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Base Rate Loan
Features and benefits
- Get a quote online in minutes (your credit rating will not be affected).
- 9.0% APR1 (variable) representative*
- No arrangement fees for loans up to £25,000
- Borrow from as little as £1000
- 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
- Read our charter to find out how we're committed to lending to businesses.
Representative example: 9.0% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £164.71 at an annual interest rate of 8.65% (variable). Total amount payable £9,882.60
*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.
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, resulting in your monthly repayments increasing or decreasing.
For loans above £25,000 an arrangement fee will apply and is related to the amount you choose to borrow. These terms will be discussed with you before you take out the loan.
1Annual 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.
To enquire about this loan, you must:
- Require the loan for business use.
- Apply for a minimum of £1,000.
- Be a sole trader, partner or director with authority to borrow on behalf of your business.
- Be aged 18 or over.
One of our business management team will be happy to speak with you about your application. 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.
For loans above £25,000 an arrangement fee will apply and is related to the amount you choose to borrow. These terms will be discussed with you before you take out the loan.
| Amount of borrowing | Arrangement Fee |
|---|---|
| Up to £25,000 | £0 |
| £25,001-£1m | 1.50% |
You will be provided with terms & conditions during the application process.
Fixed Rate Business Loan
Fixed monthly payments can help you to plan your finances with more certainty.
Loans and finance
Our lending products are flexible enough to accommodate almost any business plan.
Commercial Fixed Rate Loan
A fixed interest rate during the fixed rate period, so you’ll know exactly what repayments will be each month.
How to apply or enquire for any of our loans
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.
Existing customers looking to borrow up to £10,000
For our Business Loans up to £10,000 it is now easy to apply online by logging on to Business Internet Banking and clicking ‘apply’ on the left hand menu. If eligible, you’ll get an approval in principle decision in minutes.
Looking to borrow over £10,000 or new customers
If you are looking to borrow over £10,000 or are a new customer complete our online enquiry form and we’ll contact you to discuss your business needs. If you would prefer to talk to our business management team, call us on 0345 072 5555. Lines open 7am to 8pm Monday to Friday and 9am to 2pm on Saturday, except on UK bank holidays.
Busting the lending myths
Answering some common misconceptions associated with business lending.
