Loans

Newable Business Finance

Financing Type
Loan
Value
£26,000 - £150,000
Eligibility
- SMEs looking to grow their business, across a range of sectors - Finance is dependent on an assessment process
Description
Newable's mission is to make finance fairer, easier and more accessible and to offer a real alternative to traditional bank lenders and finance providers. Their highly flexible secured loans are payable over 1 to 5 years, which can be used for a wide range of purposes, including working capital, expansion capital, refinancing and more. Interest rates are linked to the Bank of England Base Rate and the rate will depend on the perceived risk of the loan (range from 9.75% above base rate to 15.75% above base rate). A one-off arrangement fee of 3% of the value of the loan is deducted from the disbursed amount.
https://www.newable.co.uk/funding.php

Start-up business loans, backed by British Business Bank

Value
£500 - £25,000
Eligibility
Must be a new business which has been trading for under 2 years.
Description
The UK Government is supporting start-up loans which have a fixed interest rate of just 6% per annum and the ability to borrow between £500 and £25,000, Start Up Loans offer an affordable source of finance to help new and early stage business owners bring their plans to life.
https://www.startuploans.co.uk/