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

Discover the best lenders to secure a £340,000 unsecured business loan in the UK. Learn about approval criteria, interest rates, and how to find the right lender for your business needs.
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Best Lenders to Secure a 340k Unsecured Business Loan
Jesse Spence
Finance content writer / Market researcher

Jesse Spence is a Funding Research and Content Lead at Funding Agent with 4 years of experience in market research. He focuses on turning lender criteria and market insights into practical, plain-English resources that help business owners, not only, improve approval chances and choose the right type of finance but also find the right funding providers for their needs.

Best Lenders to Secure a 340k Unsecured 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 operates as a finance comparison broker focused on helping UK SMEs find fast access to a range of unsecured business loan options. It is typically suitable for franchise buyers and SMEs requiring clarity and choice on loan amounts and durations. The service offers speed and flexibility with no collateral requirements, broad eligibility, and varying repayment options.

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 Bank

Barclays Bank offers a broad range of unsecured and secured business loans suitable for various business needs including franchise acquisition and working capital. It typically suits businesses seeking reliable bank-based lending with options for secured borrowing. Barclays provides competitive rates, some flexibility in repayment, but may require collateral or meet strict eligibility criteria.

Loan Details

  • Min Amount: £1,000
  • Max Amount: £100,000
  • Min APR: 3.49%
  • Max APR: 15%
  • Loan Duration: 12 to 120 months

Services & Industries

  • Finance Types: Unsecured Business Loan, Secured Business Loan
  • Industries: General Business, Retail, Healthcare

Pros

  • Competitive interest rates
  • Strong reputation and reliability

Cons

  • Stringent eligibility criteria

Sources: Source

3. HSBC UK

HSBC UK provides varied business loan products including flexible and fixed rate options geared to small and medium enterprises. It is often suitable for companies requiring tailored loan structures with some flexibility in repayment. HSBC supports a wide range of industries and loan purposes, offering brokered and direct access to funding with global banking resources.

Loan Details

  • Min Amount: £1,000
  • Max Amount: £25,000
  • Min APR: 11.3%
  • Max APR: 18%
  • Loan Duration: 12 to 120 months

Services & Industries

  • Finance Types: Small Business Loan, Commercial Business Loan
  • Industries: Manufacturing, Services, Logistics

Pros

  • International support and services
  • Comprehensive loan options

Cons

  • Higher APR for smaller loans

Sources: Source

4. Lloyds Bank

Lloyds Bank offers flexible business loan solutions designed to meet the needs of a broad range of UK businesses. This provider suits companies that value longer repayment periods and tailored loan structures. Lloyds may require existing customer status and offers competitive rates with options for secured and unsecured lending.

Loan Details

  • Min Amount: £1,000
  • Max Amount: £50,000
  • Min APR: 6.4%
  • Max APR: 19.9%
  • Loan Duration: 12 to 300 months

Services & Industries

  • Finance Types: Small Business Loan, Commercial Business Loan
  • Industries: Technology, Wholesale, Hospitality

Pros

  • Flexible loan terms
  • Long repayment periods

Cons

  • Eligibility only for existing customers

Sources: Source

5. Santander UK

Santander UK focuses on providing tailored financial solutions for businesses across multiple sectors in the UK. Their loans generally suit SMEs needing flexible terms and a wide loan range, often for medium to larger funding needs. They offer customised products with considerations for loan duration and repayment flexibility.

Loan Details

  • Min Amount: £25,001
  • Max Amount: £500,000
  • Min APR: 5%
  • Max APR: 14.8%
  • Loan Duration: 12 to 240 months

Services & Industries

  • Finance Types: Commercial Loan, SME Loan
  • Industries: Retail, Construction, Energy

Pros

  • Personalized loan solutions
  • Wide loan range

Cons

  • Higher minimum loan amount

Sources: Source

6. NatWest

NatWest provides a comprehensive suite of financial products, focusing on both fixed rate and variable rate business loans. This lender is suitable for SMEs seeking multiple loan structures with flexibility around repayment and collateral requirements. NatWest serves various industries with customer-oriented services and a broad loan duration range.

Loan Details

  • Min Amount: £25,001
  • Max Amount: £1,000,000
  • Min APR: 5.24%
  • Max APR: 15.5%
  • Loan Duration: 12 to 360 months

Services & Industries

  • Finance Types: Fixed Rate Loan, Variable Rate Loan
  • Industries: Financial Services, IT, Transport

Pros

  • Variety of loan types
  • Customer-focused service

Cons

  • Rates may vary considerably

Sources: Source

7. Metro Bank

Metro Bank delivers tailored business banking products including commercial loans and overdraft facilities with flexible terms aimed at SMEs. It suits businesses looking for personalised service and a degree of borrowing flexibility. Metro Bank focuses on industries like manufacturing and retail, providing loans with various repayment options.

