Sometimes you need a little boost to get things going. If your business needs a cash injection our Business loans can help. Whatever you need the money for, we offer a range of terms, so we can help you find the best option for your business.
Borrowing less than £25,000? You’ll get a fixed rate of 10% APR (Fixed). We’ll agree a rate with you for bigger loans...
With loan terms from 1 to 5 years, you can choose the loan that’s right for your business.
If you’re borrowing less than £25,000 you won’t pay arrangement fees. For bigger loans, it’s 1.75% of the loan amount.
Just pop into a store and see your Local Business Manager, or give us a call on 0345 08 08 508.
We’re up front with our customers about everything. We’ve created this handy summary of our Business Loan key features so you can see the important information from the get-go.
|Loan||Interest rate||Loan term||Arrangement fees||Other fees we may charge|
|Under £25,000||10% APR fixed||1-5 years||Zero||None|
|Over £25,000||Tailored to each loan||1-5 years||Max 1.75% of loan amount||Security, valuation, legal and/or admin|
APR stands for annual percentage rate. It’s intended to give you a more accurate idea of how much you are being charged when you borrow money. It takes into account the interest on the loan and other charges you have to pay, for example any arrangement fee.
Interest is calculated daily and charged monthly. Your annual statement will show how much interest you have paid and when.
These representative examples show how much you’d repay each month for a particular loan, and how much you’d repay in total.
|Loan Amount||Term||Representative APR||Fixed Interest Rate||Monthly Repayments||Total Payable|
If you’re thinking about buying business property, equipment, or simply refinancing, come into a store and talk to your Local Business Manager about a loan. We’ll make a decision on lending to you depending on your financial status.
You’ll need to have a Metro Bank Business Bank Account, Commercial Current Account, Community Current Account, Business Start-Up Account (account no longer available) or a Business Switcher Account (account no longer available) to apply for a Business Loan, and we may need some security.
Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on a loan or other debt secured on it.
Download our PDF to read when you like - it contains all the ins and outs of our Business Loans.
No. You’ll need to have a Metro Bank Business Bank Account, Commercial Current Account, Community Current Account, Business Start-Up Account (account no longer available) or a Business Switcher Account (account no longer available) to apply for a Business Loan, and we may need some security.
Find out about our Business Current Accounts
Security may be required for a Metro Bank Business Loan – but each application is decided on an individual basis. We may ask you for one or more types of security, for example a guarantee and indemnity from a third party / group entity / from directors or members of the borrower, or security over property such as land or a bank account.
The security we will require for your loan will be decided on a case-by-case basis.
Asset Finance is an alternative kind of business loan that can only be used to buy capital equipment. It includes hire purchase and finance leasing options to fund the purchase of business assets, typically plant and machinery, yellow goods, commercial vehicles and trailers, or cars and vans.
Business loans can be used for things other than capital equipment as well – for example spreading the cost of a large tax bill.
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