HSBC UK Alternatives

This guide lists five UK focused alternatives to HSBC UK, so buyers can compare speed, eligibility, products, and pricing before applying.

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Quick Compare:

1. Lloyds Bank

Lloyds Bank offers traditional business loans with a focus on supporting UK companies. It provides quick funding options, collateral flexibility, and is suitable for businesses seeking quick access or comparison with other panels.

Loan and pricing details

• Min amount: £1,000
• Max amount: £1,000,000
• APR min: 11.2%
• APR max: Unknown
• Loan durations: 1 to 25 years

Funding range note: from £1,000 to £1 million

Speed: Funds in 48 hours for approved applicants

Interest rate notes: Representative APR is 11.2% for loans up to £50,000

Eligibility

• Min trading months: 12
• Min monthly turnover: Unknown
• Credit flexibility: Standard credit checks apply

Personal guarantee: Personal guarantees often required for higher loan amounts

Homeowner advantage: Being a homeowner can improve loan approval chances

Services and sectors

• Products: term_loan, invoice_finance
• Industries: Retail, Manufacturing, Hospitality

Best for

• Traditional banking services
• Established businesses

Pros

• Competitive interest rates
• Quick funding for small loans

Cons

• Personal guarantee required for large loans
• Limited loan products

Sources: https://www.lloydsbank.com/business/business-loans/small-business-loans.html

2. Barclays Bank

Barclays Bank offers a flexible range of business loans commonly used for various purposes. It is suitable for franchise buyers, property purchase or refinance, and working capital needs with quick access and flexible terms.

Loan and pricing details

• Min amount: £1,000
• Max amount: £5,000,000
• APR min: 11.2%
• APR max: 14.9%
• Loan durations: 1 to 25 years

Funding range note: from £1,000 to £5 million

Speed: 1 to 3 days for approved applicants

Interest rate notes: Representative APR varies with loan amount

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Custom rates based on business risk profile

Personal guarantee: Generally required for unsecured loans

Homeowner advantage: Being a homeowner may improve application outcomes

Services and sectors

• Products: term_loan, business_mortgage
• Industries: Technology, Retail, Construction

Best for

• Flexible loan terms
• Businesses seeking a large panel
• Businesses seeking secured loans

Pros

• Diverse range of loan products
• Flexible terms

Cons

• Higher APR for smaller loans
• Complex eligibility requirements

Sources: https://www.barclays.co.uk/business-banking/borrow/loans/

3. NatWest

NatWest specialises in business loans including fixed and variable rate options. It offers quick funding, flexible tenures, and security options for UK companies needing capital or refinancing.

Loan and pricing details

• Min amount: £1,000
• Max amount: £10,000,000
• APR min: 11.6%
• APR max: 12.24%
• Loan durations: 1 to 25 years

Funding range note: from £1,000 to £10 million

Speed: Funds quickly available post-approval

Interest rate notes: APR starts at 11.60% for certain loan bands

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Risk-based pricing dependant on business profile

Personal guarantee: Personal guarantees may be required based on risk

Homeowner advantage: Can benefit from additional lending consideration

Services and sectors

• Products: term_loan, fixed_rate_loans
• Industries: Services, Technology, Health

Best for

• Customizable loan terms
• Businesses looking for fixed rate agreements

Pros

• Competitive fixed rates
• High loan limits

Cons

• Variable rate loans subject to market changes
• Usually requires personal guarantee

Sources: https://www.natwest.com/business/loans-and-finance/small-business-loan.html

4. Santander UK

Santander UK provides flexible business loans with options for fixed and variable rates. It is suitable for businesses seeking quick access, varying funding amounts, and competitive rates for different purposes.

Loan and pricing details

• Min amount: £5,000
• Max amount: Unknown
• APR min: 7.9%
• APR max: 23.7%
• Loan durations: Up to 25 years

Funding range note: from £5,000 to variable amounts

Speed: Typically processed within a week

Interest rate notes: Varies, starting as low as 7.9% for special terms

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Rates based on individual risk assessment

Personal guarantee: May be required

Homeowner advantage: Homeownership can strengthen application position

Services and sectors

• Products: term_loan, structured_finance
• Industries: Real Estate, Retail, Manufacturing

Best for

• Flexible payment terms
• Structured financing

Pros

• Dedicated relationship management
• Package for growing businesses

Cons

• Higher APR for variable rates
• Process can be lengthy for large sums

Sources: https://www.santander.co.uk/corporate/solutions/finance/business-loans

5. Standard Chartered

Standard Chartered provides financing options for business growth, including unsecured loans and overdrafts. It is suitable for UK companies seeking quick approvals and flexible or unsecured funding solutions.

Loan and pricing details

• Min amount: Unknown
• Max amount: Unknown
• APR min: 9.6%
• APR max: Unknown
• Loan durations: Flexible terms

Funding range note: Unknown

Speed: Approval within five working days

Interest rate notes: Interest rates are competitive, starting from 9.6%

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Risk-adjusted interest rates

Personal guarantee: May be avoided with sufficient business strength

Homeowner advantage: Not specifically required

Services and sectors

• Products: unsecured_business_loans, overdrafts
• Industries: Finance, Technology, Export

Best for

• International business operations
• Businesses needing quick approval

Pros

• Quick loan approval
• Wide range of products

Cons

• Unclear funding limits
• Documentation requirements

Sources: https://www.sc.com/en/wealth-retail-banking/sme-banking/

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. Consider matching your choice to your specific needs, whether it is a bank, broker, or specialist provider. This helps ensure the best support for your business stage and intended use.