Business Loan

Switch your existing lending today

Business Loans

What you can get

  • Borrow from £2,000 up to £25,000 over 1-5 years
  • Know what you’re paying and when with one fixed monthly repayment
  • 2.5% cashback of your switched loan amount on your unsecured loan when you switch

Representative example

(1|2|3 Business Current Account customers)

 

  • Representative 4.9% APR
    Loan amount £10,000
    Interest rate 4.8% (fixed) p.a
  • Term 60 months
    Monthly repayment £187.77
    Total amount repayable £11,226.20

Representative example

(Business Current Account customers)

  • Representative 5.9% APR
    Loan amount £10,000
    Interest rate 5.8% (fixed) p.a.
  • Term 60 months
    Monthly repayment £192.15
    Total amount repayable £11,529.00

We’ll guarantee to match your existing lending at a rate of 4.9% for 1|2|3 Business Current Account customers or 5.9% for Business Current Account customers. Borrow up to £25,000 (5 year maximum term), subject to fraud and money laundering checks and no significant adverse credit history.

Everything you need to know before you apply

To ensure we can switch your small business loan to Santander quickly please have the following information available before applying as we will request this during your application.

  • The account number and sort code of your Business Banking Switch Business Current Account
  • The account number and sort code of the small business loan you are switching
  • The exact amount outstanding of the small business loan you are switching (rounded up to the nearest pound)
  • If you are a sole trader or partnership then please request a settlement figure for your existing loan that is valid for 28 days.

If you are a Business Banking Switch customer with more than one business loan and a combined total value is of less than £25,000 then please consolidate these into one business loan.

Business details

  • Business start date and 3 years’ trading address history (if applicable)
  • A description of what your business does
  • Financial information, including current and anticipated turnover / net profit, and total capital/net worth
  • Details of any outstanding business lending including mortgage balance and property value (if business premise is owned)

Personal details (for anybody named in the application)

  • Full name, date of birth and nationality
  • 3 years’ address history and current residential status (owned/rented/other)
  • Length of time with current personal bank and number of personal credit cards

If you have a private limited company or a limited liability partnership, you’ll also need your registered name and address, date of incorporation, and company registration number. Please make sure these match Companies House before applying.

When assessing your application we may contact you to request further details of your existing lending, such as your settlement letter.

Important contractual information is included within documents which can be accessed via the links below. We advise that you should read and consider these documents before proceeding with your application. You should print or save copies of these documents for further reference and records. If there are any questions you have regarding these or you require further information please 0800 085 1791.

As part of this application you will also have the ability to apply for an Overdraft. If you wish to apply for this product at the same time as your Business Loan, we would advise that you should take some time to review and read following documents:

Key Facts Document with Overdraft information subject to the Santander Business Current Account you hold:

If you have a 1|2|3 Business Current Account:

If you have a Business Current Account:

Terms & Conditions with Overdraft information subject to when you opened your account: 

To view all these documents, you may need to download Adobe Reader.

The fees associated with your overdraft are: 1% annual fee of the agreed overdraft (minimum fee £50). The Arranged Overdraft Interest Rate is 5.75% EAR (variable) (Bank of England Base Rate plus 5%). The Unarranged Overdraft Interest Rate is 25.75% EAR (variable) (Bank of England Base Rate plus 25%). The Unpaid Item fee is £15.

If you’re providing information about other individuals as part of this application you must have their authority to act on their behalf.  During the application you’ll be asked if you want to hear about products, services and offers that may be of interest. Please note the preferences you select will apply to all individuals and will override any previous preferences given. If you, or any joint account holder, would like to amend those preferences please contact us at any time. 

All lending is subject to status, availability and our lending criteria. The right to decline any application is reserved.

If you do not understand any of the details about your chosen product or terms then please 0800 085 1791 before applying.

1|2|3 customer – apply
Non-1|2|3 customer – apply