The prospect of securing a loan on valuable business property can be a bit daunting for some small business owners. Thankfully, there are lots of unsecured business loan options out there to choose from, all with different terms to suit different kinds of businesses.
These 34 lenders and brokers offer fixed and flexible competitive unsecured loans from a couple of thousand up into the millions. Keep scrolling to find the best unsecured loan for you.
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- Borrow up to £50k
- Offers credit cards and a revolving credit line
- Rates as low as 9.9% APR
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- 2 minute application
- Access to funds within minutes
- Available to limited companies, sole traders & freelancers
- Rated 4.6 out of 5 on Trustpilot
Companies are ranked in no particular order.
| Bank/lender | Minimum loan amount | Maximum loan amount | Maximum term |
|---|---|---|---|
| Bank of Scotland | £1,000 | n/a | 25 years |
| Barclays | £1,000 | £100,000 | 10 years |
| Clydesdale Bank | £25,001 | £10 million | 15 years |
| HSBC | £1,000 | £25,000 | 10 years |
| Lloyds Bank | £1,000 | £1 million | 25 years |
| Metro Bank | £2,000 | £25,000 | 5 years |
| NatWest | £1,000 | £50,000 | 10 years |
| TSB | £1,000 | £1 million | 10 years |
| Royal Bank of Scotland | £1,000 | £50,000 | 10 years |
| Ulster Bank | £1,000 | £25,000 | 10 years |
| Yorkshire Bank | £25,001 | £10 million | 15 years |
| 365 Business Finance | £5,000 | n/a | n/a |
| ABC Finance | £5,000 | £500,000 | 5 years |
| ArchOver | £100,000 | £5 million | 3 years |
| Aspire Business Loans | £5,000 | £300,000 | 5 years |
| Capify | £5,000 | £250,000+ | n/a |
| Catalyst Finance | £25,000 | £1 million | 12 months |
| Cubefunder | £5,000 | £100,000 | n/a |
| Esme Loans | £1,000 | £250,000 | 5 years |
| Fleximize | £5,000 | £500,000 | 2 years |
| Funding Circle | £50,001 | £500,000 | 5 years |
| Huddle Capital | n/a | n/a | n/a |
| iwoca | £1,000 | £200,000 | 12 months |
| PFC Finance | £5,000 | £1 million | 5 years |
| Rangewell | £1,000 | £250,000 | 5 years |
| rebuildingsociety.com | £25,000 | £250,000 | 5 years |
| Satellite Finance | £3,000 | £1 million | 10 years |
| Spotcap | £50,000 | £350,000 | 2 years |
| Starling Bank | £5,000 | £250,000 | 5 years |
| Start Up Loans | £1,000 | £25,000 | 5 years |
| White Oak | £2,000 | £500,000 | 5 years |
| Intelligent Loans | £10,000 | £250,000 | 5 years |
| Just Cashflow | £10,000 | £500,000 | 12 months |
| inFund | £5,000 | £150,000 | 12 months |
1. Bank of Scotland
- All loans available unsecured for businesses with an annual turnover up to £3 million.
- £1,000 – £50,000 available.
- Repay over 1-10 or 1-25 years.
- Fixed and flexible rates available from 5.1% APR representative.
- Monthly repayments.
- No arrangement fees.
- Open to new and existing customers.
Website: Bank of Scotland Business Loans
Read the full Bank of Scotland Business Finance review.
2. Barclays
- Loans of £1,000 to £100,000 available unsecured.
- 7.9% APR representative on loans up to £25,000.
- Cash available within 48 hours.
- Extend your provisional lending limit in 24 hours.
- Choose your repayment term.
- Fixed interest rates.
- 6-month repayment holiday available at the start of your loan (interest will still accrue).
Website: Barclays Business Loans
Read the full Barclays Business Finance review.
3. Clydesdale Bank
- Loans from £25,001 to £10 million.
- Loans can be unsecured depending on your circumstances.
- Flexible and fixed repayment options.
- Interest applied monthly or quarterly.
- Repayment up to 15 years with a variable rate or 5 years with a fixed rate.
- Arrangement fee may apply.
Website: Clydesdale Bank Business Loans
Read the full Clydesdale Bank Business Finance review.
4. HSBC
- Fixed loans from £1,000 to £25,000. Flexible loans £25,000+.
- Unsecured options depending on circumstances.
- Interest rates 7.1% APR Representative.
