The Co-operative Bank

The Co-operative Bank business loans

The Co-operative Bank offers flexible business loans of up to £10m for existing business current account holders.

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Chris Lilly

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Co-operative business loans overview

A direct lender founded more than 145 years ago, The Co-operative Bank is often associated with an ethical and community-focused approach to banking. It can offer businesses a variable-rate loan, commercial mortgage, charge card or overdraft facility.

Key features of Co-op Bank variable-rate business loans

  • Borrow £25,020 to £10,000,000.
  • Repay over 1 to 20 years.
  • Variable interest rates which track the Bank of England Base Rate.
  • Arrangement fee (typically 1% percent of your loan amount).
  • Security against an asset or assets is usually required and incurs an additional fee.
  • Not available for residential property development or investment, pension funds, or to businesses based outside of the UK.
  • Decisions usually within 7 working days.

Am I eligible?

You should only apply for a variable-rate business loan if you’re certain you can meet the repayment terms. You and any other key parties must also:

  • Be 18 years or over.
  • Be a UK resident.
  • Be an account signatory with authority to borrow on behalf of the business.
  • Hold a business current account with The Co-operative Bank.
  • Require the lending for business use.

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”.

How can I apply?

  1. Download the application form for your chosen finance option from The Co-operative Bank website. If you’re unsure which loan option is right for your business, you can call to speak to a personal adviser who will help you decide.
  2. The form will ask for detailed information about you and any other key parties, as well as your business. Make sure you have signed the declaration before submitting your application.
  3. You can expect to receive a decision from The Co-operative Bank within 5-7 working days, depending on the credit option you have chosen.

Customer reviews

The Co-Operative Bank has a score of 4.2 out of 5 stars based on over 8,800 reviews, giving it a “Great” rating (updated April 2024). Users positively commented on the bank’s great customer service and expertise, however some have experienced issues with the app.

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