Close brother Alternatives
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This guide lists five UK focused alternatives to Close brother, so buyers can compare speed, eligibility, products, and pricing before applying. Data was generated on 2023-11-04T00:56:21Z; always confirm current terms with the provider.
Quick compare
1. Lloyds Bank
Lloyds Bank Lloyds Bank offers a wide range of business finance solutions, including term loans and invoice finance. This option suits UK businesses that want to compare Close brother with other panels or faster routes.
Loan and pricing details
- Min amount: £1,000
- Max amount: £1,000,000
- APR min: 11.2%
- APR max: Unknown
- Loan durations: 1 to 30 years
Funding range note: From £1,000 to £1,000,000
Speed: Varies depending on loan type, generally quick for existing clients
Interest rate notes: Representative APR is 11.2% for loans up to £50,000
Eligibility
- Min trading months: 12
- Min monthly turnover: £1,000
- Credit flexibility: Limited flexibility, better credit preferred
Personal guarantee: Typically required for unsecured loans
Homeowner advantage: Homeowners might have access to better terms
Services and sectors
- Products: term_loan, invoice_finance
- Industries: Retail, Manufacturing, Professional services
Best for
- Stable banking relationships
- Established businesses
Pros
- Large network
- Comprehensive product range
Cons
- More rigid eligibility criteria
- Higher APR for small loans
Sources: https://www.lloydsbank.com/business/borrowing-for-your-business.html
2. Santander UK
Santander UK Santander UK provides flexible business finance options including term loans and asset finance, suitable for businesses looking for a reputable bank with competitive interest rates. This option suits UK businesses that want to compare Close brother with other panels or faster routes.
Loan and pricing details
- Min amount: £2,000
- Max amount: £25,000,000
- APR min: 7.9%
- APR max: Unknown
- Loan durations: 1 to 25 years
Funding range note: From £2,000 to £25,000,000
Speed: 1 to 3 days for loan approval depending on complexity
Interest rate notes: Representative APR is 7.9%
Eligibility
- Min trading months: 12
- Min monthly turnover: £2,000
- Credit flexibility: Competitive rates, better for established companies
Personal guarantee: Often required for higher loans
Homeowner advantage: Helps in securing lower interest rates
Services and sectors
- Products: term_loan, asset_finance
- Industries: Technology, Construction, Healthcare
Best for
- Flexible repayment options
- Businesses seeking long-term finance
Pros
- Flexible loan terms
- Reputable and stable
Cons
- Interest rates vary significantly
- May require extensive paperwork
Sources: https://www.santander.co.uk/corporate/solutions/finance/business-loans
3. Virgin Money
Virgin Money Virgin Money focuses on providing innovative business finance solutions suitable for startups and established firms. They offer quick, flexible options for sectors seeking growth or working capital, often with customised interest rates and terms.
Loan and pricing details
- Min amount: £30,000
- Max amount: £10,000,000
- APR min: Unknown
- APR max: Unknown
- Loan durations: 1 to 5 years
Funding range note: From £30,000 up to £10,000,000
Speed: Fast decision process, often within a few days
Interest rate notes: Rates are highly variable and often customized
Eligibility
- Min trading months: 6
- Min monthly turnover: £3,000
- Credit flexibility: Flexible depending on business profile
Personal guarantee: Generally expected for new clients or higher risks
Homeowner advantage: Being a homeowner could improve terms
Services and sectors
- Products: term_loan, overdraft
- Industries: Startup, IT, Creative industries
Best for
- Start-ups and growing businesses
- Innovative finance solutions
Pros
- Innovative and flexible
- Supports new businesses
Cons
- Rates might be high for less established businesses
- Complexity in application
Sources: https://uk.virginmoney.com/business/existing-customers/find-your-interest-rate/
4. Investec
Investec Investec specialises in tailored financial solutions for business clients, including flexible repayment structures and security options. It is suitable for companies seeking customised financing with brokered access and high-level targeting, often involving larger or complex deals.
Loan and pricing details
- Min amount: Unknown
- Max amount: Unknown
- APR min: Unknown
- APR max: Unknown
- Loan durations: Varies per arrangement
Funding range note: Custom tailored, generally large-scale funding
Speed: Varies with bespoke solutions, generally requires detailed discussions
Interest rate notes: Interest rates are structured on a deal-by-deal basis
Eligibility
- Min trading months: 24
- Min monthly turnover: £5,000
- Credit flexibility: Highly flexible, tailored to client needs
Personal guarantee: Often not required due to bespoke nature
Homeowner advantage: Not typically relevant
Services and sectors
- Products: leveraged_finance, corporate_lending
- Industries: Finance, Real estate, Energy
Best for
- Custom finance solutions
- Medium to large enterprises
Pros
- Highly personalized service
- Innovative financial structures
Cons
- Not suited for small businesses
- Complex application process
Sources: https://www.investec.com/en_gb/business/private-companies/lending-and-finance.html
5. Metro Bank
Metro Bank Metro Bank offers straightforward business loans with transparent terms. It is suited for small to medium enterprises seeking accessible financing, often with quick approval and fixed rates.
Loan and pricing details
- Min amount: £2,000
- Max amount: £10,000,000
- APR min: 9.6%
- APR max: 9.6%
- Loan durations: 1 to 30 years
Funding range note: From £2,000 to £25,000 for small loans, up to £10,000,000 for larger loans
Speed: Quick approval process, often within 24 hours for small loans
Interest rate notes: Fixed APR at 9.6%, competitively set
Eligibility
- Min trading months: 6
- Min monthly turnover: £1,000
- Credit flexibility: Designed for SMEs, moderate credit required
Personal guarantee: Typically required for unsecured loans
Homeowner advantage: Improves approval and terms
Services and sectors
- Products: term_loan, commercial_loans
- Industries: Retail, Hospitality, Services
Best for
- SMEs looking for transparent deals
- Businesses needing quick cash flow solutions
Pros
- Transparent and fixed rates
- Fast approval process
Cons
- May require a personal guarantee
- Higher rates for smaller loans
Sources: https://www.metrobankonline.co.uk/business/borrowing/products/commercial-loans/
Final notes
When comparing providers, match loan size, timeline, and sector fit first, then confirm current rates and fees with the finance provider. If one option declines your application, a broker or multi lender panel may still place the deal. When choosing a provider, consider whether a bank, broker or specialist matches your specific needs. Banks offer straightforward products with quick decisions, while brokers can help find tailored deals. Specialist lenders may provide more flexible and complex financing options. For additional guidance on choosing the right funding agent, visit Funding Agent.
