Business Loans
Do you need funding to grow your Small or Medium Size Enterprise? We have business loans available for SMEs in the South and West Country.
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
Disclaimer: This repayment calculator is designed to outline the arrangement fee, monthly loan repayments and the total amount repayable for different loan terms. The actual amount payable may change depending on the agreed term and loan amount. We charge interest at 12% Above Base Rate (ABR). Base rate is currently 4.25%.
Terms and conditions apply, Credit is subject to status, affordability assessments and credit checks.
We have Start Up Loans for businesses trading less than 3 years
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!
Tips & How-To Guides
Here you will find practical tips and how-to guides.
Got a question?
Give us a call today and we will answer any question you may have.
How to apply for a 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.
What you can expect from us
- ✓ A personal 1-2-1 service from your dedicated business manager.
- ✓ Relationship-based contact from your dedicated business manager.
- ✓ A genuine interest in your business.
- ✓ A desire to see your business succeed.
- ✓ Support and guidance for the duration of your loan.
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.
Read more about our business loans requirements here.
What our customers say…
“We’re delighted to be supported again by SWIG for our second loan which has allowed us to take on two further Cyber apprentices and bolster our capabilities by adding a Commercial Manager – and we plan to take on two further apprentices early in the New Year.
The process with SWIG went smoothly and we were well supported and advised by the team there. Thanks to SWIG’s support we are accelerating our mission to help UK businesses open new markets and grow through cyber compliance certifications while protecting them from cyber-attacks – and creating new high-tech careers in Cornwall – one of the UK’s most economically challenged regions“.
Mark Faithful
Managing Director, Cool Water Cyber
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.
Frequently Asked Questions
You can see below the answers to our most frequently asked questions. If you have more questions, do not hesitate to contact us and we will be happy to help.
What is a business loan?
How much can I borrow and what will it cost me?
What are the advantages of a business loan?
Typically, business loan funding can be used to support working capital, as well as investment into resources and assets that will generate growth.
What will we need from you?
- Last 2 sets of full annual accounts, including detailed Profit & Loss Accounts
- Management accounts for the period since the most recent year-end to date
- Cashflow forecast for a minimum of 18 months, identifying the requirement for the business loan
- Agreement to Open Banking
- Credit Report for all directors
- Business Plan
- Details of any agreed outputs e.g. number of jobs created or safeguarded.
Can a Public Limited company apply for a business loan?
Are there any other fees?
Is a Debenture required?
How do I apply for a business loan?
Once you’ve submitted your application a member of the team will be in touch to take you through the next steps.
What are the risks of a business loan?
Will there be a credit check?
Please note, however, even if you do not have a perfect credit score, we may still be able to help you.
Am I eligible for a business loan with SWIG Finance?
- You must be 18 or over.
- Limited companies only can apply.
- You must be a business with a clear plan for the purpose of the loan.
- The business must be able to demonstrate viability and growth potential.
- The business must be based in the South West of England.
- Applicant businesses will typically have been trading for more than 2 years.
What can business loans be used for?
- Working capital
- Growth capital
- Operational expenses
- Recruitment or staff costs
- Purchasing Equipment
- Marketing
- Business Acquisition
- Net Zero Investment
Do we provide the Growth Guarantee Scheme?
Yes, we are an accredited lender under the Growth Guarantee Scheme (GGS) which means we will lend where tangible security isn’t available.
Visit our GGS webpage for more information.
Does the business loan require a personal guarantee?
What can I do if my business has been trading for less than two years?
Business Loan Uses:
If you need more information, have a look through our Business Loan Uses, to see what you can use our business loans for.