The Co-operative Bank business loan calculator and review

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

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The Co-operative Bank

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.

See how much it'll cost you to take out a The Co-operative Bank loan

The Co-operative Bank business loan calculator
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Use the fields above to estimate business loan costs.

How does the Co-op compare against other popular business loans?

Name Product UKFBL Finder Score Loan type Loan amounts Loan terms Minimum turnover/trading criteria Key benefit
Nest Business Loans logo
4.0
★★★★★
Fixed rate Unsecured loan
£10,000 to £5,000,000
No specified loan terms
£200,000 annual turnover,
1 year trading
Fleximize logo
3.7
★★★★★
Fixed or variable rate Asset finance loan
No specified loan amounts
No specified loan terms
No specified minimum turnover or time trading
ANNA Money  logo
Not yet rated
Unsecured Line of credit loan
£10,000 to £10,000,000
12 to 120 months
No specified minimum turnover or time trading
Fleximize logo
4.0
★★★★★
Fixed or variable rate Unsecured loan
£5,000 to £500,000
3 to 48 months
No specified minimum turnover or time trading
Representative example: Borrow £15,000 over 18 months at a rate of 40.8% APR. Monthly repayment of £1,080.67 and the total amount payable is £19,452.06.

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

  • Borrow £25,020 to £30,000,000.
  • Repay over 1 to 25 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 10 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 9,500 reviews, giving it a “Great” rating (updated July 2024). Users positively commented on the bank’s great customer service and expertise, however some have experienced issues with the app.

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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Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio

Chris's expertise
Chris has written 602 Finder guides across topics including:
  • Loans & credit cards
  • Building credit
  • Financial health

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