April 14, 2026
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Best Lenders to Secure a 340k Short Term Business Loan

Discover the best lenders offering £340,000 short term business loans in the UK. Compare rates, terms, and find the right finance to support your business growth quickly.
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Best Lenders to Secure a 340k Short Term Business Loan
James Laden
Co-founder and CEO

James Laden is the Co-founder and CEO of Funding Agent. He has 8 years of experience working with major financial companies in the UK, and now focuses on making business funding simpler for SMEs through a faster, technology-led application journey. He writes about business lending, alternative finance, and what lenders look for when assessing applications.

Best Lenders to Secure a 340k Short Term 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 2026-04-07.

1. Funding Agent

Funding Agent provides a brokered platform focusing on business finance options across the UK. It is typically suited to SMEs and franchise buyers seeking a variety of short-term and longer-term funding solutions. The platform offers a fast application process, with flexible terms and unsecured options available, supporting businesses that prioritise speed and choice in funding.

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

Sources: Funding Agent

2. Barclays

Barclays is a traditional bank lender offering business loans mainly targeting growth and working capital needs. It tends to suit established businesses and franchise buyers requiring bank financing with clear terms. Barclays provides relatively fast decisions and structured repayments with low or no collateral requirements in some cases.

Loan Details

  • Min Amount: £1,000
  • Max Amount: £100,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: 1 to 5 years ⌛

Services & Industries

  • Finance Types: Business Loans, Green Loans
  • Industries: Various

Pros

  • Fast approval
  • Reliable service

Cons

  • Higher loan requirements

Sources: Source

3. Funding Circle

Funding Circle operates as an online direct lender with a focus on affordable unsecured loans for UK businesses. It is appropriate for franchise buyers and SMEs looking for efficient funding with competitive rates and fixed repayment schedules. The platform offers quick credit decisions and supports borrowers who prefer no early repayment penalties.

Loan Details

  • Min Amount: £5,000
  • Max Amount: £750,000
  • Min APR: 4.3%
  • Max APR: 15%
  • Loan Duration: 6 months to 5 years ⌛

Services & Industries

  • Finance Types: Unsecured Loans, Short Term Loans
  • Industries: Various

Pros

  • Quick decision-making
  • No early repayment fees

Cons

  • Strict eligibility criteria

Sources: Source

4. iwoca

iwoca specialises in flexible unsecured loans for small businesses in the UK. It suits franchise operators and SMEs needing rapid access to working capital with short-term repayment flexibility. Decisions and funding are typically fast, with variable interest rates reflecting borrower risk profiles.

Loan Details

  • Min Amount: £1,000
  • Max Amount: £1,000,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: 1 day to 24 months ⌛

Services & Industries

  • Finance Types: Unsecured Loans, Business Cash Advance
  • Industries: Various

Pros

  • Fast access to funds
  • No early payment penalties

Cons

  • Interest rates vary based on risk

Sources: Source

5. Metro Bank

Metro Bank offers commercial loans with tailored terms aimed at business growth and expansion. It commonly suits franchise buyers looking for secured lending with flexible repayment arrangements. Their service emphasises personalised support but has limited online application options.

Loan Details

  • Min Amount: £0
  • Max Amount: £0
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: 1 to 30 years ⌛

Services & Industries

  • Finance Types: Commercial Loans, Asset Finance
  • Industries: Various

Pros

  • Personalized service
  • Flexible loan terms

Cons

  • Limited online application options

Sources: Source

6. White Oak

White Oak focuses on finance solutions for small and medium-sized UK businesses, including secured and alternative lending. The lender suits borrowers seeking tailored financing with options like invoice financing. White Oak emphasises rapid funding and flexible products designed for growth and operational needs.

Loan Details

  • Min Amount: £5,000
  • Max Amount: £2,000,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: Up to 6 years ⌛

Services & Industries

  • Finance Types: Secured Loans, Invoice Financing
  • Industries: Various

Pros

  • Tailored financing options
  • Rapid funding

Cons

  • May involve more paperwork

Sources: Source

7. Lloyds Banking Group

Lloyds Banking Group is a major bank providing a wide range of business loans for companies at any stage. It generally suits franchise clients and SMEs looking for flexible repayment plans and reliable support. Their products cover unsecured and secured options with varied loan durations to match business cycles.

