Business Loan Calculator

A business loan provides a lump sum of capital that you repay over a fixed term with interest. Monthly payments are typically fixed, making budgeting easier. Funds can be used for any business purpose including equipment, vehicles, expansion, or working capital.

Business loan amounts typically range from £5,000 to £500,000 depending on your turnover, business age, and creditworthiness. Most tradesmen borrow between £15,000 and £75,000 for equipment, vehicles, or expansion.

Your interest rate depends on several factors: business trading history, annual turnover, credit history, loan amount, and loan term. Established businesses with strong turnover typically receive the best rates.

Most business loan decisions are made within 24-48 hours. Once approved, funds are typically in your account within 3-5 business days, though some lenders offer same-day funding.

Most business loans allow early repayment, though some may charge an early settlement fee (typically 1-2 months interest). Check the specific terms before signing. Paying early can save significant interest.

Typically you'll need: 3-6 months of business bank statements, proof of identity, proof of business address, and details of any existing debts. Limited companies may also need recent accounts.