Love Finance business loans review

We take a closer look at the business loans offered by Love Finance to see if they could work for you. Loans amounts from £5,000 to £250,000.

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Love Finance business loans comparison

Love Finance business loans

Name Product Finder Score Loan type Loan amounts Loan terms Turnover/trading criteria Key benefit
Love Finance business loan
3.8
★★★★★
Fixed rate loan
£5,000 to £250,000
No specified loan terms
£10,000 (subject to loan type) annual turnover,
3 months trading
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Other popular business loans comparison

Name Product Finder Score Loan type Loan amounts Loan terms Turnover/trading criteria Key benefit
iwoca Flexi-Loan
3.8
★★★★★
Variable rate Unsecured loan
£1,000 to £500,000
1 to 24 months
£25,000 annual turnover,
6 months trading
Your business loan rate varies based on your circumstances. Interest applies only to your outstanding balance on days you use the loan – there are no early repayment fees. Limited companies only.
Representative example: Borrow £10,000 over 12 months at a rate of 40% p.a. (variable). Representative APR 49% and total payable £12,294.
Portman Finance Business Loan
3.9
★★★★★
Fixed or variable rate Asset finance loan
£10,000 to £2,000,000
3 to 72 months
£100,000 annual turnover,
1 year trading
Representative example: Borrow £30,000 over 3 years at a rate of 7.26% p.a. (fixed). Total payable £36,537.84 in 36 monthly repayments of £1014.94.
iwoca
3.8
★★★★★
Variable rate Unsecured loan
£1,000 to £500,000
1 to 24 months
No specified minimum turnover or time trading
Your business loan rate varies based on your circumstances. Interest applies only to your outstanding balance on days you use the loan – there are no early repayment fees. Limited companies only.
Representative example: Borrow £10,000 over 12 months at a rate of 40% p.a. (variable). Representative APR 49% and total payable £12,294.
Nest Unsecured Business Loan
4.0
★★★★★
Fixed rate Unsecured loan
£10,000 to £5,000,000
No specified loan terms
£200,000 annual turnover,
12 months trading
JD Capital Finance Unsecured Business Loan
3.8
★★★★★
Variable rate Unsecured loan
£10,000 to £500,000
No specified loan terms
£100,000 annual turnover,
12 months trading
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If you’re looking to borrow money as a business, you might be considering a business loan. Business loans typically enable you to borrow a sum of money that you then repay, plus interest, in regular instalments over a set term.

Business loans are a popular way to borrow as you can use the funds for whatever you need, whether that’s to pay for equipment or cover unexpected bills.

This review looks at the business loans on offer from Love Finance.

What is Love Finance?

Founded in 2012, Love Finance is a financial company based in Birmingham. It works with a range of lenders with the aim of helping UK businesses find the right type of loan or finance option for them.

Quick overview of Love Finance business loans

Minimum trading period 3 months
Loan terms Terms not specified
Loan amounts From £5,000 to £250,000
Minimum turnover £10,000 (subject to loan type)

What types of business loans does Love Finance offer?

Love Finance offers a variety of different loans and you can check your eligibility for each one on the Love Finance website. This won’t affect your credit score.

Loan typeFixed rate loan
Credit limits£5,000 to £250,000
Loan rate typeFixed
Funding speedReceive funds in 24 hours
Personal guaranteePersonal guarantee not required
Repayment holiday
Arrangement fee
Early repayment fee
More Info

Small business loans

Small business loans can be used for any commercial purpose, such as startup costs and equipment purchases, with interest rates starting from 2.9%. You’ll typically be able to borrow up to £250,000, with same-day funding available.

Unsecured business loans

With an unsecured business loan, you do not need to put up any collateral which means there’s no risk that you will lose your home or personal belongings if you cannot repay the loan.

Unsecured loans usually have higher rates than secured loans, but can be used for a range of business purposes. You’ll typically be able to borrow up to £500,000 and get funds within 24 hours.

Instant business loans

Instant business loans enable you to borrow up to £500,000, with same-day funding available in as little as 4 hours. This type of loan could be handy for unexpected expenses such as repairs or renovations. Interest rates start from 2.9%.

Limited company loans

Limited company loans are specifically designed for limited companies and enable them to borrow up to £500,000. Love Finance limited company loans are always unsecured, so you do not need to use an asset as collateral.

However, limited company loans often have higher interest rates and stricter repayment terms than other types of business loans. You will also need to have a business account to get a limited company loan with Love Finance.

VAT loans

A VAT loan is a type of tax loan that can be used to help businesses with their VAT payments. They are typically short-term loans that are repaid over 3–12 months. VAT loans can be useful for businesses struggling to pay their VAT bill on time, but they can also be used to finance other business expenses.

With Love Finance, you can borrow up to £250,000, but as VAT loans are short-term loans, the amount borrowed is usually lower. Interest rates can be competitive compared to other types of loan.

Merchant cash advance

A merchant cash advance works differently to a traditional business loan. They are often used by businesses that need quick access to cash and they are repaid through a percentage of future credit card sales. This means they don’t require monthly loan repayments and can be a good option for businesses that have fluctuating income. With Love Finance, you can borrow up to £250,000.

As well as the above loans, Love Finance also offers van finance and asset finance.

Am I eligible for a Love Finance business loan?

Exact eligibility requirements will depend on the type of business loan you’re applying for. But you’re more likely to be accepted if you have been trading for at least 12 months and you have good credit with no county court judgement.

There is usually a minimum turnover requirement too, but this will vary depending on the loan. For example, with a small business loan, you need to have a turnover of at least £50,000 a year. With an unsecured business loan, you need a turnover of more than £10,000 a month.

Love Finance application process

To apply for a Love Finance business loan, you’ll need to first get a quote on the website – this won’t affect your credit score. You will need to enter a few details about the amount you want to borrow and the type of business you have. You will also need to show proof of income and expenditure and perform some ID verifications.

Once your loan has been accepted you’ll need to sign some documents and the funds will then be transferred.

Love Finance customer reviews

Love Finance is highly rated on review site Trustpilot. It scores 4.9 out of 5, giving it an “excellent” rating based on over 420 reviews (updated February 2024).

Positive comments mostly focus on the quick and easy application process, the helpful customer service and excellent communication.

Customer support

To contact Love Finance’s customer support, you can either fill out an online form found on the website, or you can email at support@lovefinance.co.uk, or call Love Finance on 0800 086 9404.

Alternatives to business loans

If you’re not sure whether a business loan is right for you, there are other options to consider, including:

Businessman using a credit card in an airport lounge

A business credit card

A business credit card is a flexible way of borrowing funds and can be a useful way to manage cash flow.

Compare now

Asset financing

Asset finance

With asset finance, you can access business equipment, machinery and vehicles without the need to pay for them upfront.

Learn more

Businessman checking invoices

Invoice financing

Invoice financing enables you to borrow money based on what customers owe you, which means you’ll get paid faster.

Learn more

You can read more about these options in our guide.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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