Part of the Humber LEP network:

Your gateway to finding finance, advice and support for starting or growing your business in the Humber region.

Business Support Helpline: 0300 456 3565

Bank Loans

A bank loan in the form of cash, that you borrow and repay over an agreed length of time. As well as repaying the amount you’ve borrowed, you normally have to pay interest on a loan. The amount will depend on:

The interest rate may be:

Loans are generally suitable for:

It’s not a good idea to take out a loan for ongoing expenses – you might find it difficult to keep up repayments.

Disadvantages include:

What banks look for when lending money to businesses.

The British Business bank is a government funded organisation that helps link businesses at all stages with commercial banks.