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UK business loans, explained
Fleximize is led by a team with a vast expertise in business loans, having provided funding to thousands of UK businesses since its inception in 2014.
The simplest explanation of what a UK business loan actually is, is self-evident. Put simply, it is a loan provided to a UK-based company (rather than an individual), often providing British businesses with the funds they require to cover their operational expenses or invest in growth opportunities.
In practice, there’s obviously more to it than that, but we’ve spent years building business finance solutions around the ethos that business loans should be simple for the customer.
Read on to find out how a UK business loan could help take your business forward, and when you’re ready, follow our simple online application process and begin your funding journey with Fleximize.
Apply for a business loan in the UK
The benefits of a business loan can help underpin the growth of your business, ensuring its sustainability and resilience in the face of changing requirements. Whether that be in the purchase of equipment, refurbishment of premises, recruitment of staff, or boosting cash flow for other purposes, business loans can support a wide range of business needs.
Globally recognized as a hot-bed of innovation and entrepreneurship, small and medium enterprises (SMEs) make up more than 99% of the UK’s businesses. Having long formed the backbone of Britain’s workforce and economy, many of these growth stage businesses have historically found access to finance longwinded or cumbersome, but the emergence of fintech lending has greatly simplified and accelerated the process.
Apply online
Get a decision
Receive your funds
Fintech has fast become the go-to option for most Brits, with 8 out of 10 adopting fintech to manage their bank accounts and financial transactions in the wake of the Covid-19 pandemic, and 70% of UK SMEs seeking the aid of fintech lenders to ensure their resilience and growth through the ongoing cost of living crisis.
No matter where in the UK you’re based, Fleximize can support you in finding the funds you require, with loans of up to £250,000 in Scotland and Northern Ireland, and up to £500,000 in the rest of the country.
We place great value on your time as a business owner, which is why we’ve built bespoke fintech solutions to streamline our application process, enabling you to apply online in just a few minutes.
Key benefits of a Fleximize business loan
Fleximize’s award-winning Flexiloans have helped thousands of SMEs secure the funding they require.
Here's what sets us apart:
- Multi-award-winning business lender, commended for its best-in-class service by the likes of Moneyfacts, the Amazon Growing Business Awards, The Sunday Times Tech Track 100, and the British Bank Awards
- Fully tailored finance solutions of up to £500,000, with repayment terms from 3 to 60 months
- Bid farewell to hidden fees and early repayment penalties
- Interest calculated on a reducing balance, not the total loan amount
- A dedicated team of experts, on-hand to help throughout, and always only a phone call away
- Unlock ‘gold level’ discounts on premier business services through our esteemed Member Marketplace
- Convenient features, such as repayment holidays and top-ups, provided as standard
- Swift approval and deposit in as little as 24 hours
After your first Fleximize application reaches underwriting, you’ll be assigned a dedicated relationship manager, who will become your single point of contact, no matter how many times you return for funding.
Offering direct personal access to a financial services expert in perpetuity, is a privilege most banks and traditional lenders would reserve for only the wealthiest of their clientele. Fleximize is different. We firmly believe in providing the highest level of service to every customer, regardless of size.
Fintech-powered, but relationship-led, we take great pride in offering our customers the benefits of our pioneering technical innovations, while remaining on first name terms with them over years.
Driven by our esteemed Loyalty Pledge, this unparalleled level of service is one of the myriad reasons two-thirds of our customers return to us for further funding, once they have repaid their initial loan.
Loved by our customers
How much could my UK SME borrow?
Fleximize provide flexible funding tailored to your business's requirements. Any UK businesses can apply for an SME loan of up to £250,000, with the maximum loan amount extending to £500,000 for businesses trading in England and Wales.
Every business loan application is individually assessed based on a company’s specific needs and circumstances.
Maximum loan amounts may vary depending on historic factors such as revenue, credit history, or trading time, though our expert underwriters also consider a business's future potential when deciding how much funding to approve.
Whether you're seeking funds for expansion, investment, or day-to-day operations, our team is dedicated to ensuring that our financing solutions are aligned with your business’s individual circumstances and funding requirements.
To find out exactly how much we could offer your business, apply online using the button below, or reach out to us to discuss your options.
What can a small business loan be used for?
Small business loans can assist in the purchase or refurbish equipment or machinery, to relocate or expand into new premises, or even to acquire an existing business through a management buyout.
Whether you require funding to facilitate new marketing initiatives, to consolidate existing commercial debt, kickstart new ventures, or increase the capacity of your workforce, business loans offer tremendous versatility, catering to almost any legitimate business need.
How much does a business loan cost?
For an estimated cost of Fleximize's funding, try our business loan calculator below, which will give you an idea of how your monthly repayments could break down, or apply for a loan online for a more in-depth evaluation.
What information will I need to provide?
Applying for a Fleximize loan is a quick and easy process, which typically takes around 5 minutes.
During the application process, you’ll be asked to provide some basic information on yourself, your company, and the other directors, including names and addresses, as well the purpose of your loan, and some information on your company’s typical revenue.
In terms of documents: to assess your application we also require business bank statements covering the last three months of trading, your most recent set of management accounts, and a revenue summary. You can upload these while applying, or in your members area after, or join the 5 million UK users already utilising the power of Open Banking, and securely share your bank statements with us digitally, in just a few clicks.
Can I get a UK business loan if I’m based overseas?
Businesses operating fully overseas, including in Crown Dependencies and the Republic of Ireland, are not considered UK businesses and therefore not eligible for UK business loans. However, if you have a company limited by shares, incorporated, and operating within the United Kingdom, Fleximize could provide you with financing, regardless of whether the UK serves as your primary base of operations.
