Barclays Alternatives

This guide lists five UK focused alternatives to Barclays, so buyers can compare speed, eligibility, products, and pricing before applying.
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Quick Comparison

1. HSBC

HSBC offers business loans and financial products focusing on commercial finance. The provider caters to UK businesses seeking flexible terms, prompt decision-making, and various security options. It is suitable for those needing quick access to funds for growth or operational needs.

Loan and pricing details

• Min amount: £25,001
• Max amount: £10,000,000
• APR min: 8.6%
• APR max: 11.3%
• Loan durations: 12 months to 20 years

Funding range note: From 25,001 to 300,000 typically

Speed: 1 to 3 days for decision

Interest rate notes: 8.6% to 11.3% APR based on the loan amount

Eligibility

• Min trading months: 12
• Min monthly turnover: £10,000
• Credit flexibility: Moderate

Personal guarantee: Often required for larger loans

Homeowner advantage: Beneficial for securing larger loans

Services and sectors

• Products: term_loan, revolving_credit
• Industries: Retail, Manufacturing, Service

Best for

• Businesses needing wide service coverage
• Competitive fixed rates
• Larger loan amounts

Pros

• Established brand
• Wide range of products
• Competitive interest rates

Cons

• Higher APR for smaller loans
• Slower application process

Sources: https://www.business.hsbc.uk/en-gb/products/small-business-loan

2. Lloyds Banking Group

Lloyds Banking Group specialises in business and commercial banking services. It offers various lending options designed for different business types, including traditional term loans and asset finance. The provider is known for its flexible approaches and quick decisions for UK companies seeking working capital or growth funding.

Loan and pricing details

• Min amount: £1,000
• Max amount: £1,000,000
• APR min: 11.2%
• APR max: Unknown
• Loan durations: 1 year to several years

Funding range note: From 1,000 to 1,000,000 typically

Speed: Decision within a few days

Interest rate notes: 11.2% APR for smaller amounts

Eligibility

• Min trading months: Unknown
• Min monthly turnover: £1,000
• Credit flexibility: Flexible with strong cases

Personal guarantee: Commonly required especially for higher loans

Homeowner advantage: Facilitates securing better rates

Services and sectors

• Products: term_loan, asset_finance
• Industries: Technology, Wholesale, Construction

Best for

• Flexible loan terms
• Small to medium enterprises
• Risk-based pricing

Pros

• Flexible amounts
• Wide recognition
• Customized offers

Cons

• Possibly high rates for lower amounts
• Complex application process

Sources: https://www.lloydsbank.com/business/business-loans.html

3. Santander UK

Santander UK provides business loans and tailored finance products suitable for various growth needs. Its offerings include quick approval options and fixed rate products, making it a flexible alternative. The provider is ideal for UK businesses seeking predictable costs and prompt funding.

Loan and pricing details

• Min amount: £2,000
• Max amount: £25,000
• APR min: 7.9%
• APR max: Unknown
• Loan durations: 1 to 5 years

Funding range note: From 2,000 to 25,000 typically

Speed: Rapid for existing customers

Interest rate notes: Fixed rate options available

Eligibility

• Min trading months: 6
• Min monthly turnover: £500
• Credit flexibility: Flexible

Personal guarantee: May be required depending on loan size

Homeowner advantage: Enhances application strength

Services and sectors

• Products: term_loan, overdraft
• Industries: Retail, Hospitality, Healthcare

Best for

• Startups
• Competitive rates
• Long-term loans

Pros

• Low entry loan amount
• Trusted provider
• Flexible repayment plans

Cons

• Higher rate for smaller businesses
• Eligibility conditions

Sources: https://www.santander.co.uk/corporate/solutions/finance/business-loans

4. NatWest Group

NatWest Group is a major UK bank providing diverse business loan options. It focuses on working capital, property purchase, or refinance solutions through flexible lending terms. They offer quick processing for suitable SME and larger clients, often with broker access for tailored arrangements.

Loan and pricing details

• Min amount: £25,001
• Max amount: £10,000,000
• APR min: 6.6%
• APR max: 12.24%
• Loan durations: Flexible durations

Funding range note: From 25,001 to 10,000,000 typically

Speed: Customer-focused processing times

Interest rate notes: Variable rates with fixed options available

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Moderate

Personal guarantee: Often waived for small community loans

Homeowner advantage: Little impact noted

Services and sectors

• Products: term_loan, community_finance
• Industries: Agriculture, Education, Manufacturing

Best for

• Variable rate loans
• Established businesses
• Community focused programs

Pros

• Community projects
• Long-established
• Flexible terms

Cons

• Interest rate variability
• Market sensitive

Sources: https://www.natwest.com/business/loans-and-finance.html

5. Metro Bank

Metro Bank offers fast and straightforward financial products focusing on transparency and customer service. The provider supports small businesses seeking rapid funding and flexible repayment options. It is suitable for those needing quick access and clear pricing for short-term growth or operational finance.

Loan and pricing details

• Min amount: £2,000
• Max amount: £30,000
• APR min: 9.6%
• APR max: Unknown
• Loan durations: 1 to 5 years

Funding range note: From 2,000 to 30,000 typically

Speed: Same day funding in some cases

Interest rate notes: Fixed at 9.6% APR for most loans

Eligibility

• Min trading months: 3
• Min monthly turnover: £2,000
• Credit flexibility: Moderate to high

Personal guarantee: Required on higher loans

Homeowner advantage: Minor role

Services and sectors

• Products: term_loan, small_business_loan
• Industries: Food Service, Retail, Creative sectors

Best for

• Fast service
• Small business needs
• Transparent rates

Pros

• Quick turnaround
• User-friendly service
• Clear cost structure

Cons

• Limited loan amounts
• High minimum turnover

Sources: https://www.metrobankonline.co.uk/business/borrowing/products/business-loan-calculator/

Final notes

When comparing providers, match loan size, timeline, and sector fit first, then confirm current rates and fees with the finance provider. If one option declines your application, a broker or multi lender panel may still place the deal. Consider the type of provider best suited to your needs. Banks typically offer larger, secured loans, while brokers can access a broader range of options including specialised lenders. A funding agent may guide you through options tailored to your specific sector or size. To explore a wide selection of funding sources, see our Funding Agent.