- Repayment from 12 months to 10 years.
- Fixed repayments for the life of the loan.
- Defer your first repayment for 3 or 6 months, or choose a January repayment holiday.
- No HSBC current account required.
Website: HSBC Business Loans
Read the full HSBC Business Finance review.
5. Lloyds Bank
- Borrow from £1,000 to £50,000.
- Unsecured options available.
- Interest rates can be fixed or linked to the Bank of England base rate.
- Repay over 1-10 or 1-25 years.
- 5.1% APR Representative (fixed or variable).
Website: Lloyds Bank Business Loans
Read the full Lloyds Bank Business Finance review.
6. Metro Bank
- Business loans from £2,000 to £25,000.
- Loans can be unsecured depending on your business’ circumstances.
- Repay over 1 to 5 years.
- 9.6% APR (fixed).
- Zero fees.
- Interest is calculated daily and charged monthly.
- You can only apply in branch.
- Branches located throughout England, but not Wales, Scotland or Northern Ireland.
Website: Metro Bank Business Loans
Read the full Metro Bank Business Finance review.
7. NatWest
- Borrow from £1,000 up to £50,000.
- Unsecured available. A personal, director or members guarantee is needed.
- Repayment over 1-7 years. Up to 10 years available on request.
- Fixed interest rates so monthly repayments stay the same.
- No arrangement fees.
- Existing customer’s applications processed first.
Website: NatWest Business Loans
Read the full NatWest Business Finance review.
8. TSB
- Borrow from £1,000 up to £1,000,000.
- Unsecured options available.
- Both fixed rate and base rate linked loans available.
- Repay over 1 to 25 years.
- 9.94% APR representative (fixed).
- Repayment holidays are optional.
- Arrangement fee of up to 1.5%.
- Both sole traders and small business owners are eligible.
Website: TSB Business Loans
Read the full TSB Business Finance review.
9. Royal Bank of Scotland
- Loans from £1,000 to £50,000.
- Unsecured loans available. A personal, director or members guarantee is needed.
- Repay at a fixed monthly interest rate.
- No arrangement or early repayment fees.
- Repayment over 1 to 7 years (up to 10 years available on request).
- Existing customers will get faster approval.
Website: Royal Bank of Scotland Business Loans
Read the full Royal Bank of Scotland Business Finance review.
10. Ulster Bank
- Open to businesses trading in Northern Ireland only.
- Unsecured options available.
- Borrow £1,000 to £25,000.
- Repay over 1 to 10 years.
- Arrangement fee of £150 for loans up to £15,000.
- Flexible repayments rates linked to the Ulster Bank base rate.
- Existing Ulster Bank customers could be eligible for a repayment holiday.
Website: Ulster Bank Business Loans
Read the full Ulster Bank Business Finance review.
11. Yorkshire Bank
- Borrow £1,000 to £25,000 fixed or £25,000+ on flexible terms.
- Unsecured borrowing options available.
- Fixed or flexible repayment options.
- Repay up to 5 or 15 years, depending on the terms of the loan.
- Arrangement fees may apply.
Website: Yorkshire Bank Business Loans
Read the full Yorkshire Bank Business Finance review.
12. 365 Business Finance
- Merchant Cash Advance only.
- £5,000-£200,000 available unsecured.
- Repayment through a percentage of your customer card transactions.
- Flexible repayments depending on how much cash is processed through your business.
- Your business’s average monthly credit and debit card turnover must be at least £5,000.
Website: 365 Business Finance Business Loans
Read the full 365 Business Finance review.
13. ABC Finance
- Finance broker, not a direct lender.
- Various unsecured loans available.
- Borrow from £5,000 to £250,000.
- Rates from 1.90%.
- Repayments over 6 months to 5 years.
- Some loans can be completed in 5 days.
Website: ABC Finance Business Loans
Read the full ABC Finance review.
14. ArchOver
- Investment broker, not a direct lender.
- Borrow from £100,000.
- Unsecured lending specifically for R&D tax claims, Creative Tax Relief Claims and Grant Receipts.
- Repayment from 3 months to 3 years.
- Interest from 9.50% p.a.
- No personal guarantee needed.
- No equity dilution.
Website: ArchOver Business Loans
Read the full ArchOver Business Loans Finance review.
15. Aspire Business Loans
- Finance broker, not a direct lender.
- Search and compare 80 lenders for free with no impact on your credit score.
