April 14, 2026
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Best Lenders to Secure a 390k Unsecured Business Loan

Discover the best lenders offering unsecured business loans up to £390,000. Get expert advice on terms, eligibility, and application tips for UK businesses.
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Best Lenders to Secure a 390k Unsecured Business Loan
Abdus-Samad Charles
Finance Writer

Abdus-Samad Charles is a finance writer and the Head of Content at Funding Agent, with four years’ experience creating practical, easy-to-follow, SEO-informed guidance for UK small and medium-sized businesses. He specialises in turning complex funding topics, like eligibility criteria, documentation requirements, approval timelines, and lender expectations, into clear, research-led resources that are easy to find and help business owners make confident, informed decisions.

Best Lenders to Secure a 390k 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 specialises in comparing business finance options for UK SMEs. It typically suits businesses seeking quick, clear choices with straightforward eligibility and no collateral. The platform offers speed and simplicity in accessing multiple lender options with varied repayment types.

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. Nucleus Commercial Finance

Nucleus Commercial Finance offers a mix of unsecured and secured business loans across the UK. It is suitable for borrowers needing flexible terms without fixed duration details. Their products provide a variety of repayment options and can be considered by businesses wanting both security and unsecured facilities.

Loan Details

  • Min Amount: £3,000
  • Max Amount: £2,000,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: Unknown ⌛

Services & Industries

  • Finance Types: Unsecured Business Loans, Secured Business Loans
  • Industries: Various

Pros

  • Flexible loan terms
  • Rapid decision

Cons

  • APR information not clearly stated

Sources: Source

3. iwoca

iwoca focuses on flexible unsecured business loans with short to medium term repayment options. It is designed for SMEs needing quick access to funds with adaptable repayment schedules. Its offering suits those willing to connect bank accounts for eligibility and to optimise terms.

Loan Details

  • Min Amount: £1,000
  • Max Amount: £1,000,000
  • Min APR: 6.9%
  • Max APR: 0%
  • Loan Duration: 1 day to 24 months ⌛

Services & Industries

  • Finance Types: Unsecured Business Loans
  • Industries: Various

Pros

  • Fast application process
  • Flexible repayment

Cons

  • Requires linking bank accounts

Sources: Source

4. Barclays

Barclays delivers a range of flexible unsecured and secured loans for UK businesses. It typically serves SMEs seeking easily accessible funds under bank lending terms. Barclays emphasises repayment predictability and stable lending frameworks.

Loan Details

  • Min Amount: £1,000
  • Max Amount: £100,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: Up to 24 months ⌛

Services & Industries

  • Finance Types: Unsecured Business Loans, Secured Business Loans
  • Industries: Various

Pros

  • Flexible terms
  • Well-established bank

Cons

  • Upper loan limit may be restrictive

Sources: Source

5. Lloyds Bank

Lloyds Bank provides traditional business loans suited for longer-term investments and growth initiatives. It caters to borrowers who prefer extended repayment plans with structured support. Lloyds Bank offers a range of financing with varying costs to meet different business needs.

Loan Details

  • Min Amount: £1,000
  • Max Amount: £50,000
  • Min APR: 0%
  • Max APR: 11.3%
  • Loan Duration: 1 to 25 years ⌛

Services & Industries

  • Finance Types: Business Loans, Growth Financing
  • Industries: Various

Pros

  • Long repayment terms
  • Strong customer support

Cons

  • Higher APR on some products

Sources: Source

6. NatWest

NatWest provides business loans with both fixed and variable rates, suitable for a wide range of business needs. It is appropriate for companies requiring access to sizeable capital with flexible terms. NatWest aims to accommodate different industries with various financing 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 and Variable Rate Business Loans
  • Industries: Various

Pros

  • No early repayment fees
  • Large loan amounts available

Cons

  • APR varies significantly

Sources: Source

7. Funding Circle

Funding Circle specialises in unsecured small business loans through an online platform. It is well suited for businesses looking for fast decisions and transparent application processes. The platform offers quick access to varying loan amounts with competitive terms.

