MyCashline business loans

MyCashline uses smart tech to offer startup and established SMEs access to its ongoing "bank-free overdraft" service.

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MyCashline business loans comparison

MyCashline business loans

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Name Product Loan type Loan amounts Loan terms Turnover/trading criteria Key benefit
Barclays Secured and Unsecured Business Loans
Fixed or variable rate loans
£1,000 to £5,000,000
12 to 240 months
No specified minimum turnover or time trading
Subject to application, financial circumstances and borrowing history. Other terms may be available.
Barclays Unsecured Business Loan
Fixed rate unsecured loan
£1,000 to £100,000
12 to 120 months
No specified minimum turnover or time trading
Subject to application, financial circumstances and borrowing history. Other terms may be available.
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Other popular business loans

Name Product Loan type Loan amounts Loan terms Turnover/trading criteria Key benefit
Tide Start-up Loan
Fixed rate loan
£500 to £100,000
12 to 60 months
No specified minimum turnover,
maximum 36 months trading
Connect your business bank account and gain access to business loans (Terms & Conditions apply).
6% APR representative (fixed).
Cubefunder Sole Traders Flexible Business Loans
Fixed rate loan
£2,500 to £7,500
Up to 12 months
No specified minimum turnover or time trading
Representative Example: Borrowing £5,000 over 24 months at an interest rate of 30.0% p.a. (fixed), you will repay 24 monthly payments of £320.83 per month. Interest Payable £2,700. Total Repayable £7,700. Representative 45.5% APR.
NatWest Fixed Rate Small Business Loan
Fixed rate unsecured loan
£25,000 to £10,000,000
12 to 300 months
No specified minimum turnover or time trading
Borrow £10,000 over 5 years at a rate of 11.7% pa (fixed). Representative APR 12.35% and total payable £13,255.89 in monthly repayments of £220.93 Other amounts available at alternative rates. Rates depend on your circumstances and loan amount and may differ from the Representative APR. Subject to status, business use only.
Love Finance business loan
Fixed rate line of credit loan
£5,000 to £250,000
3 to 60 months
£50,000 minimum turnover,
minimum 3 months trading
Representative example: Borrow £25,000 over 5 years at a rate of 19.40% p.a. (fixed). Representative APR 19.40% and total payable £ 38,395.20 in monthly repayments of £639.92.
Santander Small Business Loan
Fixed or variable rate loan
£1,000 to £25,000
to 300 months
No specified minimum turnover or time trading
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Tide Start-up Loan

Tide Start-up Loan

  • £500 to £100,000
  • 12 to 60 months
  • Cashflow forecasting through Tide Connect
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MyCashline business loans overview

MyCashline is a direct lender (not a broker) which uses innovative technology to track the trading data of your business in order to speed up its lending approval processes.

It can link to thousands of business data points such as cloud-based accounting services, Amazon and eBay accounts, VAT and tax reports and bank statements.

The theory goes, that if you let MyCashline track all these data points, then in return you’ll enjoy faster decisions on business finance when you need it and money in your account in “as little as 60 minutes”.

If you need to be able to quickly free up cash to take advantage of opportunities as and when they arise, then having a “bank-free overdraft” (read “line of credit”) on hand could offer your business invaluable flexibility. And if you’re after something a little more straightforward, MyCashline also offers traditional fixed-term business loans.

MyCashline business finance options

  1. Bank-free business overdraft
    • Designed for month-to-month cash flow
    • Borrow up to £25,000
    • Draw down on your credit facility at any time
    • Pay finance charges only for the first six months
  2. Fixed-term growth loan
    • Designed for investing in growth
    • Borrow up to £50,000
    • Agree a fixed term at the start
    • Tailor your repayments to suit your business growth plan
  3. Business start-up loan
    • Designed for one-off purchases
    • Borrow £5,000 to £10,000
    • Get a lump sum deposited into your account immediately
    • Set weekly/monthly repayment schedule over 6 to 12 months

Key features of MyCashline business finance

  • Borrow £1,000 to £50,000. The amount you can borrow will depend on your loan option, your business performance and needs, and your creditworthiness.
  • Repay over 1 to 12 months. Choose a loan term to suit your needs or use the “bank-free overdraft” which offers an open line of credit.
  • Fast decision and payment. Get a response within the same working day and receive your funds in just 60 minutes.
  • Cash break and flexible repayment options. Choose to take a break, or pay less, on months when cash flow dips.
  • Startups considered. MyCashline lends to new businesses based on projected sales and your credit history.

The interest rate you’re offered will depend on factors like how much you apply for, the term of the loan, the performance of your business and its credit rating. The interest rate you’re given may differ from the advertised representative APR.

Am I eligible for MyCashline business finance?

You should only apply if you’re certain you can meet the repayment terms. You must also:

  • Be aged 18 or over
  • Have a UK- or Europe-based business
  • Operate as a sole trader, partnership or limited company

How can I apply?

Simply fill out the online application form on the MyCashline homepage with some basic information about your company such as your turnover, profit and what you require the loan for. This should take about 10 minutes. MyCashline will use the data you provide to carry out a soft search on your credit file, so ensure you complete this as accurately as possible. An account manager will then call you with a quote and talk through the next stages of your loan with you.

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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.

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