Best Lenders to Secure a 60k Short Term 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 UK SMEs with an accessible way to compare business finance options quickly. It is typically suitable for franchise buyers and businesses seeking transparent unsecured loans. The platform offers flexible repayment terms with fast pre-qualification and no upfront 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
Norton Finance specialises in secured loans and business finance for a broad range of borrowers. It is suited for franchise buyers or businesses requiring secured financing often backed by property. Their service offers flexibility in loan amounts and terms but typically requires collateral and brokerage access for loan approval.
Loan Details
- Min Amount: £3,000
- Max Amount: £500,000
- Min APR: 6.59%
- Max APR: 36.6%
- Loan Duration: 1-30 years ⌛
Services & Industries
- Finance Types: Secured Loans, Business Loans
- Industries: Various
Pros
- Wide range of loan amounts
- Flexible terms
MoneySuperMarket offers a broad comparison platform focusing on consumer financial products including loans. It is generally suited for borrowers seeking personal or small business loans with transparent options. Their service emphasises saving on interest rates through access to multiple lenders with varying repayment choices.
Loan Details
- Min Amount: £1,000
- Max Amount: £35,000
- Min APR: 7.5%
- Max APR: 29%
- Loan Duration: 1-7 years ⌛
Services & Industries
- Finance Types: Personal Loans, Business Loans
- Industries: Retail, Services, Finance
Pros
- Wide range of lenders
- Low rates available
Cons
- Rates vary widely by lender
Compare the Market provides a comparison service covering multiple financial products, including loans. It suits those looking for a quick overview of competitive deals across lenders. Options vary widely in APR and loan duration, allowing for flexible repayment but requiring careful selection based on need.
Loan Details
- Min Amount: £1,000
- Max Amount: £35,000
- Min APR: 5.7%
- Max APR: 1721%
- Loan Duration: 1-5 years ⌛
Services & Industries
- Finance Types: Personal Loans, Business Loans
- Industries: Various
Pros
- Comprehensive market coverage
- Quick comparisons
5. Royal Bank of Scotland
Royal Bank of Scotland delivers a variety of personal and business loan products through an established banking network. It is appropriate for franchise buyers and SMEs seeking traditional banking loans with flexible repayment and competitive APR. Security requirements and eligibility criteria apply as standard to these products.
Loan Details
- Min Amount: £1,000
- Max Amount: £50,000
- Min APR: 3.5%
- Max APR: 29.9%
- Loan Duration: 1-10 years ⌛
Services & Industries
- Finance Types: Personal Loans, Business Loans
- Industries: Banking, Finance
Pros
- Established bank
- Flexible repayment options
CashFloat is a direct lender specialising in short-term loans with a focus on speed and transparency. It is typically suited for borrowers needing rapid access to credit for smaller amounts, often with less stringent credit requirements. The loans come with high APRs and shorter durations reflecting the short-term nature of the product.
Loan Details
- Min Amount: £300
- Max Amount: £15,000
- Min APR: 295.58%
- Max APR: 1294%
- Loan Duration: 3-9 months ⌛
Services & Industries
- Finance Types: Short Term Loans
- Industries: Finance
Pros
- Bad credit considered
- Fast approval
Lending Expert focuses on providing access to a wide array of loan products through comparison services tailored to UK consumers. It suits franchise buyers and businesses seeking a broad choice of both personal and business loans with competitive rates. Flexibility tends to be high, though APR will vary based on borrower profile.
Loan Details
- Min Amount: £1,000
- Max Amount: £10,000,000
- Min APR: 2.9%
- Max APR: 4.66%
- Loan Duration: 1-30 years ⌛
Services & Industries
- Finance Types: Personal Loans, Business Loans
- Industries: Various
Pros
- Low starting APR
- Wide loan range
Cons
- APR dependent on credit score
Barclays is an established British multinational bank offering personal and business loans to a range of borrowers. It is suitable for franchise buyers and SMEs seeking traditional loans supported by a comprehensive bank infrastructure. Their loan options offer flexible terms though some products may require a business account.
Loan Details
- Min Amount: £1,000
- Max Amount: £100,000
- Min APR: 3.6%
- Max APR: 15%
- Loan Duration: 1-25 years ⌛
Services & Industries
- Finance Types: Personal Loans, Business Loans
- Industries: Banking, Finance
Pros
- Flexible terms
- Fast funding
Cons
- May require a business account
HSBC offers a variety of loan options for personal and business borrowers through a global banking network. It is generally suitable for franchise buyers seeking loans with competitive interest and flexible terms. Eligibility and security requirements apply as per standard banking criteria.
Loan Details
- Min Amount: £1,000
- Max Amount: £50,000
- Min APR: 5.7%
- Max APR: 18.9%
- Loan Duration: 1-10 years ⌛
Services & Industries
- Finance Types: Personal Loans, Business Loans
- Industries: Banking, Finance
Pros
- Global bank
- Competitive rates
Cons
- Strict eligibility criteria
NatWest provides a range of business loan products aimed at small and medium enterprises. It is suited for franchise buyers and businesses looking for flexible terms and competitive rates, with product options including asset finance. Relationships with the bank may be beneficial for application success.
Loan Details
- Min Amount: £1,000
- Max Amount: £100,000
- Min APR: 3.9%
- Max APR: 16%
- Loan Duration: 1-10 years ⌛
Services & Industries
- Finance Types: Business Loans, Asset Finance
- Industries: Banking, Finance
Pros
- Strong SME focus
- No early repayment fee
Cons
- Needs existing relationship
How to choose
When securing a short term loan around £60,000, consider lenders that offer the right balance of speed, flexibility, and suitable loan size. Check eligibility criteria closely, especially regarding collateral and credit history. Evaluate how the loan repayment terms fit with your franchise cash flow and seasonal variations. Also, factor in fees and conditions like early repayment options and total APR. Brokers and comparison platforms can provide access to multiple lenders quickly, while traditional banks may offer more structured products but with stricter eligibility. Always compare options before proceeding to application.
Conclusion
Choosing the right lender for a 60 thousand pounds short term loan depends on your specific needs. Banks may suit those seeking established credit routes and longer terms, while brokers and platforms like Funding Agent facilitate broader market access and quicker comparisons. Specialist lenders can offer speed and accessibility but may come with higher costs. Careful alignment of loan type, security requirements, and repayment flexibility will help in selecting the best provider for your franchise financing.