Most businesses aspire to grow and expand, whether that is increasing the number of locations, larger offices and additional staff, or expanding abroad, many businesses will require an injection of cash to help them through their growth period.
There are many loans in the market which are designed to help in these circumstances but with so many to choose from which is best for you? Below we have looked at what some of the leading providers can offer to help you.
The table below gives a quick comparison of the top UK providers for business expansion loans.
| Company | Minimum amount | Maximum amount |
|---|---|---|
| HSBC | £1,000 | Not stated |
| Barclays | £1,000 | £100,000 |
| NatWest | £1,000 | Not capped |
| Lloyds | £1,000 | Not capped |
| Santander | £500,000 | £5 million |
| Bank of Ireland | EUR 1,000 | EUR 120,000 |
| Bank of Scotland | £50,001 | Not stated |
| Yorkshire Bank | £25,000 | Negotiable |
| Clydesdale Bank | £1,000 | £10 million |
| Funding Circle | £10,000 | £500,000 |
| Fair Finance | £10,000 | £30,000 |
| Bibby Financial Services | Not stated | Not stated |
| ClearFunder | £10,000 | £100,000 |
| Cubefunder | £5,000 | £100,000 |
| Fleximize | £5,000 | £500,000 |
| IGF | Not stated | Not stated |
| Nucleus Commercial Finance | £25,000 | £150,000 |
| rebuildingsociety com | £25,000 | Not stated |
| Spotcap | Not stated | £250,000 |
| Ultimate Finance | £7,500 | £5 million |
| ThinCats | £250,000 | £15 million |
| LendingCrowd | £5,000 | £50,000 |
| Huddle Capital | Not stated | Not stated |
| 365 Business Finance | £5,000 | £200,000 |
| Liberis | £2,500 | £300,000 |
* The facts and figures included here come from each company’s website and were accurate at the time of writing but may have since changed. Also, please keep in mind these may not be apples to apples comparisons as each provider offers different solutions. This guide should be used as a starting off point for more research on your part.
Below we profile each of the companies’ services and features in a bit more detail.
Note companies are ranked in no particular order and this no way indicates one solution is better than another.
Topics
1. HSBC
Some of the features and benefits of HSBC’s business expansion loans.
- Choice of loan products
- Small Business Loan
- Flexible Business Loan
- Loans from £1,000
- Terms from 1 to 20 years
- Fixed and variable rate loans
- Option to make additional payments
- Repayment holidays can apply
- Interest-only period can be available
- Option to defer two payment per year on some loans
HSBC is an international financial provider offering a variety of business finance products including a range of loans. They offer two loans suitable for business expansions which are the Small Business Loan and Flexible Business Loan.
HSBC’s Small Business Loan offers loans from £1,000 to £25,000 over terms from 1 to 2 years on fixed monthly repayments. This loan is flexible and allows you to make additional payments and take repayment holidays. The Flexible Business Loan offers funding from £25,000 on a fixed or variable interest rate over terms from 1 to 20 years. It offers an interest-only period and option to defer two payments per year.
2. Barclays
Some of the features and benefits of Barclays’ business expansion loans.
- Flexible loan
- Designed to help businesses expand or setup
- Borrow from £1,000 to £100,000
- Terms from 1 to 20 years
- Option of fixed or variable rates
- Unsecured loans
- Offers interest-only repayment options
- Repayment holidays up to 6 months available
- Funding can be received within 24 hours once approved
- Available to existing and new customers
Barclays is a financial banking provider offering a wide range of business finance products which includes loans, overdrafts, mortgages, property finance, asset and invoice finance. They offer loans that are designed to help businesses to expand or get set up.
Barclays’ business loans are available to new and existing customers for amounts from £1,000 to £100,000 over terms from 1 to 20 years on an unsecured basis. They split their loans into those above or below £25,000, those below £25,000 offer fixed rate and the option to take a repayment holiday. Loans over £25,000 have the option of fixed or variable rates and the option for interest-only periods.
3. NatWest
Some of the features and benefits of NatWest’s business expansion loans.
