Compare Business CREDIT LINES

We have partnered with Funding Options so you can compare over 120 lenders including revolving credit lines to find the right finance partner for you.

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  • Match with 120+ Lenders
  • Doesn’t affect your credit score
  • Expert help throughout the process
  • Loans from £1000 to £20M

Compare over 120+ lenders to find your perfect partner

Some of the credit line lenders compared….

Types of business finance available

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Growth Guarantee Scheme
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How it works with Simply Business Loans

At Simply Business Loans we have partnered with Funding Options to bring you access to over 120+ lenders. Funding Options provides you with one simple application process that delivers uniquely tailored loan solutions for your business. Their technology, Funding Cloud, will accurately validate your business profile, matching you to the industry’s largest lender network.

How much do you need for your business?

Start with how much you need to borrow, what it’s for, and basic information about your business.

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Smart technology at Funding Options will compare up to 120+ lenders and match you with matched finance options

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Help is provided to you during application process to receiving your funds. It’s free to apply and it doesn’t affect your credit score

Credit Line Loans: A UK Small Business and SME Guide

Credit line loans, or business lines of credit, offer flexibility and quick access to funds, making them an attractive option for small businesses and SMEs. Here’s a guide to help you understand their key features and which businesses they are best suited for.

Key Features

Pre-Approved Credit Limit: Businesses are approved for a set credit limit, which they can use as needed. This provides immediate access to funds when required.

Interest Only on Drawn Amounts: Interest is charged only on the amount of credit used, not the entire approved limit. This can reduce borrowing costs if the full credit line isn’t used.

Revolving Credit: The available credit replenishes as the loan is repaid, enabling repeated access to funds for various business needs.

Flexible Repayment Terms: Repayment terms are flexible, usually ranging from months to years, allowing businesses to align repayments with cash flow.

Variable or Fixed Interest Rates: Interest rates can be fixed or variable, with variable rates linked to a benchmark like the Bank of England base rate. Variable rates may be beneficial when interest rates are low, whereas fixed rates offer predictable payments.

Secured vs. Unsecured: Secured loans require collateral (property or inventory), usually resulting in lower interest rates, while unsecured loans don’t require collateral but often have stricter eligibility criteria.

Best Suited For

Seasonal Businesses: Credit line loans offer a financial safety net during slower periods for businesses with fluctuating revenue.

Cash Flow Management: The loans are useful for businesses needing working capital to bridge cash flow gaps and cover expenses like payroll and inventory.

Growth and Expansion: They provide flexible funding for businesses looking to expand or invest in new opportunities without a long-term loan commitment.

Comparing Credit Line Loans

Define Your Needs: Determine the required credit limit and loan purpose.

Compare Interest Rates and Fees: Review fixed and variable rates and be mindful of additional fees.

Check Eligibility Requirements: Lenders have different criteria for turnover, credit score, and business age.

Compare with Other Loan Types: Consider alternatives like short-term loans or invoice financing.

Seek Professional Advice: Consult with financial advisors or business mentors.

Fast & Flexible

Credit line loans offer flexibility for small businesses and SMEs in the UK to manage their cash flow, cover expenses, and invest in growth. It’s also important to compare different loan options with other funding solutions, to ensure you find the best fit for your business.

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