Loan Details

  • Min Amount: £1,000
  • Max Amount: £1,000,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: 1 to 25 years ⌛

Services & Industries

  • Finance Types: Business Loans, Overdrafts
  • Industries: Various

Pros

  • Strong customer support
  • Flexible repayment options

Cons

  • Interest rates may vary

Sources: Source

8. NatWest

NatWest offers a broad selection of business finance products, including loans and overdrafts with fixed and variable rates. This lender is suited to franchise buyers needing larger amounts or flexible terms. NatWest emphasises supporting business growth with adaptable financing and repayment structures.

Loan Details

  • Min Amount: £25,001
  • Max Amount: £10,000,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: Variable ⌛

Services & Industries

  • Finance Types: Fixed Rate Loans, Variable Rate Loans
  • Industries: Various

Pros

  • Comprehensive support options
  • Flexible loan amounts

Cons

  • May require detailed financial info

Sources: Source

9. Virgin Money

Virgin Money provides various loan options for business borrowers, including term loans with fixed and variable interest rates. This lender is suitable for franchise buyers needing structured lending with long-term repayment flexibility. Virgin Money focuses on borrowing products that adapt to different financial needs and business sizes.

Loan Details

  • Min Amount: £30,000
  • Max Amount: £10,000,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: 1 to 20 years ⌛

Services & Industries

  • Finance Types: Term Loans, Government-Backed Loans
  • Industries: Various

Pros

  • Flexible interest arrangements
  • Long loan terms

Cons

  • Higher minimum loan amounts

Sources: Source

10. British Business Bank

British Business Bank aims to improve finance access for smaller UK businesses by providing government-backed support programs. It is suitable for franchise buyers and SMEs requiring flexible loan terms and support across various industries. This lender focuses on supplementing traditional funding with alternative schemes and collaborative lending solutions.

Loan Details

  • Min Amount: £0
  • Max Amount: £12,500,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: Variable ⌛

Services & Industries

  • Finance Types: Government Loans, Support Programs
  • Industries: Various

Pros

  • Wide range of support programs
  • Collaborates with many lenders

Cons

  • Application can be complex

Sources: Source

How to choose

When securing a 340k short term business loan, assess your required loan size and APR to align with your budget. Verify lender eligibility criteria and weigh the speed of approval against repayment flexibility. Ensure the repayment schedule fits seasonal cash flow fluctuations common in franchises. Consider whether you prefer secured or unsecured loans and review any fees or early repayment penalties. Comparing terms carefully will help you find a lender that balances cost and convenience effectively.

Conclusion

Choosing the right lender depends on your specific needs and business profile. Banks typically offer structured loans suited for established franchises, while brokers like Funding Agent provide diverse options across multiple lenders. Specialists may offer tailored or alternative finance solutions where traditional lending is limited. Funding Agent is a useful resource for quick comparison, especially for borrowers seeking around 340 thousand pounds loans. Always ensure you understand current costs and terms before committing.

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FAQs

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1Funding AgentFunding Agent helps UK SMEs compare business finance options fast, with a simple application journey and quick eligibility matching.£10,000–£1,000,000; 4%–20% APR; 3–60 months
2BarclaysBarclays is a major financial services provider offering business loans and financing solutions to support business growth in the UK.£1,000–£100,000; 0%–0% APR; 1 to 5 years
3Funding CircleFunding Circle is a leading online lending platform for UK businesses, offering fast, affordable finance options and a seamless application process.£5,000–£750,000; 4.3%–15% APR; 6 months to 5 years
4iwocaIwoca offers flexible business loans tailored for small businesses in the UK, with rapid decision and funding processes.£1,000–£1,000,000; 0%–0% APR; 1 day to 24 months
5Metro BankMetro Bank provides commercial loans with flexible terms, supporting UK business growth and expansion needs.£0–£0; 0%–0% APR; 1 to 30 years
6White OakWhite Oak specializes in providing finance solutions to small and medium-sized businesses in the UK, with various funding products available.£5,000–£2,000,000; 0%–0% APR; Up to 6 years
7Lloyds Banking GroupLloyds offers a range of business loans designed to help businesses from startups to large enterprises manage cash flow and invest in growth.£1,000–£1,000,000; 0%–0% APR; 1 to 25 years
8NatWestNatWest provides a variety of finance products for businesses including loans and overdrafts to support business growth and cash flow management.£25,001–£10,000,000; 0%–0% APR; Variable
9Virgin MoneyVirgin Money offers diverse borrowing options for business users including term loans with both fixed and variable interest rates available.£30,000–£10,000,000; 0%–0% APR; 1 to 20 years
10British Business BankBritish Business Bank aims to make finance markets work better for smaller businesses, offering finance support across the UK through various programs.£0–£12,500,000; 0%–0% APR; Variable
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