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Commercial Business Loans
Do you need a Loan to fund the large-scale growth of your SME and are based in the South West? If so, our Commercial Business Loan could help you.
What are Commercial Business Loans?
Commercial Business Loans offer medium-term finance solutions for small businesses that need funding for large expenditures. Expansion and acquisition of assets can be a big hurdle for a lot of SMEs as they lack the financial equity needed for growth.
Commercial Loans help reduce these barriers to growth for SMEs by allowing them to gain access to large amounts of capital which they can then spread the repayment period over many years.
Typically, commercial business loans are available to SMEs that have been trading for over two years.
Our decisions are made by people, not computers, which means that we lend by looking at the bigger picture.
Our business managers provide support and guidance throughout the application process, and for the duration of the loan, to give our customers the best chance for success.
What can Commercial Business Loans be used for?
Oftentimes, when small businesses are presented with growth opportunities, they lack the upfront cash needed to progress. Commercial business loans are a great solution to enable your business to take advantage of its growth opportunities.
Commercial business loans are available for a variety of purposes, including working capital and cashflow, business acquisitions and deposits for commercial properties, operational needs, such as purchasing new equipment or machinery, and recruitment, including covering salaries for new starters.
How are Commercial Business Loans repaid?
Agreeing on repayment terms within a fixed timeframe helps the borrower to plan and budget. Repayment terms are agreed upon at the outset and are usually offered for up to 60 months.
Early repayment of the loan is often available, but some lenders may charge a penalty.
What security is needed for Commercial Lending?
Commercial business loans are unsecured and do not require tangible security, such as a charge over a property.
However, unsupported Personal Guarantees are typically required as well as a debenture from the company, which ranks behind existing charge holders.
Read more about Unsecured Business Loans
What are Personal Guarantees and Debentures?
Personal Guarantees are required so that in the instance that the business cannot repay the loan, the Borrower will become personally liable for the repayment of the loan.
Loans can be settled in full or by way of an arrangement to repay the loan over an agreed period of time. The Borrowers’ principal private residence is excluded from Personal Guarantees given to SWIG Finance.
Debentures are a charge against floating assets of a limited company. A debenture gives the lender some rights over these assets and also the ability to step in and run the company if necessary. Debentures given to SWIG Finance will rank behind existing charge holders.
The debenture will be registered at Companies House.
What are Personal Guarantees and Debentures?
Personal Guarantees are provided by the Borrower so that in the instance that the business cannot repay the loan, the Borrower will become personally liable for the repayment of the loan.
Loans can be settled in full or by way of an arrangement to repay the loan over an agreed period of time. The Borrowers’ principal private residence is excluded from Personal Guarantees given to SWIG Finance. Debentures are a charge against floating assets of a limited company. A debenture gives the lender some rights over these assets and also the ability to step in and run the company if necessary. Debentures given to SWIG Finance will rank behind existing charge holders.
The debenture will be registered at Companies House.
What are the benefits of SWIG Finance Commercial Business Loans?
- Offers a medium-term finance solution
- Tangible security not necessarily required
- Borrow £25,001 up to £250,000
- Repayment terms up to 60 months
- We can lend by looking at the bigger picture – what is the business planning to do, who is behind it as well as what the business has done
- An assigned local business manager to support your loan application – they will spend time talking to the business owner to really understand what their plans are and how they hope to achieve them.
- Ongoing relationship support for the duration of the loan – our Business Managers are there to talk to if the business owner needs some help and guidance.
We have Start Up Loans for businesses trading less than 3 years
Is my business eligible for a business loan?
The CBILS Scheme closed with effect from 31 March 2021. Learn more here.
Business Loan characteristics
- ✓ Loan value from £25,001 – £250,000
- ✓ Finance for working capital or growth (e.g. equipment)
- ✓ Tangible security is not required
- ✓ We are an accredited Growth Guarantee Scheme lender
- Terms & Conditions Apply
Security
- Fixed & floating debenture taken (ranking behind existing charge holders, if appropriate)
- Unsupported personal guarantees are typically required for business loans
Information required to apply for a business loan:
– Last 2 years' full accounts (if available)
– Most recent management accounts
– Cashflow forecast for a minimum of 12 months
– Last 6 months business bank statements
– Credit Report for all directors
Amount & Term
£25,001 – £250,000 repayable up to 60 months
Interest Charge
Charged at 12% ABR
Fees Arrangement
Fee of 5% charged at outset
“We chose to work with SWIG Finance because, unlike other lenders, at SWIG you can talk to a person. Ultimately, SWIG Finance were able to support our business by looking at the bigger picture – something which other lenders are not willing to do.”
Customer Testimonial, SME Business Owner
What funding sources are available?
SWIG Finance offers Business Loans to small businesses through its own ethically sourced capital and lends through a sustainable lending framework.
#SWIG Finance is also an accredited delivery partner for the British Business Banks Growth Guarantee Scheme, which means we will lend where tangible security isn’t available. For business acquisitions, SWIG Finance can explore a finance package that combines more than one loan product, where this is in the best interest of the customer
For businesses that have been trading for under three years, SWIG Finance also offers Start Up Loans through the government-backed Start-Up Loans Scheme. Loans range from £500 up to £25,000. These are personal loans for business use.
How to apply for a Commercial Business Loan?
To apply for a Business Loan, you will need to complete our online application form.
Information we will need to assess your loan request:
- Last 2 years’ full accounts (if available)
- Most recent management accounts
- Cashflow forecast for a minimum of 12 months
- Last 6 months business bank statements
- Credit Report for all directors
Apply now to take the next step in securing the funding your business needs.
Our Application Process
We assess each business on its own merit. To apply, please complete our online enquiry form below. Initial enquiries welcomed to establish suitability. Once we have received all the information we need to consider your application, the decision will be made as soon as possible.
Apply Now
If you’re ready to take the next steps, apply now!
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Got a question?
Give us a call today and we will answer any question you may have.
Is my Business eligible for a Business Loan?
Business Loan characteristics
✓ Loan value from £25,001 – £250,000
✓ Finance for working capital or growth (e.g. equipment)
✓ Tangible security is not required
✓ We are an accredited Growth Guarantee Scheme lender
Terms & Conditions Apply
Apply now to take the next step in securing the funding your business needs.
Do you need to borrow less than £25k?
We have Start Up Loans available for businesses that have been trading for less than 3 years.
Apply for a business loan now
Please complete the below enquiry form and a member of the team will be in touch.
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