Loan Details

  • Min Amount: £5,000
  • Max Amount: £100,000
  • Min APR: 5.9%
  • Max APR: 16.9%
  • Loan Duration: 12 to 360 months

Services & Industries

  • Finance Types: Commercial Loan, Business Overdraft
  • Industries: Manufacturing, Retail, Service

Pros

  • Personalized customer service
  • Flexible borrowing

Cons

  • Limited branch network

Sources: Source

8. Quick Funds

Quick Funds focuses on offering fast and flexible unsecured business loans designed for SMEs needing quick funding access. It is fit for businesses requiring rapid decisions and shorter repayment terms. The lender emphasises straightforward borrowing with no hidden fees and flexible options across various sectors.

Loan Details

  • Min Amount: £10,000
  • Max Amount: £500,000
  • Min APR: 4.5%
  • Max APR: 20%
  • Loan Duration: 6 to 24 months

Services & Industries

  • Finance Types: Rapid Business Loan, Flexible Loan
  • Industries: Retail, Automotive, Technology

Pros

  • Speedy approval
  • No hidden fees

Cons

  • Shorter loan durations

Sources: Source

9. V4B Business Finance

V4B Business Finance offers a variety of secured and unsecured commercial finance products tailored to different SME needs and sectors. It suits businesses requiring customised loan solutions with competitive rates and defined repayment schedules. The lender focuses on helping clients unlock growth with flexible lending and clear product options.

Loan Details

  • Min Amount: £5,000
  • Max Amount: £250,000
  • Min APR: 6.99%
  • Max APR: 17.5%
  • Loan Duration: 12 to 60 months

Services & Industries

  • Finance Types: Secured Business Loan, Unsecured Business Loan
  • Industries: Agriculture, Tech, Services

Pros

  • Wide range of finance solutions
  • Competitive rates

Cons

  • Strict eligibility requirements

Sources: Source

10. British Business Bank

British Business Bank supports UK SMEs with government-backed loan schemes aimed at start-ups and growing businesses. Ideal for those looking for structured support, mentoring, and innovation-focused finance. The bank offers relatively small loan amounts with clear criteria, focusing on helping businesses that require predictability and support in growth phases.

Loan Details

  • Min Amount: £500
  • Max Amount: £100,000
  • Min APR: 6%
  • Max APR: 12%
  • Loan Duration: 12 to 60 months

Services & Industries

  • Finance Types: Start-up Loan, Growth Loan
  • Industries: Start-ups, SMEs, Innovation

Pros

  • Government-backed loans
  • Mentoring support

Cons

  • Small loan limits

Sources: Source

How to choose

When seeking a 340 thousand pounds unsecured business loan, prioritise matching the loan size and APR to your financial plans. Evaluate lender eligibility criteria carefully, especially for unsecured loans where collateral is not an option. Balance application speed with loan flexibility and ensure repayment terms align with your franchise cash flow and seasonal patterns. Consider fees, early repayment options, and lender reliability before committing. Comparing both broker and direct bank options can widen your choices. Always review the full loan agreement details to avoid surprises.

Conclusion

Choosing the right provider depends on your specific loan needs and circumstances. Banks typically suit borrowers seeking established lending with varied products, while brokers like Funding Agent offer quick access to multiple options and streamlined comparison. Specialist lenders might be better for unique or niche financing needs. Assess provider type against your business size, loan amount, and loan purpose. It's essential to compare terms and costs carefully to find the best fit for your 340 thousand pounds loan requirements.

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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
2Barclays BankBarclays Bank is one of the UK's largest financial institutions, providing a wide array of business banking services including unsecured and secured loans.£1,000–£100,000; 3.49%–15% APR; 12 to 120 months
3HSBC UKHSBC UK is a leading global bank offering diverse business loan options tailored to SMEs, with both flexible and fixed rate loans available.£1,000–£25,000; 11.3%–18% APR; 12 to 120 months
4Lloyds BankLloyds Bank is a prominent UK bank providing tailored loan solutions for businesses of all sizes with flexible terms and competitive rates.£1,000–£50,000; 6.4%–19.9% APR; 12 to 300 months
5Santander UKSantander UK offers comprehensive financial services to businesses across the UK, focusing on customized business loan products with flexible conditions.£25,001–£500,000; 5%–14.8% APR; 12 to 240 months
6NatWestNatWest provides an extensive range of financial services for businesses, including both fixed and variable rate business loans.£25,001–£1,000,000; 5.24%–15.5% APR; 12 to 360 months
7Metro BankMetro Bank delivers personalized business banking solutions, including a diverse selection of business and commercial loans with flexible terms.£5,000–£100,000; 5.9%–16.9% APR; 12 to 360 months
8Quick FundsQuick Funds specializes in providing rapid business loans to SMEs in the UK, enabling quick access to funding with flexible repayment options.£10,000–£500,000; 4.5%–20% APR; 6 to 24 months
9V4B Business FinanceV4B Business Finance offers diverse commercial finance solutions to help UK businesses unlock potential through tailored loan products.£5,000–£250,000; 6.99%–17.5% APR; 12 to 60 months
10British Business BankThe British Business Bank supports UK SMEs through various loan schemes, enhancing access to finance to facilitate business growth and innovation.£500–£100,000; 6%–12% APR; 12 to 60 months