London is one of the world’s biggest hubs for startups and growing businesses. Entrepreneurs are drawn to London for its endless opportunities to meet investors, as well as like-minded collaborators and co-founders. SME owners also have unrivalled access to the best in talented employees, eager to start their careers in dynamic industries like travel, digital, finance, design, retail, professional services and fashion.
London business loans
Below are a selection of funding providers that are worth considering if you’re about to start looking into finance for your small business. Although London is a base for major funding providers, we’ve concentrated on some of the alternative options to give you the best possible choice.
Limited companies and LLPs can apply for flexible business loans ranging from £5,000 and £500,000 for all business purposes. The loans are designed to meet the requirements of individual businesses, and can be repaid over a flexible term of 1-48 months. The money can even be in your account within 48 hours.
You can find out more about our products by visiting our services page, but here are the key features of our financing options for London-based SMEs:
- London business loans of £5,000 – £500,000 over 3 – 48 months
- Approval and deposit in as little as 24 hours
- No hidden fees or early-repayment penalties
- Competitive interest rates starting from 0.9% per month
- Interest charged on a reducing balance, not the total loan amount
- Repayment holidays and top-ups available with all loans
- Exclusive discounts on industry-leading business services
This social business provides financing for SMEs turned down by mainstream funding providers. Small enterprises can borrow between £10,000 and £30,000 and can be from a variety of industries. Small and microbusinesses are welcome to apply, along with self-employed entrepreneurs. The enterprise also offers debt advice and financial capability services through registered charity Fair Money Advice.
This Start Up Loans provider can provide finance to businesses yet to launch or those that have been trading for up to 12 months. The scheme also provides free access to business mentoring advice. You can apply for a loan whether you are employed, unemployed or studying at the time of application. Loan terms can run for up to five years, and interest rates are typically 6% per annum (6.2%APR).
This is a funding provider for the capital's hospitality businesses, providing grant loans from £100,000 up to £2 million. The grant is exclusively available to London restaurants, brasseries, cafes, diners, cocktail bars, boutique hotels and nightclubs.
This Start Up Loans provider offers business finance of between £500 to £25,000 at a fixed interest rate of 6% (Typical APR 6.2%) with no loan arrangement fees. Businesses must be trading for 24 months or less. You'll also have access to business offers and business mentoring.
This Start Up Loans provider offers business finance ranging between £500 to £25,000 exclusively to clothing, accessory, footwear and jewellery businesses in Greater London who are having trouble getting started due to a lack of funds. You'll also receive ongoing business mentoring with fashion industry mentors and benefit from no early repayment charges.
You can take a look at other Start Up Loans providers within Greater London here.
How Fleximize's business loans can be used in practice
Polly Thompson, owner of Wimbledon-based bridesmaid boutique Nabbd, benefitted from a Fleximize business loan to secure a new premises for her online business. Since then, we’ve lent Polly further funds to expand her product range and bring in a new line of dresses from another designer. Watch the video below to hear how Fleximize were able to help Polly’s business grow and thrive, or click here to read her story in full.
Polly Thompson, owner of Nabbd in Wimbledon, London, used a Fleximize loan to secure new premises and expand her product range
Fleximize's application process includes decisions made by real people and a speedy turnaround time, so busy SMEs can put their flexible business loan to good use quickly. If you’re looking for a small business loan, call us on 020 7100 0110, and our friendly UK-based team will be happy to answer any questions you might have.
How to apply for a London business loan
If you want to do some more research before committing to a small business loan, take a look at our guide to alternative finance. Or, if you're ready to apply for funding today, simply complete our short application form with a few basic details. Once we've received all the documents required, a member of the team will be in touch to help you through the final stages.