Rate Comparison Tool

Compare the cost of your business loan quotes with this handy rate comparison tool

Compare business loan rates

At Fleximize, we believe business loans should be priced fairly and transparently. As the majority of SME lending in the UK is unregulated, commercial finance providers aren't obliged to disclose an annual interest rate or comparable rate of funding. With lenders presenting business loan rates in different ways, SMEs can find it difficult to compare quotes. As a result, many businesses are paying more than they think for their finance.

Using our rate comparison tool, SMEs can compare business loans that are based on different rates, and discover the true cost of their quotes.

Add Your Quote Details

Enter your loan terms below to compare costs based on interest rate, yield and factor rate.

See How Your Quote Translates

The table below shows how your quote would appear as other commonly used rate types.

Your Loan Quote Comparison (Excluding Fees)
Annual Interest Rate {{ annualInterestRate | percentage(2) }}
Monthly Interest Rate {{ monthlyInterestRate | percentage(3) }}
Daily Interest Rate {{ dailyInterestRate | percentage(4) }}
Yield / Interest as a % of Loan {{ yield | percentage(3) }}
Factor Rate {{ factorRate | round(4) }}
Flat Rate {{ flatRate | percentage(1) }}
Your Loan Quote Summary (Including Fees)
Loan Amount {{ amount | currency }}
Mandatory Fees {{ feeTotal | currency }} {{ feeRate | percentage(2) }} of Loan Value
Total Loan Amount {{ totalLoan | currency }}
Loan Term {{ term }} Months
Monthly Payment Amount {{ monthlyPayments | currency }}
Total Interest Amount {{ totalInterest | currency }}
Total Payable {{ totalPayable | currency(2) }}

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Definitions of business loan rates

We’ve provided the following key definitions, which we hope will give you a better understanding of your funding options, and allow you to make an informed decision.

Annual interest rate
The annual rate that is charged on a loan. Expressed as a percentage, it represents the actual yearly cost of funding over the term of the loan. Annual interest is calculated by multiplying the monthly rate charged on the loan by the number of payment periods in a year, i.e. Annual interest rate = monthly rate x 12.

Yield denotes the total interest paid in a year as a percentage of the loan amount. It can be calculated by dividing the total amount of interest paid in one year by the amount funded. For example, if £2,500 interest was paid on £10,000 worth of funding, the yield on that loan would be 25%.

Factor rate
A factor rate is another way of representing the cost of a loan, and is commonly associated with merchant cash advances, which offer funds to businesses in exchange for a portion of their daily credit card income. Instead of being expressed as a percentage, a factor rate is written as a decimal, typically ranging from 1.1 to 1.5. To find out the total amount repayable, businesses have to multiply the advance amount by the factor rate. For example, if a business borrows £10,000 at a factor rate of 1.5, the total amount repayable will be £15,000.

Why did we create this tool?

We believe it’s important that businesses know exactly how much they’ll be paying before committing to a loan. With lenders presenting their business loan rates in different ways, it creates confusion around the cost of business finance,making it hard for businesses to compare business loan quotes from competing lenders. This rate comparison tool is designed to offer some much-needed clarity on the price of SME finance, and ensure that business owners make the best funding decision for their company.

How does the tool work?

Our rate comparison tool is built on an algorithm that automatically converts a business loan quote into a range of other rates. This can help business owners compare a number of business loan quotes that are based on different rates.

Additional information

If our rate comparison tool hasn’t given you the information that you require, there’s plenty of other literature available on the internet. While Investopedia offers definitions of every financial term under the sun, the articles on Fleximize’s Knowledge Hub also cover a range of relevant topics.