- Choice of business loans
- Available for business expansions
- Borrow from £1,000
- Terms from 3 months to 25 years
- Option of a variable or fixed rates
- Security might be required
- No early repayment charges
- Repayment holidays options
- Offer loans to a variety of businesses
- Available to new and existing customers
NatWest is a financial banking institution providing a variety of business finance products including business bank accounts. Their loan range offers three types of loans which are suitable for business expansions.
NatWest’s Small Business Loan offers fixed interest rates loans from £1,000 to £50,000 over terms from 1 to 10 years with no arrangement fees or early repayment charges. The Variable Rate Loan offers loans from £35,001 over terms from 3 months to 25 years with no early repayment fees and option of repayment holidays. The Fixed Rate Loan offers from £35,001 to £10 million over terms of 3 to 10 years with no arrangement fees or early repayment charges and repayment holidays.
4. Lloyds
Some of the features and benefits of Lloyds’ business expansion loans.
- Offers a range of business loans
- Suitable for business expansions
- Borrow from £1,000 to £500,000
- Terms from 1 to 25 years
- Provide secured or unsecured loans
- Offers fixed and variable rates
- Arrangement fees don’t apply on loans under £25,000
- Capital repayment holidays may be available
- No early repayment costs
- Available to new and existing customers
Lloyds is a financial banking establishment who offers a variety of business finance products. They offer three business loan products that are suitable for business expansions.
Lloyds’ Base Rate Loan is a variable rate loan which is offered as a secured or unsecured loan for amounts from £1,000 over terms from 1 to 10 years. The Fixed Rate Loan offers a flexible loan from £1,000 to £50,000 over terms from 1 to 10 years and has no arrangement fees below £25,000 and no early repayment fees. The Commercial Fixed Rate Loan offers £50,001 to £500,000 on terms from 1 to 25 years and option to take a repayment holiday.
5. Santander
Some of the features and benefits of Santander’s business expansion loans.
- Growth capital loan
- Flexible finance solution
- Designed to help businesses to grow
- Loans from £500,000 to £5 million
- Terms from 2 to 5 years
- Arrangement fees apply
- Retain the equity in your business
- Security is required
- Must have a compelling growth story
- Suited to businesses with turnover below £50 million and three years’ trading history
Santander is an international financial business who offers a range of business finance products including loans, credit cards, overdrafts and asset finance. Their loan range includes specialists loan products such as growth capital loans which are designed to help businesses to grow and expand without losing their equity.
Santander’s growth capital loans are a flexible finance solution which offers loans from £500,000 to £5 million over terms from 2 to 5 years. Growth capital loans require security and arrangement fees apply. To be eligible your business needs to have a compelling growth story backed by an annual turnover below £50 million and three years’ experience.
6. Bank of Ireland
Some of the features and benefits of Bank of Ireland’s business expansion loans.
- Flexible business loan
- Borrow from €1,000 to €120,000
- Terms from 1 to 7 years
- Offers secured and unsecured loans
- Lower rates are offered to those providing security
- No arrangement charges
- Loans can be arranged online or over the phone
- Decisions are reached quickly
- Provided tailored loans for farms
- Suitable for small to medium-sized businesses
Bank of Ireland is a financial establishment that operates in Ireland and offers business finance products including loans and overdrafts. They offer loans to both established businesses and new start-ups that are small to medium-sized businesses and they also specialise in loans designed for farmers.
Bank of Ireland’s business loans are designed to be a flexible loan that offers €1,000 to €120,000 over terms from 1 to 7 years. They offer secured and unsecured loans but loans that are backed by security will receive lower rates. You can set up a loan easily and simply either online or over the phone and a decision will be reached quickly.
7. Bank of Scotland
Some of the features and benefits of Bank of Scotland’s business expansion loans.
- Commercial Fixed Rate Loan
- Suitable for business expansions
- Loans from £50,001
- Terms from 1 to 25 years
- Option of secured or unsecured
- Fixed monthly repayments
- Arrangement fees apply
- Early repayments can occur a predefined break cost
- Capital repayment holidays available
- Available to a wide range of businesses
Bank of Scotland forms one part of the Lloyds Banking Group and they offer a wide range of business finance products which include loans, credit cards, overdrafts, mortgages and asset finance. Their Commercial Fixed Rate Loan offers larger loans which are suitable for business expansions.
