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Base Rate Loan

Our Base Rate Loan is a flexible finance option that can be tailored to suit your short or long-term financial goals. It is linked to the Bank of England bank rate so the interest rate that you pay will change as the bank rate changes.

Features and benefits

  • Get a quote online in minutes (your credit rating will not be affected)
  • Borrow from as little as £1,000
  • Choose a term to suit your business needs
  • No early repayment costs
  • Interest rate varies with Bank of England Bank Rate
  • Loans available on a secured or unsecured basis
  • Capital repayment holidays of up to two years may be available
  • For loan amounts over £1 million, a part amortising option may be available
  • Read our charter to find out how we're committed to lending to businesses
  • 9.3% APRClose APRAnnual Percentage Rate (APR) is the total cost of the credit expressed as an annual percentage of the total amount of credit. It represents the actual yearly cost of credit over the loan term and includes not only the interest but also any other charges you have to pay, for example, an arrangement fee. The APR will vary depending on the loan amount and term.1 (variable) representative*

Representative example: 9.3% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £165.68 at an annual interest rate of 8.90% (variable). Total amount payable £9,940.80

*The representative APR is an illustration of the rate that the majority of customers will receive. If a loan is described as having a particular representative APR, then we expect to offer that rate or better to at least 51% of the applicants we accept. Other customers may get a different rate based on their individual circumstances.

Our representative APR applies to all unsecured loans with a borrowing amount of up to £25,000 for businesses with a turnover of up to £25 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only.

For all loans over £25,000, you will pay an arrangement fee of up to 1.5%2 on the amount of your loan. We will discuss full terms with you before any loan is taken out.

To enquire about this loan, you must:

  • Require the loan for business use.
  • Be a sole trader, partner or director with authority to borrow on behalf of your business.
  • Be aged 18 or over.

One of our relationship managers will be happy to speak with you about your enquiry. However, before you get in touch, please make sure you know:

  • How much you would like to borrow.
  • The purpose of the finance.
  • What time period you would like to make the repayments over.
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Loans and finance

Our lending products are flexible enough to accommodate almost any business plan.

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How to enquire

On the phone

Call us on 0800 022 4378 to talk to one of our relationship managers. We are available from 9am to 5pm Monday to Friday.

Can I borrow for my business?

See how likely you are to get a Business Loan or Overdraft. View indicative interest rates and repayment details. Try different options without affecting your credit rating.

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Enquire online

Completing our business loan calculator takes about 10 minutes. Once we receive your information, we’ll contact you to discuss your business needs in more detail.

Enquire onlineabout our Base Rate Loan

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A convenient way to help you decide which of our finance options could be right for your business.

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Appeals for borrowing. Business finance declined? You can ask for the decision to be reviewed.

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