Small Business Loans Wales

Businesses in Wales cover a huge diversity of sectors and have been recently experiencing a rise in foreign export. The value of exports for Wales during 2018 was £17.2 billion, a 4.2% increase compared to the previous year.

Wales currently boasts a growing number of SMEs, but recent data reveals that only 51% of Welsh SMEs believe that their bank understands their needs, whilst 68% believe that their needs are being overlooked in favour of more profitable and larger companies. As such, the supply and demand for alternative finance in Wales is growing to support the many Welsh SMEs who are unable to secure a traditional business loan from their bank.

Welsh Business Loans

Here are a few of the top contenders for those looking for a small business loan across Wales:

Fleximize

Fleximize offers flexible business loans to SMEs which can be deposited in as little as 48 hours. Limited companies, LLPs, and non-limited partnerships with four or more partners can borrow from £5,000 to £500,000, and sole traders or non-limited partnerships with less than four partners can apply for loans over £25,000. Each loan is designed for each individual SME, and Fleximize relationship managers make sure the loan is affordable.

You can find out more about our products by visiting our services page, but here are the key features of our financing options for Welsh SMEs:

• Welsh 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

Apply for a business loan

The Development Bank of Wales

A unique resource for Wales, this organisation helps businesses based in Wales with finance to help start up, strengthen and grow. They offer business finance from £1,000 up to £5 million, including seed finance for pre-revenue tech startups and loans for property projects in Wales. Fast track loans are available for established businesses looking for a loan between £1,000 and £10,000 and micro-loans are also available for businesses seeking funding of between £1,000 and £50,000.

Robert Owen Community Banking

Loans between £1,000 and £50,000 are available for startups that have been trading for two years or longer. The interest rate is 12.5% fixed per annum and the money can be paid back over a term of up to five years. The organisation is not-for-profit and seeks to reinvest money in the local economy by helping communities prosper. As such, they also provide business advice to those who are successful in securing a business development loan, along with access to a qualified accountant and a dedicated mentor.

Wales Micro-Business Loan Fund

Social enterprises that are based in Wales can apply for loans between £1,000 and £50,000, repaid over a term of up to five years. The fund is a Welsh Government investment to support SMEs and is investing a total of £6 million in small loans until 2022.

Antur Teifi

SMEs can apply for loans between £500 and £25,000 through this startup loans provider. Businesses that haven't yet launched or have been trading for up to 24 months are able to apply and all loan recipients will also have access to a mentor and exclusive business offers.

Newport City Council

This local authority is lending up to £10,000 to new businesses operating for more than 12 months in Newport. The repayment term ranges from 12 and 36 months with an interest rate at 1% above the Bank of England’s base rate.

UK Steel Enterprise Loans

Money is being invested into businesses that are impacted by changes in Britain’s steel industry. Loans starting at £25,000 are available for working capital, equipment purchase, premises, relocation, starting up, and many other purposes. Borrowers repay over three to five years.

Pembrokeshire Lottery Loan Fund

New and existing SMEs in the county can apply for loans to expand and create new jobs. There’s a focus on businesses that are also bringing resources into the region or providing services otherwise not available in Pembrokeshire. The funding will cover up to 35% of capital project costs, with an upper limit of £35,000. Repayments can be made over two to five years and you must take part in the Pembrokeshire Lottery.

Gwynedd Business Loan Fund

SMEs in the Gwynedd Council area can apply for loans ranging from £25,000 and £100,000, over a typical repayment term of 36 to 60 months. There are also asset loans up to £750,000, which borrowers have over 60 months to repay.

A full list of startup loan providers in Wales can be found here. For more information on other funding options around the UK, take a look at our Guide to Alternative Finance.

How to apply for a Welsh business loan

Fleximize offers a quick and easy online application form for businesses based in Wales. If you pass our initial checks, one of our friendly relationship managers will get in touch with the next steps. Once we have everything we need, you'll receive a lending decision and your deposit in as little as 24 hours.