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Choose from five types of Commercial Funding
Barclays currently has four types of commercial funding to choose from. These include secured and unsecured business loans, commercial mortgages, credit and charge cards and asset finance. A Barclays business loan includes a competitive APR and unsecured borrowing up to £100,000.
Barclays business loans are not available for all industries. Any property used as security maybe repossessed if you do not keep up repayments on your loan. For more information, visit Barclays official website.
Key features of Barclays business loan
Barclays loans currently offers flexible borrowing, with options including secured and unsecured business loans. A Barclays business loan allows small to medium businesses to
Apply for unsecured borrowing up to £100,000
Option to choose your term up to 10 years unsecured and 20 years secured
Fixed or variable interest rates
Option to take a six-month repayment holiday once you have started your business loan.
Barclays plc is a multinational investment bank and financial services company. They are split into four core businesses; personal banking, corporate banking, wealth management and investment management.
About Barclay’s Business Loans
Barclays range of commercial finance options allows you to adapt your loan to suit the needs of your business, with their team of experts on hand to provide support when you need it most.
Barclay’s unsecured business loans are flexible for those looking to expand or get their business off the ground. Since 2018, Barclays now offer unsecured business loans up to £100,000. Once approved, you will have the money in your account within 48 hours of signing the paperwork. If you need less than £100,000 and already have a provisional lending limit, you will usually receive your money within 24 hours; once your application is accepted.
For secured business loans, Barclays are able provide commercial funding up to £25,000. What’s more, Barclay’s secured business loans offer a fixed or variable rate, with longer repayment periods and capital repayment holiday.
In addition to this, Barclay’s also provides commercial mortgages for businesses looking to move or expand. Barclays commercial mortgages offers fixed interest rates from 1 to 10 years, with the option to switch from a variable rate loan to a fixed-rate loan. Please note that Barclays commercial mortgages do come with prepayment fees, should you repay all or part of your loan before the expiry of the agreed term.
Barclays asset finance allows businesses to spread the cost of new purchases without using cashflow. Asset finance provides a flexible alternative to traditional debt finance, with funding available from £10,000 and up to 5 years. However, in order to apply for Barclays asset finance, you must have a 12-month account with them and an purchasable asset that is tangible, identifiable and removable.
Barclays business credit card, also known as Barclaycard, offers a range of credit and charge cards that allows businesses to effectively manage cashflow. Cards include, premium plus credit card, select credit card, flex credit card, select charge card and premium plus charge card. They also offer a Barclays business debit card to help manage daily expenses.
Barclays Contact Info
Barclays Bank UK PLC and Barclays Bank PLC are each authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Barclays offer a variety of introductory offers to new customers. They also provide a variety of extras on selected products, including travel insurance and no fees for 12 months.
How to Apply
If you’re ready to apply for a Barclays business loan, you’ll need to provide some information about you and your business. This will include
Your business plan, trading accounts and details of profits and loss.
A detailed plan on why you need the loan and how you are planning on using the funding.
Barclays aim to provide a full decision on your application within a few days, but may need additional information to make a fully informed decision. Each business loan taken out through Barclays is subject to normal lending assessment, status and application. Terms and conditions apply.
Frequently Asked Questions
What types of commercial funding does Barclay’s offer?
Barclays offers four types of commercial funding, including secured and unsecured business loans, commercial mortgages, credit and charge cards and asset finance.
How long does a Barclays business loan take?
Once your loan application is accepted, Barclays will have the money to you within 48 hours. They can also get the money to you within 24 hours for secured loans under £25,000.
Does Barclays offer business loans to all industries?
As of January 2020, Barclay’s does not offer business loans to all UK industries. All applications are subject to normal lending assessment, status and application. For more information about which industries are eligible to apply, contact Barclays.
Where are Barclays business loans available?
Barclays currently provide business loans in England, Northern Ireland, Scotland and Wales. Barclay’s business loan and commercial finance products are unavailable outside the UK.
Can I check my eligibility before I apply?
When you take out a Barclays business loan, they can let you know upfront whether you are likely to get the commercial funding you want with no impact on your credit rating. If you already bank with Barclays, you can log in and see your eligibility before you apply.