- Unsecured loans from £5,000 to £300,000.
- Repayment periods from 1 to 5 years.
- Same day decisions available depending on the lender.
Website: Aspire Business Loans
Read the full Aspire Business Loans Finance review.
16. Capify
- Unsecured loans from £5,000.
- Repay through a percentage of your takings.
- No fixed repayments.
- Suitable for businesses trading for over 12 months.
Website: Capify Business Loans
Read the full Capify Business Finance review.
17. Catalyst
- Commercial business loans between £25,000 and £1 million.
- Repay over 3 to 12 months.
- Fixed monthly repayments.
- Security needed in the form of Debentures and Personal Guarantees.
- Both sole traders and limited companies are eligible.
Website: Catalyst Finance Business Loans
Read the full Catalyst Business Finance review.
18. Cubefunder
- Unsecured financing between £5,000 – £100,000.
- Can be used for any business purpose.
- No late payment charges or early repayment fees.
- Flexible repayment options.
- Eligible for businesses trading for at least 3 months.
- Apply online.
Website: Cubefunder Business Loans
Read the full Cubefunder Business Finance review.
19. Esme Loans
- Unsecured loans up to £250,000.
- Borrow from 1 to 5 years.
- 8.73% Representative APR (Fixed).
- Esme is a signatory to the UK Government’s SME Finance Charter.
- Created by NatWest.
Website: Esme Business Loans
Read the full Esme Business Finance review.
20. Fleximize
- Unsecured loans available from £5,000 to £500,000.
- Repay over 3 months to 4 years.
- Rates of 0.9-3.9% per month.
- Top-ups and repayment holidays available.
- Get a decision in 24 hours.
Website: Fleximize Business Loans
Read the full Fleximize Business Finance review.
21. Funding Circle
- Borrow £50,001 to £500,000 unsecured.
- Rates between 1.8%-7.0%.
- Repay over 2 to 5 years.
- Decisions usually within 24 hours.
- Check if you qualify online in 30 seconds.
- No early repayment fees.
- ‘Excellent’ Trustpilot rating.
Website: Funding Circle Business Finance
Read the full Funding Circle review.
22. Huddle Capital
- Peer to peer platform connected investors and to businesses.
- Loan amount confirmed on application based on what your business needs and can afford to repay.
- Your proposal will be added to the P2P platform for investors to choose.
- Repayments begin when your loan is fully funded.
- Weekly repayments.
- Principal payment applies.
Website: Huddle Capital Business Finance
Read the full Huddle Capital review.
23. Iwoca
- Borrow from £1,000 to £200,000.
- Repay over 12 months.
- Flexible loan.
- Dedicated account manager.
- Decision in 24 hours.
- ‘Excellent’ Trustpilot rating.
Website: Iwoca Business Finance
Read the full Iwoca review.
24. PFC Finance
- Broker with a panel of 60 lenders. Not a direct lender.
- Unsecured commercial loans.
- Borrow £5,000 to £1 million+.
- Repay over 3 months to 5 years.
- Same day decisions available.
- Dedicated account manager.
- Funds can be released in 24 hours.
- Finance for improving working capital, expansion, refurbishment, and more.
Website: PFC Finance
Read the full PFC Finance review.
25. Rangewell
- Business loan aggregator. Not a direct lender.
- Unsecured loans up to £250,000.
- Rates from 4.9%.
- Fixed monthly payments.
- Repay over 1-60 months.
- Easy online applications.
- Approval waiting times will vary depending on the lender.
Website: Rangewell Business Loans
Read the full Rangewell Business Finance review.
26. rebuildingsociety.com
- Peer to peer lending platform. Funds provided by lenders investing in the platform.
- Borrow £25,000 to £250,000.
- Interest rates from 5%.
- Unsecured loans available.
- Decision within 24 hours where possible.
- Online application.
Website: rebuildingsociety.com Business Finance
Read the full rebuildingsociety.com review.
27. Satellite Finance
- Finance broker that can connect you to 40 lenders.
- Unsecured loans available.
- Amount and repayment terms depend on lender.
- Payment can be within 24 hours.
- Commercial loans can be used for any business purpose.
Website: Satellite Business Finance
Read the full Satellite Finance review.
28. Spotcap
- Currently not accepting new applications during Coronavirus crisis.
- Unsecured loans available up to £350,000.
- Headquartered in Berlin
Website: Spotcap Business Finance
Read the full Spotcap review.
