Business loans from £5k to £5M+: unsecured and secured

An unsecured business loan provides a lump sum of cash without requiring collateral: you do not need to pledge property or assets as security. The lender assesses your creditworthiness based on trading history, turnover, and profitability. Because there is no security, rates are typically higher than secured lending, but the application process is faster and simpler.

Business loans typically range from £5,000 to £5,000,000+. Unsecured loans are available up to around £500,000 for well-established businesses; secured loans, backed by property or assets, allow higher borrowing. The right amount depends on your annual turnover, trading history, purpose, and ability to service the debt.

Our business loan calculator uses APRs starting from 7.9%, with a representative APR of at least 8.9%. These are indicative assumptions, not a quote or guaranteed rate. Actual rates depend on your credit profile, trading history, loan size, security and lender assessment. We can consider relevant options from our panel of 150+ lenders.

Many lenders require a personal guarantee (PG) for business loans, particularly for smaller, newer, or owner-managed businesses. A PG makes you personally liable if the business cannot repay. It is not always required, particularly for larger, well-established businesses with strong financials. We will advise on which lenders require PGs and on what terms.

Many business loans allow early repayment, sometimes without penalty. Others charge an early repayment fee, typically equivalent to one to two months of interest. We will highlight early repayment terms as part of any loan comparison so you can factor flexibility into your decision.

Typically: last two to three years of filed accounts (or management accounts if more recent), bank statements for the last three to six months, details of any existing debt or facilities, and proof of identity and address for directors. Some lenders use open banking to assess applications faster, reducing the documentation required.

Unsecured business loans can often be approved within 24–48 hours and funded within a few days. Larger or secured loans, or those involving complex structures, may take one to four weeks. A broker submission, with a well-packaged case, typically achieves faster decisions than going direct to a lender.