Conister Bank business loans

Founded on the Isle of Man in 1935 (initially as a car loan provider) Conister Bank is a direct lender, authorised and regulated by the Financial Conduct Authority, offering business loans to SMEs based on the Isle of Man and across England and Wales. It is wholly-owned by Manx Financial Group PLC (MFX), which is listed on London’s AIM market.

It’s not possible to apply online for a Conister Bank business finance product, but you can phone or email to arrange a chat with a personal adviser.

Tide Start-up Loan

• £500 to £100,000
• 12 to 60 months
• Cashflow forecasting through Tide Connect

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Loan options

Conister Bank prides itself on not having any off-the-shelf loan options or specific products. Rather than taking a “computer says no” approach, it underwrites each loan individually, which theoretically allows it to take the time to really understand your business. If you’ve been turned down for credit by the mainstream banks before because of a lack of assets for security or long-term accounts, Conister Bank could be worth a look.

As well as traditional business loans, Conister Bank offers a range of business finance services that includes:

• Retail finance (allowing businesses to offer customers a credit facility to help with the sale of larger items)
• Commercial asset finance
• Agriculture Finance (including asset, fertiliser and livestock finance)

Key features of a Conister Bank business loan

• Individual decisions. Conister Bank says it prides itself on delivering a personal service. An adviser will create a tailored loan to suit the needs of your business.
• No online account management. At the time of writing, it’s not possible to apply through the website or track the progress of your loan online. Conister Bank prefers to meet you personally and talk over your loan over the phone. You’ll need to decide if this more traditional approach is right for you and your business.
• No need to be an existing customer. Conister Bank does not require you to have a current account with it to be considered for a business loan.
• No upfront fees. Conister Bank offers transparent interest rates with no application fee.

The interest rate you are offered will depend on factors like the amount you apply for, the term of the loan, the performance of your business and its credit rating. This may differ from the advertised “Representative APR”.

Am I eligible for a Conister Bank business loan?

You should only apply for a Conister Bank business loan if you’re certain you can meet the repayment terms. You must also:

• Be aged 18 or over.
• Require the loan for business use.
• Be based in England and Wales (including the Isle of Man).

How can I apply?

At the time of writing, it’s not possible to apply online. However, you can request a callback through an online form. You can then talk through your loan options with an adviser.

Frequently asked questions

• Is there a fee for applying for my loan?

  No, Conister Bank doesn’t charge application fees on loans.

• How can I apply?

  You can apply by phone or, if you are based on the Isle of Man you can visit the Conister Bank branch.

• What sort of businesses does Conister Bank fund?

  Conister Bank will consider SMEs from all industry sectors. Examples would be a tradesman needing a new van or equipment, a local bakery needing a new oven to be able to serve more people, or a small engineering firm in need of specialist equipment to cope with demand.