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Step 1: Deciding on business finance

Managed Payroll Service

When looking into financing your business, there are a number of factors to take into account. These include what you need it for, as well as the size and type of your company.

We've created this 6-step lending guide to help you build a strong application and understand our assessment process.

 

Which form of finance is best for you?

Consider the various options below to see which best fits your business's needs.

Business loan

We offer flexible business loans ranging from £1,000 to £25,000 , as well as more significant investments over £25,000 . A Barclays Business Manager can help you decide on the amount and repayment terms if you're unsure of how much you need, or can afford to borrow.

A business loan could suit you if:

  • You need a cash injection to buy new equipment or a company vehicle
  • You're looking for a flexible solution that can be repaid in convenient, fixed instalments

 

Overdraft

Sometimes, you might just need a safety net rather than a large lump sum. In this case, a business overdraft might provide a solution. Your Barclays Business Manager can help match your overdraft limit to your borrowing requirements – how much you need and for how long you'll need it. You'll only pay interest when you start using your overdraft and only on the amount you use.

An overdraft could help your business if:

  • Cash is tight and you have short-term borrowing needs
  • Trading is stronger at certain times of the year and you have a seasonal borrowing requirement

 

Commercial mortgage

If you want to buy a new property for your business or release equity from an existing one, a commercial mortgage could be an appropriate financing solution. We can agree a repayment period of anything from 1 to 25 years. And if it would help – if you're just getting off the ground, for example – you can opt to pay interest-only for the first 3 years. A mortgage from equity release on an existing property can be used for any business purpose.

Consider a commercial mortgage if:

  • You want to buy new business premises or release some equity from an existing one
  • You have another property that you'd like to use to secure business finance
  • You want to borrow any amount over £25,000 or borrow up to 80% of the value of your current property. However, there are limitations attached to certain industries and the loan is subject to lending on certain maximum and minimum amounts. Talk to your Barclays Business Manager for further information

Any property used as security, which may include your home, may be repossessed if you don't keep up repayments on your mortgage.

Credit cards

Business credit cards are ideal to help support a business's cashflow needs, whether you're starting up, growing or already established. Our business credit card lets you separate your personal and business expenditure and includes an interest-free period of up to 56 days.

You can apply for a credit card online . It only takes a few minutes and you'll hear from us with a decision within 14 days.

 

Cashflow finance

Cashflow finance is suitable for businesses looking to release cash tied up in their invoices. It offers the following benefits:

  • Get up to 85% of your approved invoices advanced within 24 hours. This is usually more than offered with traditional overdrafts
  • Online access to your sales ledger status and electronic payment requests
  • We can take on the risk of non-payment by your debtors

 

If you're still unsure of which form of finance to choose, book an appointment with a Barclays Business Manager to discuss your requirements in more depth.

 

Existing Barclays customer?

View our range of loans online


Apply for a loan through one of our Business Managers
 

New to Barclays?

See our Business current accounts


Apply online for a Business current account
 

Important Information

1. Lines are open Monday to Friday, 8am–7pm. To maintain a quality service, we may monitor and record phone calls. Read our call charges and information

2. Lines open Monday to Friday, 8am–8pm. To maintain a quality service, we may monitor and record phone calls. Read our call charges and information

The Lending Code. Barclays Bank PLC subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. The Lending Code sets minimum standards of good practice when dealing with certain customers in the UK in relation to loans, current account overdrafts, charge cards and credit cards. Further details can be found at Lending Standards Board

 

Barclays Bank PLC. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 122702). Barclays Bank PLC subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. Further details can be found at www.lendingstandardsboard.org.uk. Barclays Insurance Services Company Limited is authorised and regulated by the Financial Conduct Authority (Financial Services Register number: 312078).

Barclays Bank PLC. Registered in England. Registered no. 1026167. Barclays Insurance Services Company Limited. Registered in England. Registered no. 973765. Registered office for both: 1 Churchill Place, London E14 5HP. ‘The Woolwich’ and ‘Woolwich’ are trademarks and trading names of Barclays Bank PLC. Barclays Business is a trading name of Barclays Bank PLC.


 

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