Barclays is one of the most popular banks in the UK. It offers competitive business loans, among other financial products and services. Here’s a summary of the business loans on offer.
For many years, Barclays Bank has been a fixture of international finance. It was founded in 1690 in Manchester, UK.
For small and medium-sized businesses that need financial investment to grow and scale their operations, Barclays offers a number of loans designed to help companies achieve that aim. Repayment terms can be up to 20 years, and there are options for repayment holidays, although interest will still be accrued during these periods.
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Barclays business loan options
Here, we outline the different types of business loans available from Barclays.
- Small Business Loans. These are unsecured loans that allow you to choose your payment term. They come with fixed interest rates and the option of a six-month repayment holiday. However, interest will still be accrued during these periods.
- Medium Business Loans. These secured loans allow you to choose repayment terms of up to 20 years. They also come with either fixed or variable rates of interest and the option of 12 months of interest-only repayments.
Key features of Barclays business loans at a glance
Barclays Bank business loans can be a good financial stepping stone for businesses that want to go to the next level.
Interest rates can be fixed or variable, depending on the loan. The rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from what’s advertised.
Am I eligible for a Barclays business loan?
If you choose to apply for a Barclays Bank business loan, Barclays will need to see the following:
Personal criteria that you must meet:
Barclays Bank states that these business loans must never be used for personal purposes – they’re for business development purposes only.
How can I apply?
To apply for a Small Business Loan, go to the Barclays website. Once there, you can either make an application or follow a series of steps to see if you are eligible. To apply for a Medium Business Loan, you will need to make a phone call. The numbers are below.
Frequently asked questions