Loan Details

  • Min Amount: £5,000
  • Max Amount: £750,000
  • Min APR: 0%
  • Max APR: 0%
  • Loan Duration: 6 to 60 months ⌛

Services & Industries

  • Finance Types: Unsecured Business Loans
  • Industries: Various

Pros

  • Quick decision
  • Online application

Cons

  • Higher eligibility criteria

Sources: Source

8. HSBC

HSBC offers a broad range of business loans including products tailored for smaller enterprises. It is aimed at those who value global banking support and diverse loan structures. HSBC provides terms that cater to different repayment period preferences and industry sectors.

Loan Details

  • Min Amount: £1,000
  • Max Amount: £25,000
  • Min APR: 11.3%
  • Max APR: 0%
  • Loan Duration: 12 months to 10 years ⌛

Services & Industries

  • Finance Types: Flexible Business Loans
  • Industries: Various

Pros

  • Global presence
  • Diverse options

Cons

  • Higher APR

Sources: Source

9. Metro Bank

Metro Bank offers commercial loans with flexible terms designed to support long-term business growth. It is aimed at customers who want tailored financing with an emphasis on term adaptability. Metro Bank's loans are suited for a variety of industries, though some details remain unclear.

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
  • Industries: Various

Pros

  • Tailored solutions
  • Long-term loans

Cons

  • Loan amounts unclear

Sources: Source

10. Virgin Money

Virgin Money provides flexible business loans with both fixed and variable rates. It serves UK SMEs looking for loan solutions with longer repayment horizons and higher caps. Virgin Money focuses on adaptable lending to match diverse financial strategies.

Loan Details

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

Services & Industries

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

Pros

  • Flexible terms
  • High loan caps

Cons

  • High minimum loan amount

Sources: Source

How to choose

Consider your required loan size and ensure the lender can accommodate unsecured amounts close to £390,000. Compare APRs carefully, balancing lower rates against any associated fees. Review eligibility criteria and documentation requirements to speed approval. Check repayment flexibility and loan duration to suit your business cash flow patterns. Prioritise lenders with transparent terms and reliable customer support to avoid surprises. Finally, evaluate whether a bank, broker, or specialist lender best meets your needs.

Conclusion

Lenders vary depending on loan amount, security, and business type. Banks generally offer established products with structured terms but may have stricter criteria. Brokers like Funding Agent provide wider access and comparisons across many providers. Specialist lenders focus on niche products such as unsecured or merchant cash advance loans. When seeking a 390 thousand pounds loan, match the provider type to your financial situation, collateral availability, and speed of funding required.

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FAQs

What is an unsecured business loan?
Can I get an unsecured business loan for £390,000?
Which lenders offer the best rates for unsecured business loans in the UK?
What are the eligibility criteria for an unsecured business loan?
How long does it take to get approved for a £390k unsecured business loan?
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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
2Nucleus Commercial FinanceNucleus Commercial Finance provides flexible business loan options in the UK, offering unsecured and secured loans from £3k to £2m.£3,000–£2,000,000; 0%–0% APR; Unknown
3iwocaiwoca offers business loans in the UK from £1,000 to £1,000,000 with flexible repayment terms from 1 day to 24 months.£1,000–£1,000,000; 6.9%–0% APR; 1 day to 24 months
4BarclaysBarclays offers a range of flexible business loans for UK businesses including unsecured lending from £1,000 to £100,000.£1,000–£100,000; 0%–0% APR; Up to 24 months
5Lloyds BankLloyds Bank provides business loans starting from £1,000 with repayment terms up to 25 years for investments and growth.£1,000–£50,000; 0%–11.3% APR; 1 to 25 years
6NatWestNatWest offers a range of business financing options for UK businesses, including fixed-rate loans from £25,001 to £10m.£25,001–£10,000,000; 0%–0% APR; Variable
7Funding CircleFunding Circle is the UK's leading platform for small business loans, enabling access to finance up to £750k with quick decisions.£5,000–£750,000; 0%–0% APR; 6 to 60 months
8HSBCHSBC provides a wide range of business loans including small business loans from £1,000 with terms up to 10 years.£1,000–£25,000; 11.3%–0% APR; 12 months to 10 years
9Metro BankMetro Bank offers tailored business loan solutions with flexible terms up to 30 years to support UK business growth.£0–£0; 0%–0% APR; 1 to 30 years
10Virgin MoneyVirgin Money provides flexible business loans in the UK, starting from £30k with repayment terms up to 20 years.£30,000–£10,000,000; 0%–0% APR; Up to 20 years
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