Best Lenders to Secure a 240k Secured Business Loan
For UK franchise buyers and operators, this guide compares loan periods and amounts, APRs, and terms across leading providers, with a focus on eligibility and fit. Amounts that could not be verified are left blank, prices accurate as of 2026-01-23.
Funding Agent focuses on providing a streamlined comparison service for UK SMEs. It is suitable for businesses looking for quick access to multiple finance options, including unsecured loans and working capital. The platform offers a fast application process with eligibility matching, primarily catering to those seeking flexibility without collateral requirements.
Loan Details
- Min Amount: £10,000
- Max Amount: £1,000,000
- Min APR: 4%
- Max APR: 20%
- Loan Duration: 3–60 months ⌛
Services & Industries
- Finance Types: Unsecured business loans, MCA Loans, Working capital
- Industries: UK SME's
Pros
- fastest and easiest application process
- No collateral required
Cons
- lower track record, only trading 1 year
Portman Finance Group provides both secured and unsecured loan products aimed at a broad range of UK SMEs. It is suited for businesses requiring tailored financing solutions with flexible terms and brokered access. The provider focuses on delivering competitive loans with options for asset finance and security considerations.
Loan Details
- Min Amount: £10,000
- Max Amount: £2,000,000
- Min APR: 6.9%
- Max APR: 30%
- Loan Duration: 3–72 months ⌛
Services & Industries
- Finance Types: Secured Loans, Unsecured Loans, Asset Finance
- Industries: Any Business Sector
Pros
- Higher approval rates
- Flexible terms
Fleximize specialises in digital lending, offering fast, tailored funding solutions for UK businesses. It suits SMEs seeking flexible loan structures with options for secured or unsecured lending. The provider emphasises rapid decision-making and access to various repayment methods without extensive collateral demands.
Loan Details
- Min Amount: £10,000
- Max Amount: £500,000
- Min APR: 10.9%
- Max APR: 46.8%
- Loan Duration: 3–60 months ⌛
Services & Industries
- Finance Types: Secured Loans, Unsecured Loans
- Industries: General Business
Pros
- Quick funding
- Loyalty incentives
Cons
- Higher APR for larger loans
Union Business Finance focuses on bespoke secured and unsecured lending solutions for commercial borrowers. It is appropriate for SMEs seeking tailored loan arrangements often backed by property or assets with broker support. Rapid loan availability and competitive rates are key features, though some APR details remain unspecified.
Loan Details
- Min Amount: £10,000
- Max Amount: £5,000,000
- Min APR: 7%
- Max APR: 0%
- Loan Duration: 3–84 months ⌛
Services & Industries
- Finance Types: Secured Loans, Unsecured Loans
- Industries: Commercial
Pros
- Competitive rates
- Expert broker support
Cons
- APR details partially disclosed
MoneySuperMarket acts as a comparison platform helping businesses explore loan options across multiple providers. It is ideal for SMEs seeking secured and unsecured loans with a broad range of providers. While direct lending is not offered, the service provides a detailed overview to help evaluate terms efficiently.
Loan Details
- Min Amount: £500
- Max Amount: £10,000,000
- Min APR: 6%
- Max APR: 47.9%
- Loan Duration: 12–60 months ⌛
Services & Industries
- Finance Types: Secured Loans, Unsecured Loans
- Industries: General Business, Retail
Pros
- Wide comparison
- Detailed analysis
Cons
- Indirect lender interface
HSBC delivers extensive business banking services with various secured and unsecured loan products. It is well suited for established SMEs needing flexible borrowing options, often involving higher loan amounts. The bank provides a variety of repayment structures and security arrangements to match diverse business needs.
Loan Details
- Min Amount: £1,000
- Max Amount: £50,000,000
- Min APR: 5.7%
- Max APR: 0%
- Loan Duration: 12–84 months ⌛
Services & Industries
- Finance Types: Secured Loans, Unsecured Loans
- Industries: Finance, General Business
Pros
- Flexible borrowing options
- Strong global presence
Barclays offers a comprehensive selection of business loans, with both fixed and variable interest rate options. The provider is suitable for SMEs looking for a range of loan sizes and flexible term lengths. Barclays supports borrowers requiring secured or unsecured finance with streamlined application processes.
Loan Details
- Min Amount: £1,000
- Max Amount: £10,000,000
- Min APR: 5.9%
- Max APR: 0%
- Loan Duration: 6–120 months ⌛
Services & Industries
- Finance Types: Secured Loans, Unsecured Loans
- Industries: Finance
Pros
- Diverse loan options
- No bank account requirement
Cons
- Higher minimum loan amounts
Merchant Savvy specialises in securing competitive rates for businesses seeking secured lending solutions. It is geared towards SMEs in retail and service industries requiring smaller loan amounts. The platform emphasises fixed rates and tailored borrower support aligned with credit profiles.
Loan Details
- Min Amount: £500
- Max Amount: £25,000
- Min APR: 9.6%
- Max APR: 0%
- Loan Duration: 12–60 months ⌛
Services & Industries
- Finance Types: Secured Loans, Unsecured Loans
- Industries: Retail, Service
Pros
- Competitive fixed rates
- Specialized in SMEs
Cons
- Higher APR for lower credit scores
GoCompare provides an extensive loan comparison platform for UK businesses. It suits those requiring access to a wide range of secured and unsecured loan products. The service focuses on non-impactful credit checks and offers a broad selection of providers to help assess financing options.
Loan Details
- Min Amount: £1,000
- Max Amount: £500,000
- Min APR: 6.9%
- Max APR: 24.9%
- Loan Duration: 6–72 months ⌛
Services & Industries
- Finance Types: Secured Loans, Unsecured Loans
- Industries: Various Industries
Pros
- Wide range of providers
- Non-impactful credit checks
Cons
- Limited direct loan offerings
Money.co.uk serves as an online comparison service offering insights into secured and unsecured business loans. It is intended for SMEs seeking access to a wide variety of lenders and detailed product information. The platform aims to help users make informed decisions with a broad lender base and comparison features.
Loan Details
- Min Amount: £500
- Max Amount: £15,000,000
- Min APR: 10.8%
- Max APR: 47.9%
- Loan Duration: 12–84 months ⌛
Services & Industries
- Finance Types: Secured Loans, Unsecured Loans
- Industries: General Business
Pros
- Thorough comparisons
- Extensive lender range
Cons
- Less control over direct applications
How to choose
When choosing the best lender to secure a 240k secured business loan, consider your specific borrowing needs and repayment capacity. Evaluate loan sizes, interest rates, and repayment periods to fit your cash flow. Check eligibility criteria and the necessity of collateral or security. Factor in application speed versus loan flexibility and available repayment options. Also, review all fees and understand any early repayment conditions. Choosing between direct lenders, brokers, and comparison platforms will influence how efficiently you secure funding.
Conclusion
Choosing the right lender depends on your business needs and borrowing preferences. Banks typically provide higher loan amounts with structured terms suitable for established businesses, while brokers or specialists can offer tailored options and faster access. Comparison services help explore multiple providers, but may not offer direct loans. Funding Agent is a strong choice for SMEs looking for quick comparisons. A 240 thousand pounds loan requires careful consideration of eligibility, security, and repayment flexibility to match your business's goals.
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