Consider the case of a logistics company primarily based in Madrid. If that company also oversees a subsidiary in the UK which is registered at Companies House, structured as a limited liability company, and has at least one director residing in the UK, that UK subsidiary would meet the criteria for applying for a UK business loan.
Given the intricate nature of global enterprises, we understand that there may be uncertainty regarding your eligibility. If there is, we would encourage you to reach out to our team, who will be able to clarify whether we can help with the funding requirements of your overseas business.
National vs regional business loans in the UK
In the UK, a vast range of finance options are available at both national and regional levels, but with this abundance of choice, also comes a lot of unclear and complex messaging, which often leaves busy business owners feeling confused or overwhelmed.
To create more clarity, we’ve produced a series of pages on the financial considerations of small businesses in the country’s main regional areas:
| Regional Business Loans | |||
|---|---|---|---|
| East Midlands | East of England | London | |
| North East England | North West England | Northern Ireland | |
| Scotland | South East England | South West England | |
| Wales | West Midlands | Yorkshire | |
Whether you're crafting a peaty malt in the Scottish highlands, managing a boutique bridemaid's shop in London, leading an esteemed legal practice in Northern Ireland, or running a coastal cafe in Cornwall, our dedicated team is here to help provide the financial support your business deserves.
Fleximize provide business loans throughout the UK, to both limited and non-limited companies, catering to businesses of all sizes.
Apply for a business loan today
Ready to take your business to new heights with a UK business loan? Pour yourself a coffee, pull up a chair, take 5 minutes, and apply today. Our streamlined online application process is designed with your convenience in mind, ensuring a seamless experience every step of the way.
Your common questions answered
UK business loans can broadly be divided into two main categories: unsecured and secured.
Unsecured business loans do not require personal or company assets to be provided as collateral, instead relying on the personal guarantee of business owners, shareholders, or company executives. Secured business loans are backed by an asset, typically enabling access to larger sums of funding or lower rates of interest.
The optimal business loan for you hinges on factors such as desired loan amount, asset base, and personal preferences. Recognizing the uniqueness of each business, Fleximize offers a range of loan options, including both unsecured and secured loans, with added flexibility such as repayment holidays, top-ups, and penalty-free early repayments.
While traditional loans are appropriate for most customers, the UK also offers a plethora of other funding avenues, including:
- Equity funding options like angel investment or venture capitalism
- Crowdfunding or peer-to-peer lending
- Specialized business loans tailored to industries such as construction, retail, e-commerce, and manufacturing
Even if you're unsure about whether a traditional term loan aligns with your business's needs, we would invite you to engage in a no-obligation discussion with our team. We take immense pride in our expertise and adaptability. And even if our offerings aren't a perfect fit, we have an extensive network of partner lenders, ensuring we can explore all of market solutions to find the ideal fit for your business.
Our UK business loans are available over terms of 3 to 36 months on an unsecured basis, or 3 to 60 months on a secured basis.
We can usually provide you with a decision within 48 hours of applying, and once you’ve signed the documentation, we can typically deposit the same day we approve your application.
Your success is our priority, and we're committed to making your experience as swift and seamless as possible!
Yes, you can. Subject to our AML requirements being met, you can draw down your loan the same day.
Yes of course. Reach out by email, webchat, or via the phone. We can update the application amount at any time.
We employ a comprehensive approach to assessing affordability, considering a range of factors. Primarily, we examine incoming and outgoing revenues, available cash cover to effectively service a new loan facility, and the profitability of your business.
UK business loans are accessible nationwide, catering to both limited and non-limited businesses of all scales. Whether you operate in England, Scotland, Wales, or Northern Ireland, our services are available to support the financial needs of your business.
Apply online here, to start the process today.
Absolutely! Even if your personal credit rating isn't stellar, or if you've faced rejections in the past, Fleximize is here to support you and your business.
At Fleximize, we take a holistic approach to assessing loan applications, considering both the company's merits and the strength of its directors, so don't let a less-than-perfect personal credit history deter you from applying.
Behind the scenes, Fleximize is powered by a highly experienced team of financial professionals who recognize that numbers aren't always the complete picture. If you've experienced a dip in your credit score due to a singular event, we invite you to open up a conversation with us. We approach such situations with understanding, distinguishing them from instances of genuine financial hardship. Your unique circumstances are important to us, and we're here to find positive solutions together.
If there are other directors in your company with stronger personal credit ratings than your own, it is also recommended that you provide their details in full, as this will give you the very best chance of being approved.
While it’s important to understand that a business loan itself doesn't qualify for tax deduction, under UK tax law, the interest you pay on the loan can sometimes recognised a business expense, and can therefore become tax deductible, as long as the funds have been used for specific business purposes, for example, in the purchase of a class of assets known as plant and machinery.
While those who meet the criteria may wish to consider claiming tax relief on alternative finance, it is important to understand the nuances, potential changes in tax laws, and the risks associated with errors. Seeking guidance from a tax adviser is recommended before proceeding.
Whether you have one or more loans with other lenders, or are an existing Fleximize customer, options are available for refinancing your existing loans.
If you already have a business loan with Fleximize, you can apply for a top-up (of additional funding) via your members area, or by reaching out to your relationship manager, once you have made three successful monthly repayments.
If you have existing business loans with another lender, funding from Fleximize can be used to settle this debt, to reduce its cost, and offer the additional features of a Fleximize loan.
If you are currently managing multiple business loans from other lenders, Fleximize may be able to offer you a commercial debt consolidation loan, helping you restructure your debt into a single, more affordable payment. This not only makes managing your finances easier, but also provides the opportunity to explore increasing the size of your loan, as required.
Do you have a question that you can't see? Check out our FAQ page.
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