29. Starling Bank
- Unsecured loans of £5,000 to £250,000.
- Repaid over 1-5 years.
- Open to businesses trading for more than 18 months.
- Must have a Starling Bank business current account to qualify.
- Loans up to £25,000 have a representative rate of 7% APR (fixed).
- 24/7 online customer service.
- Personal guarantee required from all directors/partners in the business.
- ‘Excellent’ Trustpilot rating.
Website: Starling Bank Business Finance
Read the full Starling Bank business loans review.
30. Startup Loans
- Part of the Government-backed British Business Bank.
- Open to new businesses that have been trading for up to 24 months.
- Borrow up to £25,000.
- Fixed interest rate of 6% per annum.
- Repayment over 1-5 years.
- Includes 12 months of free mentoring.
- No set up or early repayment fees.
Website: Start-up Loans Business Loans
Read the full Start-up Loans Finance review.
31. White Oak UK
- Borrow £2,000 to £500,000 unsecured.
- Repayment over 3 months to 5 years.
- Short term loans and longer term business development loans available.
- Funds can be released within 24 hours.
- Interest only loans available over 3 months.
- Feefo Platinum Trusted Service Award 2020.
Website: White Oak UK Business Finance
Read the full White Oak UK review.
32. Intelligent Loans
- Loans from £10,000 to £250,000.
- Short and long term loans available.
- Repayment over 3 months to 5 years.
- Unsecured loans available.
- Part of the 1pm plc group.
Website: Intelligent Loans Business Finance
Read the full Intelligent Loans review.
33. Just Cash Flow
- Unsecured loans from £10,000 to £85,000.
- Repay over 12 months.
- Choose from flexible interest only or capital and interest loan repayment options.
- 3 month repayment holiday available at the start of the loan.
- Debt can roll over into a revolving credit facility after 12 months.
- ‘Excellent’ TrustPilot rating.
Website: Just Cash Flow Business Finance
Read the full Just Cash Flow Loans review.
34. inFund
- A live multi-drawdown credit facility.
- Access £3,000 to £150,000 unsecured.
- Repayment terms up to 24 months.
- Fast decisions and funding in 24 hours.
- Interest rates from 12.99% APR.
- Open to small businesses with 6 months’ of accounts and an annual turnover of at least £60,000.
Website: inFund Business Loans
Read the full inFund Business Finance review.
How do unsecured business loans work?
Unsecured business loans are very similar to an unsecured personal loan. If your business needs a cash boost you can apply for a business loan and then repay the amount plus interest over a set period, whether that’s a few months or several years. An unsecured loan isn’t secured on any of your business’ assets, but some unsecured loans still ask for a personal guarantee from you as the business owner, so always read the details carefully.
How much can my business borrow?
How much a business can borrow depends on the lender, its terms, and your circumstances. Unsecured loans are usually for lower amounts than secured loans. If you want to borrow more, securing the loan on property or assets might be your only option. If you’re happy to borrow a lower amount you can shop around several unsecured options to find the best deal.
How much will an unsecured business loan cost?
Interest rates can be fixed or flexible. Fixed means your repayments are the same every week or month, and flexible means they can be different. If your unsecured loan is fixed the repayment amount will be agreed up front with the lender. To find out what the average borrower pays, check the representative annual percentage rate (APR). This isn’t necessarily the rate you’ll get but it’s a good way to estimate the average costs before you apply. If this isn’t advertised you might be able to check your eligibility with the lender for free instead.
Business loans sometimes have extra fees for set-up and early repayment. The lender will state these fees upfront too so always check the terms of the loan and the small print so you stay informed.
How long can I borrow money for?
Short term unsecured loans are usually repaid within 3 to 12 months. A long term loan will usually be repaid over 5-7 years. The big high street banks often allow longer agreements of 10, 15, or 25 years.
How do I apply for an unsecured business loan?
If you find a lender that offers good terms for an unsecured loan you can usually apply online. This is usually quick and convenient with minimal paperwork. Sometimes you can get a decision within just 24 hours, but it often takes a few days.
Some lenders don’t accept direct applications so you’ll need to work with a business finance broker or apply through a broker’s online platform. A broker will find appropriate business loans for your business and make the application on your behalf. This can sometimes involve an extra fee.
* Please note we have an affiliate relationship with Capital On Tap, which means we get paid if you open an account with them. This comes at no cost to you.