Small business loans

At Liberis, we offer flexible alternatives to traditional small business loans for those in need: the Business Cash Advance and government-backed support under the Coronavirus Business Interruption Loan Scheme (CBILS). Our customers come to us to access the funding they need and pay us when they get paid – with payments taken via an agreed % of their card takings.

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What are small business loans?

Small business loans are one way in which small businesses can secure the financial support they need. These are cash loans much like a personal loan, except they are tailored specifically for covering business expenses like wages, stock or rent. With a small business loan, small businesses can borrow money at fixed interest rates with seamless monthly payments for the duration of the loan period.

A small business loan won’t suit everyone, however. Some small businesses might be seasonal, which means some months are busier than others. During quieter months, business owners can find it hard to meet their fixed repayment amount. There are also late fees, lengthy application processes, high APR and other charges with business loans that can cause unnecessary stress when trying to grow a business

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Simone Taylor
The Golden Lion

Trusted provider

  • Provided over £400m in funding

  • Funded over 16k business across the globe

  • Alternative Lender of the Year winner for two years running at the Credit Awards

Flexible payments

  • Pay us as your customers pay you. Paymments are made automatically via a small percentage of your customer card transactions

  • One, agreed upon cost that never changes

  • No hidden fees or penalties.

Ongoing support

  • You know your business; we know finance - that's why we always listen carefully to offer you the best finance deals for your needs

     

  • 9/10 of our customers actively recommend us to others

COVID-19: Can I get a small business loan if I've been affected?

We know that times are far from normal for small businesses right now.

Due to the restrictions imposed by the government, the impact on business owners has been huge. Scaling back, closing completely or investing in online sales solutions to keep operating as best you can – it’s put a massive strain on small businesses across the country.

With small businesses making up 99.9% of the UK business population, businesses like yours are essential to the economy – and it’s important you get the support you need. And that’s where Liberis can now help if you need a small business loan and don’t know where to turn.

We’re proud to be accredited under the Coronavirus Business Interruption Loan Scheme (CBILS) to provide loans to those in need. With fixed-term small business loans between £50,001 and £150,000, it is quick and easy to check if you’re eligible. And, if you’re approved, we aim to get your funds into your account fast. Why not find out more about government-backed loans from Liberis today?

Is a small business loan right for you?

For small businesses, securing finance can be a frustrating, time-consuming and tough process – especially when looking at traditional sources of funding. One concern that many business owners encounter is the time it takes to obtain the necessary funding from a bank. And this can especially be the case in times of critical need or economic shock.

In May 2017, secured bank lender Borro revealed slow bank lending was restricting the growth of small businesses. That situation isn’t improving either. Bridging Trends data for 2018 found the average bridging completion time for UK loans was 45 days, up from 43 days in 2017. 

As bridging loans are meant to be short-term funding solutions to “bridge” gaps in cash flow or debt, waiting more than 6 weeks for a small business loan simply isn’t practical for many SMEs.

It can be difficult to obtain traditional bank funding if your business has a less-than-ideal credit score too. Not only is any application subject to a stringent credit check, but a small business with a low credit score will have to pay high interest rates – if the application is accepted in the first place. No business can afford such uncertainty, which is why Liberis provides an alternative solution.

Small business loan alternatives from Liberis

A study by commercial data firm Dun & Bradstreet found that two-thirds (67%) of small businesses stated that availability of finance has had a major impact on their success. Banks are no longer the first port of call for a lot of business owners either. Only 42% of UK small businesses reported receiving small business funding from banks in 2018, which compares to well over half (58%) in previous years.

With business owners now in need of alternative small business loan solutions more than ever before, Liberis offers two options: the Business Cash Advance or government funding through the Coronavirus Business Interruption Loan Scheme (CBILS).

Our cash advance is a form of unsecured small business funding that is designed to help you secure the finance you need – while never putting your home at risk. From day-to-day business costs or supporting growth plans, our Business Cash Advance is tailor-made for small businesses. 

Meanwhile, CBILS support is now available from Liberis if your business is facing unprecedented challenges due to the Covid-19 pandemic. With small business loans available from £50,001 - £150,000, see if you’re eligible for government support through CBILS today.

Why choose Liberis for a CBILS small business loan or Business cash Advance?

One major benefit of us offering unsecured business finance is that you’ll never be asked to risk your home when you apply for a Business Cash Advance or CBILS loan. But it’s not the only reason to turn to us if you’re in need of a small business funding solution.

Your payments will be made automatically as a percentage of your card takings, which means you won’t have to worry about making a fixed payment each month. It’s all taken care of. This makes it perfect for seasonal businesses as they will pay less when business is quiet and more when they can afford to.

For businesses who qualify for CBILS support, the cost of finance is covered by the government for 12 months and there’s nothing to pay Liberis for the first three months. There are also 12- and 24-month loan terms available – depending on what suits you.

CBILS support isn’t available to everyone, unfortunately. This could be because seasonality can impact the monthly income of your business. Or you don’t normally take enough each month to meet the qualifying criteria. But this doesn’t mean you’re alone.

You could still be eligible for our Business Cash Advance. As payments to Liberis are based on a percentage of your monthly card takings, the amount that you’ll pay us each month depends on how much you earn – never leaving you short of cash.

Other reasons why our Business Cash Advance is a great finance option for small businesses are:

  • One clear cost which never changes
  • Get a tailored quote online without impacting your credit score
  • You keep 100% of your cash income
  • No fixed payment schedules
  • No late payments and no late payment charges payments to Liberis mirror your cash flow
  • No hidden fees or penalties

Why do I need a small business loan or funding

You can use small business funding from Liberis for many purposes relating to your business – including purchasing and/or replacing stock; covering dips in cashflow; upgrading/expanding a fleet of vehicles; or hiring and training employees.

If you’re applying for CBILS support from Liberis, please bear in mind this can be used for:

  • General operating capital
  • Investing in specific equipment or machinery
  • Acquiring/renewing licences
  • Securing quotas/entitlements to trade
  • Research and development
  • Purchasing another business within the UK
  • Growing an existing business within the UK
  • Covering existing internal/external finance

Can I apply for a small business loan alternative from Liberis?

Are you the owner of a small business and now trading for at least 4 months? Do you take £5k or more in customer debit/credit card sales every month? If the answer to both these questions is “yes”, then you can apply for our Business Cash Advance!

It is a superb finance option for any small business that may be finding it tough to obtain a small business loan from a bank for whatever reason – particularly those smaller businesses who are operating on a seasonal basis.

If you’re interested in applying for support through the Coronavirus Business Interruption Loan Scheme from Liberis, the eligibility criteria is slightly different. You can find out more with our CBILS frequently asked questions – or check the eligibility of your business now.

How do I apply for the Liberis Business Cash Advance?

If our Business Cash Advance is the alternative to conventional small business loans that you’ve been waiting for, it couldn’t be easier to start your hassle-free application!

Ready to go? You can get a no obligation quote online by providing a few details about you and your business.

Business stories

Here's what some of the small businesses we've funded have to say about Liberis Finance!