Business Growth Loan
For Businesses Trading over 5 Years, Looking to Get to the Next Step
Check eligibility
in 20 seconds
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Borrow between
£10,000 - £250,000
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Business Loans for Growth in the UK
As a business owner in the UK, expanding your company often requires access to additional funding. Whether you’re looking to hire more staff, invest in new equipment, increase inventory, or take advantage of a growth opportunity, a business loan could be the ideal solution to support your long-term success. With the right financial support, you can scale your business, enhance operations, and compete effectively in your market.
Business Loan Criteria
To qualify for a business loan in the UK, your company must meet a few essential criteria. Most lenders require the following:
- Trading History: Your business must have been trading for at least 12 months. This ensures you have a track record that demonstrates business stability and viability.
- Annual Turnover: Your business should generate a minimum turnover of £120,000 per year (or £10,000 per month). This threshold ensures your business can handle the repayment obligations that come with a loan and demonstrates your capacity to grow sustainably.
Why Business Loans are Essential for Growth?
For businesses looking to expand, funding is often a critical component of success. Here are some key ways a business loan can support your growth:
Expand Operations
Whether you need a larger office, more warehouse space, or additional retail locations, a loan can provide the funds to support your expansion goals.
Hire Additional Staff
As your business grows, you may need to hire more employees. A loan can help cover the costs of recruitment, salaries, and training, enabling you to scale your team to meet rising demand.
Invest in Equipment and Technology
Upgrading to the latest technology or purchasing new machinery can improve efficiency and productivity. A business loan can give you the capital required to make these investments without depleting your cash reserves.
Increase Inventory
Expanding your product range or stock levels to meet growing customer demand can be costly. A business loan ensures you can purchase inventory without straining your cash flow.
Boost Marketing Efforts
Expanding your reach requires investment in marketing, whether through digital campaigns, advertising, or brand promotion. A business loan allows you to fund these initiatives effectively, helping you attract new customers and drive sales.
Benefits of a Business Loan for Growth
Taking out a business loan for growth offers a range of benefits:
Immediate Access to Capital
A loan provides an immediate injection of capital, allowing you to seize opportunities or invest in growth without waiting to accumulate savings.
Flexible Repayment Options
Many lenders offer flexible repayment plans, allowing you to choose a repayment structure that aligns with your business cash flow.
Boost Competitive Edge
Access to funding allows you to stay competitive, whether it’s by upgrading technology, improving your product range, or expanding into new markets.
Build Business Credit
Successfully repaying a business loan can improve your business’s credit score, making it easier to secure future financing on even better terms.
How to Apply for a Business Loan
If your business meets the eligibility criteria of trading for over 12 months and generating a turnover of more than £120,000 per year, you’re well-positioned to apply for a business loan. The application process typically involves:
Check if you qualify first.
Fill out our 2min online application form.
An account manager will then email you with any info we need - usually the last 6 months business bank statements and the most recent full set of year end accounts.
Once received, they put the application before the underwriting and credit team who should give you a decision within a few hours.
Ready to Grow Your Business?
If you’ve been trading for over 12 months and have a turnover exceeding £120,000 annually, a business loan could be the key to unlocking your growth potential. Whether you’re expanding your operations, investing in new equipment, or increasing your staff, a tailored loan solution can provide the financial boost you need to take your business to the next level.
Apply today and start driving your business growth!
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