Bank of Scotland’s Commercial Fixed Rate Loan offers loans from £50,001 over terms from 1 to 25 years with a fixed monthly repayment plan. The loan is available as either a secured or unsecured loan. They also offer capital repayment holidays to eligible businesses in some circumstances. Arrangement fees apply and early repayment may incur a break cost.
8. Yorkshire Bank
Some of the features and benefits of Yorkshire Bank’s business expansion loans.
- Business Investment Loans
- Borrow from £25,000
- Maximum loan amount is negotiable
- Flexible repayment options
- Simple interest rates and fee structures
- Terms from 1 to 15 years
- Variable-rate
- Secured loans
- Interest-only option available
- Dedicated relationship manager
Yorkshire Bank is a UK based financial institution that offers a variety of business finance products that include loans, credit cards, overdrafts, mortgages, asset and invoice finance. Their range of loans includes Business Investment Loans to help businesses to grow and expand.
Yorkshire Bank’s Business Investment Loans are available for loans from £25,000 with the maximum loan amount negotiable based on your circumstances and their terms are from 1 to 15 years. Their loans are flexible with the option of interest-only repayments and they have simple interest rates and fee structures. The loans are variable rate loans which required security.
9. Clydesdale Bank
Some of the features and benefits of Clydesdale Bank’s business expansion loans.
- A range of business loans
- Borrow from £1,000 to £10 million
- Terms up to 15 years
- Choice of fixed or variable loans
- Option to overpay on some loans
- Overpayments could be withdrawn
- Interest-only option may be available
- No early repayment fees on some loans
- Capital repayment holidays may be offered
- Gives you a dedicated relationship manager
Clydesdale Bank is a financial institution that provides a range of business finance products which includes loans, credit cards, overdrafts, asset and invoice finance. They offer a range of business loans that can be used for financing expansion.
Clydesdale Bank’s Flexible Business Loan is designed to allow you to overpay and withdraw the overpayments if needed and also offer capital repayment holiday. Their Business Loans offers loans from £25,001 to £10 million on a fixed or variable rate. The Term Loans offer from £1,000 on terms that are linked to the asset being purchased and its life expectancy. This loan also offers interest-only repayments.
10. Funding Circle
Some of the features and benefits of Funding Circle’s business expansion loans.
- Flexible loan solutions
- Suitable for a variety of reasons including business expansion
- Loans from £10,000 to £500,000
- Terms from 6 months to 5 years
- Unsecured loan
- No early repayment fees
- Has a simple online application form
- Decisions can be received in as little as 5 hours
- Suitable for businesses of all sizes
- Offers a dedicated account manager
Funding Circle is a financial provider that specialises in bringing together investors to create funding opportunities for borrowers by offering their investors good returns on their money. They also utilise funding from the British Business Bank which is government-owned and designed to lend money to small businesses in the UK.
Funding Circle’s loans are available to businesses wanting to expand and they offer loans from £10,000 to £500,000 over periods from 6 months to 5 years with rates starting as low as 1.9%. They offer a quick and simple loan application process that can give you a decision in as little as 5 hours.
11. Liberis
Some of the features and benefits of Liberis’ business expansion loans.
- Business cash advance loan
- Borrow from £2,500 to £300,000
- One single loan cost
- Unsecured
- No hidden charges
- No late fees
- Flexible repayment terms that mirror your income
- To be eligible you need to have been trading for over 4 months and have a monthly card income over £2,500
- Claim to offer high approval rates
- Suitable for small to medium-sized businesses
Liberis is a financial provider who specialises in business cash advance loans which allow businesses to borrow against their future income. They have created their loans for small to medium-sized businesses that have been trading for over four months and have a minimum monthly card income over £2,500.
Liberis’ business cash advance loans offer from £2, 500 to £300,000 on an unsecured basis. Their loans have no fixed repayment terms as the loan is repaid through taking a small percentage of monthly card takings. They don’t have any hidden charges and no late fees just one single loan cost.
