If your business needs investment to grow, Metro Bank could provide a loan of £2,500 to £25 million to help fund its expansion.
Metro Bank is a direct lender not a broker. It opened its doors in 2010, becoming the first high street bank to open in the UK in more than 100 years. It aims to bring the personal touch back into banking, with every “store” open seven days a week and no need to book an appointment.
Whether you’re starting a business or need a cash boost to take it to the next level, Metro Bank could help with a fast and simple business loan. It’s quick and straightforward to apply.
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Key features of a Metro Bank business loan:
The interest rate you’re 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 Metro Bank business loan?
You should only apply for a Metro Bank business loan if you’re certain you can meet the repayment terms. You must also:
How can I apply?
To apply, you need to go into a Metro Bank branch or call the customer services helpline. You should have at hand:
- How much you would like to borrow and for how long
- The purpose of the finance
- Details about your business including profiles on all business owners and investors
- Business plans and cash flow forecasts covering the term of the loan
What is APR?If you’re comparing any credit-based products, it won’t be long before you’ll come across the annual percentage rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.
All lenders must calculate the APR of their products in the same way and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.
Bear in mind that lenders are only obliged to award this rate to 51% of those who take out the loan and the other 49% could pay more. That’s why it’s often referred to as the representative APR.
Frequently asked questions