| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 6.0–15.0% | £1k–£250k | 12–60 mo | business |
Best For
Small business owners with a solid banking relationship who need quick funding for operational expenses.
Established UK-based businesses with a Metro Bank account looking for flexible financing solutions.
Metro Bank offers business loans ranging from £1,000 to £250,000 with APRs between 6.0% and 15.0%, available for terms of 12 to 60 months.
Pros & Cons
Watch Out
Requires a Metro Bank business account, which may limit options for those not already banking with them.
Full Review
With approval times between 1-5 days, the Metro Bank business loan is designed for efficiency, suitable choice for businesses needing urgent funds. The APR ranges from 6.0% to 15.0%, which can be a concern for those with lower credit scores, as they may end up closer to the maximum rate. Unlike some competitors, this loan comes with no early repayment charges, offering flexibility to pay off the loan sooner without penalties.
The £1,000 to £250,000 loan amount range caters to a variety of business needs, from small operational cash flows to larger projects. However, the requirement for a Metro Bank business account may restrict access for businesses seeking to switch lenders or those who prefer alternative banking options. Customer service reviews indicate a generally positive experience, but be aware of the bank's account and operational limitations.
While the loan's terms might seem attractive, businesses should assess their credit standing before applying. Those with a good credit score will find better rates than those with average or poor credit. Overall, this loan is established businesses already using Metro Bank's services.
What Borrowers Say
Borrowers generally report a smooth application process but caution about higher-than-expected APRs.
