A business loan is money that a business borrows from financial institutions like banks and credit unions or non-financial institutions like government bodies.
Our business loans are a straightforward way to finance your business and you can use them for a variety of reasons. This includes small loans for everyday businesses or startups, to large loans for expanding bigger operations.
We'll give you flexible borrowing options for your business, whether you need to buy some new equipment, want to improve your cashflow or are looking to build your business. You can borrow with terms from one to 25 years and our loans can be tailored to meet the unique challenges of your business.
You'll need to make regular repayments, including interest, until your loan is repaid. This will be detailed in your repayment schedule.
How do business loans work?
We’ll give you an estimation of what your loan APR rate is likely to be before you apply, without affecting your credit score. Then you can apply in Online Banking or the Barclays app.
- It's simple – we'll give you flexible borrowing options for your business on amounts up to £100,000. If you need to borrow more than £100,000, you’ll need to apply for a secured business loan instead.
You'll need to make regular repayments, including interest, until your loan is repaid. This will be detailed in your repayment schedule.
While there’s an overall 11.2% representative APR for loans ranging between £1,000 and £25,000, the representative APR varies according to the amount you want to borrow:
- 14.9% APR representative on loans from £1,000 to £5,000
- 11.2% APR representative on loans from £5,001 to £10,000
- 8.9% APR representative on loans from £10,001 to £15,000
- 8.5% APR representative on loans from £15,001 to £20,000
- 8.5% APR representative on loans from £20,001 to £25,000.
Use our business loan calculator for an indication of what an unsecured loan of up to £25,000 could cost.
After that, you can apply in Online Banking or our app if you've already got a business account with us. Once your application is approved, you’ll usually have your money within 48 hours of signing the paperwork.
If you don’t have the app or Online Banking or would prefer to talk to us, get in touch with your usual business contact or call us on 0333 202 7431.
If you're new and don't yet have an account, call us on 0800 515 462. We’ll explain which documents and financial statements we’ll need to see when you apply.
What information do I need to provide to apply for a business loan?
- If you’re ready to apply, we’ll need some information about you and your business, including:
- Your trading accounts
- Your current business plan
- Your profits and losses
- How you’re planning to use the loan.