12. Fair Finance
Some of the features and benefits of Fair Finance’s business expansion loans.
- Small business loans
- Borrow from £10,000 to £30,000
- Terms from 6 to 36 months
- Fast and simple loans
- Transparent loans
- No early repayment charges
- Will consider those with adverse credit
- Decisions made by humans not just by algorithms
- Available to a variety of businesses
- They are a social business that re-invests its profits
Fair Finance is a financial provider who describes themselves as a social business as they re-invest their profits into their business for the benefit of its customers. Their range of financial products includes finance solutions that can help businesses to expand their business.
Fair Finance’s business loans offer loans from £10,000 to £30,000 to a wide variety of businesses in most circumstances including those with adverse credit. Their loans are offered on terms from 6 to 36 months with no early repayment charges and transparent terms. They have a simple loan process and their loan decisions are made by humans, not by algorithms alone.
13. Bibby Financial Services
Some of the features and benefits of Bibby Financial Services’ business expansion loans.
- Provides a range of funding options under asset-based lending
- Suitable for business expansion
- Asset finance
- Invoice finance
- Trade finance
- Stock finance
- Cashflow loans
- Commercial mortgages
- Secured loans
- Amounts depend on the asset and your circumstances
Bibby Financial Services is an independent finance provider that offers a range of business finance solutions. Their asset-based lending product range provides funding solutions that are suitable for businesses looking for business expansion funding.
Bibby Financial Services’ products include asset finance, invoice finance, trade finance, stock finance, cash flow loans and commercial loans which allows businesses to free up some of their cash flow tied up in assets or to borrow against these assets using them as security. The terms of these loans vary but some offer short-term loans of 12 to 24 months and others are longer-term.
Bibby Financial Services website
14. ClearFunder
Some of the features and benefits of ClearFunder’s business expansion loans.
- A range of loan solutions
- Loans from £10,000 to £100,000
- Terms from 6 to 12 months
- Flexible loans
- Competitive loan rates
- Fast and simple application process
- Instant online quotes available
- Will consider all circumstances
- Designed for small to medium-sized businesses
- Suitable for a variety of businesses
ClearFunder is a financial provider that offers businesses an alternative loan solution to using traditional banks. Their loans are fair and transparent, and they will consider all circumstances including businesses with bad credit. They have designed their loans for small to medium-sized businesses in a variety of sectors and they are suitable for businesses that are wanting the funding to expand.
ClearFunder’s business loans offer funding from £10,000 to £100,000 on terms from 6 to 12 months. They offer flexible terms, competitive rates and affordable repayment plans. Their loans are simple to apply for and you can get an instant quote.
15. Cubefunder
Some of the features and benefits of Cubefunder’s business expansion loans.
- Flexible business loans
- Suitable for businesses wanting to expand
- Borrow from £5,000 to £100,000
- No APR
- Tailored repayment plans
- Fast and simple application
- No early repayment charges
- No default late payment charges
- Designed for small businesses
- Available to businesses in a variety of sectors
Cubefunder is a financial provider that offers business finance products and they specialise in finance for smaller businesses. Their loans are flexible and can be tailored to your business’ needs. Their loans are suitable for a wide variety of business types that want to finance their growth and expand their business.
Cubefunder’s business loans offer £5,000 to £100,000 with no early repayment fees or default late payment charges. Their loans are different from most loans as they have a single fixed fee that has no APR. Their loan application is straightforward and simple, and they offer dedicated support to help you through the application.
16. Fleximize
Some of the features and benefits of Fleximize’s business expansion loans.
- Transparent loans
- Borrow from £5,000 to £500,000
- Terms from 1 month to 4 years
- Option of secured and unsecured loans
- No hidden fees
- Early repayment can reduce your fees
- Flexible loan
- Fast loan turnaround
- Offers exclusive membership benefits
- Provides a dedicated relationship manager
Fleximize is a financial provider that specialises in financial products for small to medium-sized businesses. Their loans are designed to meet a variety of purposes including business expansion. Their loans differ from traditional loans as they are designed to reward early repayment as it can reduce the interest charged. They also allow you to increase your borrowing and take repayment holidays.
