Lending Practice for business customers which are monitored and enforced by the Lending Standards Board. Hernandez founded MamaP, which sells personal care products that cut down on plastic like bamboo toothbrushes and laundry detergent sheets, in 2019.

The credit provider gives you money upfront, and then you repay it, including any interest and fees over an agreed timeframe. Small Business Administration loans are very similar to standard term loans offered by private lenders. You can go directly to a bank or alternative lender to apply for a small business loan. Or, you can use the Funding Options platform to compare over 120 lenders and find the right one for you.

Long-term loans generally take longer to get approved, but suit companies that need a longer amount of time to pay the money back. You can pay your loan back at a rate that suits you, depending on the loan you take. For example, a Capify MCA’s repayment is taken as a part of your debit/credit card transactions – so if you have a good month, you’ll pay more proportionally. If you feel you want to make extra repayments as a part of a regular business loan, you can do that.