Which business loans are you eligible for?

Yes. The Government Startup Loan scheme offers up to £25,000 regardless of current revenue — it is assessed on your business plan and trading potential. Some alternative lenders also fund businesses with as little as £2,000 per month in revenue, particularly if you have consistent card-based sales (merchant cash advance) or B2B invoices (invoice finance).

The four main factors are: business age, monthly revenue, credit profile, and your loan-to-revenue ratio. Our approval probability score is calculated across all four. A high score (75+) suggests mainstream lenders will likely approve you. A lower score suggests specialist or government-backed routes are the better starting point.

Fintech lenders like Iwoca and Tide can approve and fund within 24 hours for smaller amounts with strong profiles. High street banks typically take 2 to 4 weeks. The Government Startup Loan scheme takes 2 to 4 weeks including business plan review. Asset finance and invoice finance are often arranged within 3 to 7 days.

For the Government Startup Loan, yes — a business plan is required. For commercial lenders, 3 to 6 months of bank statements and management accounts are typically more important than a formal plan. However, a clear written summary of why you need the funds and how you will repay them strengthens any application.

Unsecured business loans typically go up to £500,000. The Recovery Loan Scheme allows up to £2m with a government guarantee. Secured lending against property can go significantly higher. Most lenders offer 1 to 2 times annual turnover for unsecured lending. Our borrowing power calculator shows your realistic range based on your revenue and credit profile.

A merchant cash advance is a revenue-based funding product where you receive a lump sum and repay it as a percentage of your daily card takings. There are no fixed monthly payments — repayments flex with your revenue. This makes it accessible to businesses with irregular income but requires consistent card terminal use. Effective rates are typically higher than term loans.