GreenOak Business Loans, trading as GreenOak Funding, is a UK-based alternative finance provider established in 2017. It specialises in rapid digital lending solutions for small and medium-sized enterprises (SMEs). Authorised and regulated by the Financial Conduct Authority, GreenOak offers a variety of secured and unsecured lending products suited to businesses requiring quick access to capital via a paper-light process. This lender may be appropriate for firms prioritising speed and digital onboarding, but those seeking the lowest possible rates or without personal guarantees may wish to consider other options. For more details, see our business loans overview and Greenoak Business Loans reviews.
Key Features of GreenOak Business Loans
GreenOak leverages technology to deliver convenient SME lending with supportive service. Its offerings include quick decisions and integrations to ease financial management.
- 100% digital onboarding with e-signatures for a paperless application experience
- Open-banking connections provide near real-time cash-flow analysis for more accurate affordability assessment
- Supported by a dedicated UK-based relationship manager once funded
- Customer support available via phone, email and live chat on weekdays from 08:00 to 18:00
- Integration APIs connect with platforms like Xero, QuickBooks and Sage for effortless data sharing
Funding Eligibility Criteria
You may qualify for GreenOak Business Loans if your business meets minimum trading and turnover thresholds, subject to some sector restrictions. Eligibility varies by product but generally requires a UK-based registered business with a clean financial history. Many products demand personal guarantees.
- Minimum trading period from 6 to 18 months depending on loan type — check how to qualify for a business loan in the UK
- Minimum annual turnover typically starts at £100,000 and may be higher for secured lending and invoice finance
- Excluded sectors include property development (for unsecured products), arms trade, gambling, adult entertainment, and cryptocurrency mining — see excluded business sectors for loans
- Credit checks usually require minimum commercial scores and no recent insolvency events — refer to business loan credit checks guidance
- Personal guarantees required for unsecured facilities, typically from major shareholders or directors; see our guide to personal guarantees
Loan Options Available
GreenOak provides multiple business financing products ranging from unsecured term loans to specialised asset and invoice finance. Loan amounts, terms, and rates vary by facility type, accommodating different business needs.
- Merchant Cash Advance: £5,000 to £150,000; 3 to 12 months terms; factor rate 1.15 to 1.35 (APR varies); no separate fees. Suitable for card-based businesses with flexible repayments based on sales. See more on cash advance.
- Revolving Credit Facility: £20,000 to £250,000; renewable every 12 months; monthly interest 0.75% to 2.25% on drawn balance; fees include 3% drawdown and £250 annual renewal. Designed for fluctuating working capital needs with multiple draws. Refer to revolving credit loans.
- Unsecured Business Term Loan: £10,000 to £350,000; 6 months to 5 years; fixed APR 8.9% to 24.9%; arrangement fees 2% to 4%. No tangible security but personal guarantees required. Details at unsecured business loans.
- Asset Finance: £15,000 to £750,000; 1 to 5 years; flat rate 7.5% to 12.5% (APR 14% to 22%); fixed repayments with deposits and fees. Asset acts as security. See asset finance for small businesses.
- Invoice Finance (Selective): Up to £500,000 advance limit; per invoice advances up to 90 days; discount fees 0.8% to 3% per 30 days plus 1% arrangement on invoices. Requires guaranteed main director and all-assets debenture. More info at invoice finance for small businesses.
- Secured Business Term Loan: £50,000 to £1,500,000; 12 months to 7 years; APR 6.5% to 14.5%; 1% arrangement fee plus legal and valuation costs; early settlement fee in year one. Security by first-charge on property. See term loans for small businesses.
How to Apply
Applications with GreenOak are fully online with some telephone support. Expect to provide financial documents and identification, undergo credit and affordability checks, and sign agreements electronically. Decision and funding times vary by product type.
- Submit application digitally via GreenOak’s platform or broker portal. See the online loan application form.
- Provide documents including filed accounts or management accounts, 6 months business bank statements, ID and address proof of directors, asset details (if applicable), and debtor ledger for invoice finance. Reference our business loan document checklist.
- Wait for underwriting and credit decision. Unsecured loans typically decided in 24 hours; secured loans may take 3 to 7 working days. Review business loan decision timeframes.
- Sign loan agreement electronically and arrange funding. Unsecured facilities usually funded same day; secured loans funded 1 to 3 days post-completion. See loan funding speed expectations.
Funding Agent’s view on GreenOak Business Loans
GreenOak Business Loans is a digital-focused lender offering a broad range of products suitable for UK SMEs needing quick funding and willing to provide personal guarantees. Its technology integrations and open-banking assessments support a modern borrower experience. However, businesses seeking the lowest interest rates or with limited trading history might find options elsewhere more suitable. Those interested in GreenOak's offerings can start with our eligibility guide or compare its products using our business loans comparison tools.