Fleximize’s business loans offer funding from £5,000 to £500,000 over periods from 1 month to 4 years. Their loan process is simple and quick to set up and you will be supported by a dedicated relationship manager who can tailor the loan to meet your business’ needs.
17. IGF
Some of the features and benefits of IGF’s business expansion loans.
- Offers working capital loans
- Designed to help businesses to grow
- Flexible loans solutions
- Provide fast decisions
- Asset-based lending
- Invoice finance
- Tailored solutions
- Created for small to medium-sized businesses
- Suitable for a wide range of business
- Dedicated support team
IGF is a financial provider that specialises in invoice finance and asset-based lending solutions that are designed to help small to medium-sized businesses to develop and grow their businesses. They offer two levels of loans that are split between businesses with under and over £5 million annual turnover.
IGF’s loan solutions offer flexible loan products that are suitable for a wide range of businesses. They offer asset-based lending and invoice finance that are ideally designed for businesses wanting expansion funding. Invoice finance includes both discounting and factoring as options to release funding from unpaid invoices. Asset-based lending allows you to release funds tied up in assets.
18. Nucleus Commercial Finance
Some of the features and benefits of Nucleus Commercial Finance’s business expansion loans.
- Cash Flow Finance loan
- Suitable for business expansions
- Borrow from £25,000 to £150,000
- Terms from 3 months to 3 years
- Unsecured loan
- Simple loan process
- Quick online application
- Receive funding in 24 hours
- Available to businesses with 3 years plus trading history
- Offers a range of complementary finance products
Nucleus Commercial Finance is a financial provider who offers a wide variety of business finance products such as loans, cash advance, property finance, asset finance and asset-based lending. Their Cash Flow Finance loan is suitable for business expansion financing.
Nucleus Commercial Finance’s Cash Flow Finance offers unsecured loans from £25,000 to £150,000 over periods between 3 months to 3 years. They offer simple loans that can be easily set up and funding can be received in 24 hours of the loan being agreed. They also offer a variety of complementary products that can help finance your business.
Nucleus Commercial Finance website
19. rebuildingsociety.com
Some of the features and benefits of rebuildingsociety.com’s business expansion loans.
- Peer-to-peer business loans
- Available for business growth and expansion
- Borrow from £25,000
- Offers secured or unsecured loans
- No hidden costs
- No early repayment charges
- Fast online application process
- Receive a decision as soon as 24 hours
- Available to a variety of businesses
- Loans are provided by a community of investors
rebuildingsociety.com is a peer-to-peer lending provider that offers loans from their community of investors. Their loans are available to a wide range of businesses of all shapes and sizes who need to borrow the funds for a variety of purposes including business growth and expansion.
rebuildingsociety.com’s loans are a flexible loan which can be secured or unsecured that lends from £25,000. Their loans are transparent with no hidden fees and no early repayment charges. They have a fast online application process to turnaround loans quickly and you can receive a decision in as soon as 24 hours.
20. Spotcap
Some of the features and benefits of Spotcap’s business expansion loans.
- Transparent loans
- Borrow up to £250,000
- Terms from 1 month to 2 years
- No early repayment fees
- Straightforward and simple loan
- Can be used for any loan purpose
- Simple online application
- Decisions can be made in a working day
- Available to small to medium-sized businesses
- Rated highly on Trustpilot
Spotcap is a financial provider whose business is based online and offers a tailored lending solution which also allows them to deliver swift and simple loans. They cater their loans towards small to medium-sized businesses for a variety of business purposes which includes growth and expansion.
Spotcap’s business loans offer funding up to £250,000 over periods of 1 month to 2 years. Their loans are straightforward and transparent and have no early repayment charges. Their loans are designed to be easy to apply for online and they can reach a decision as soon as one working day.
21. Ultimate Finance
Some of the features and benefits of Ultimate Finance’s business expansion loans.
- Offers several funding solutions
- Loans from £7,500 to £250,000
- Terms from 3 months to 5 years
- Ultimate Loan product
- Invoice finance
- Asset finance
- Competitively priced
- Decisions made swiftly
- Release up to 95 of your unpaid invoices
- Finance to purchase assets to expand your business
Ultimate Finance is a financial provider who offers a range of funding solutions to businesses for a variety of funding reasons which includes business growth and expansion. They offer three products which can all be used to help expand your business.
