Reparo Finance business loans

Reparo Finance is an independently-owned direct lender (not a broker), authorised and regulated by the Financial Conduct Authority (FCA), specialising in business loans for SMEs that may find it difficult to get credit from mainstream banks.

While Reparo Finance requires assets for security on its loans, its sister company Fast Track Business Finance offers short term loans based solely on your ability to repay.

Tide Start-up Loan

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

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Key features of a business loan with Reparo Finance

• Fast decisions. Reparo states that it typically makes decisions within 48 hours.
• Security required. The loan must not exceed 70% of the value of your security asset and if you fail to repay the loan, your asset will be at risk.
• Repay in up to 24 months. Choose a repayment term to suit your business. You must be able to demonstrate that you can afford to pay back the loan in this timeframe.
• No early repayment penalty. Save interest by paying the loan back early if you can afford to do so.

Is my business eligible?

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

• Be aged over 18
• Be a UK-based startup or SME
• Be able to demonstrate how you will pay the loan back
• Own assets a loan can be secured against, which can also be independently valued
• Have a reasonable credit history

The interest rate you’re offered will mostly depend on the value of your security asset, but the performance of your business and its credit rating will also be considered. The interest rate offered may differ from any advertised “Representative APR”.

How can I apply?

1. Use the contact form on the Reparo Finance website to send basic details about you, your business and why you need the loan.
2. There is the option to upload files that include more detailed information such as a business plan or any supporting documentation.
3. An adviser will then call you to talk through your options.

Frequently asked questions

• Will Reparo Finance perform a credit search?

  Yes, Reparo Finance will perform a credit search on you, any other key parties and your business. This will leave a permanent footprint that other future lenders will be able to see.

• What information will I need to provide in my application?

  Accounts, bank statements and a reference as a minimum for Reparo Finance to assess the loan. It will then need your ID and authority to conduct a credit search. Reparo Finance will conduct an independent valuation of your fixed assets.

• Can I borrow again after I repay my loan?

  Yes. Reparo states that applications from clients that have repaid previous loans are welcome. If you’ve complied with all the conditions of your first loan, you may also benefit from lower rates.

• Do I need to have been trading for a minimum amount of time?

  No, Reparo Finance will consider all situations.