Ultimate Finance’s Ultimate Loan offers funding from £7,500 to £250,000 over periods 3 months to 2 years. Their invoice finance product offers up to £5 million through factoring or discounting that can release up to 95% of your unpaid invoice values. Their asset finance enables businesses to buy or lease equipment up to £1 million.
22. ThinCats
Some of the features and benefits of ThinCats’ business expansion loans.
- Tailored loan solutions
- Working capital loans suited to business expansion
- Loans from £250,000 to £15 million
- Terms from 6 months to 5 years
- Security is required
- Bespoke solutions
- Suited to small to medium-sized businesses
- Can be used for growth finance and asset finance
- They take time to listen and understand your business
- Claim to be a responsible lender
ThinCats is a funding provider who has created their business on the premise of bringing together borrowers and funding from retail and institutional investors. They offer tailored working capital loans which are designed to fund growth finance, asset finance, refinancing and acquisition finance which can help businesses to expand.
ThinCats’ business loans offer funding from £250,000 to £15 million over periods from 6 months to 5 years. Their loans will require you to offer security to be eligible for the loan and they promise to listen to your needs and circumstance so that they can tailor the loan to suit you.
23. LendingCrowd
Some of the features and benefits of LendingCrowd’s business expansion loans.
- Peer-to-peer lending provider
- A platform where lenders bid for your loan opportunity
- Loans from £5,000 to £50,000
- Terms from 6 months to 5 years
- Transparent loan
- Choice of loan terms
- Quick decision within 24 hours
- Funding can be received on the same day
- Interest rates from 5.95%
- Experienced and supportive credit team
LendingCrowd is a peer-to-peer lending provider whose loan platform allows borrowers to post their loan requirement details for signed up investors to bid for your loan opportunity. Bids are competitive and you can select which loan offer to accept and their interest rate starting at 5.95%.
LendingCrowd’s loans are available for a variety of reasons including business growth and expansion. They can offer funding from £5,000 to £50,000 for over 6 months to 5 years. The loans are transparent with clearly defined costs and competitive fees. They aim to offer quick decisions within 24 hours and funding can be received on the same day as the loan is agreed.
24. Huddle Capital
Some of the features and benefits of Huddle Capital’s business expansion loans.
- Peer-to-peer lending provider
- Matches investors and borrowers
- Suitable for small to medium-sized businesses
- Unique and secure lending platform
- Carefully vets all clients
- Borrowing amounts depend on your circumstances
- Processing of loans can take up to a month
- Has experienced financial experts
- Available to a range of businesses
- To be eligible you must be UK based and free from CCJs
Huddle Capital is a peer-to-peer lending provider that offers borrowers an alternative to traditional bank loans. They have a unique and secure lending platform which matches investors with borrowers after they have been carefully vetted. Their loans are available for a variety of reasons which include business expansion.
Huddle Capital’s peer-to-peer loans are designed to support small to medium-sized businesses but to be eligible they must be based in the UK and be free from CCJs. Their loan amounts are not stated but they will lend money based on your circumstances and your ability to repay the loan.
25. 365 Business Finance
Some of the features and benefits of 365 Business Finance’s business expansion loans.
- Cash advance funding service
- Borrow from £5,000 to £200,000
- Unsecured loan
- Repayments are based on your card transactions
- Single all-inclusive cost
- No admin fees
- No APRs
- Simply online application
- Provides approval within 24 hours
- State they have a 90% approval rate
365 Business Finance is a financial provider that specialises in a merchant cash advance service where loans are linked to your card sales. They offer their services to small to medium-sized businesses for a variety of reasons including business growth and expansion.
365 Business Finance’s cash advance loans are designed to be a quick and simple loan which can be arranged online and approval can be received within 24 hours. Their loans offer from £5,000 to £200,000 on an unsecured basis with no fixed terms or fixed repayments as the repayments match your card income through taking a small percentage of the card income.
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