| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 6.0–15.0% | £1k–£250k | 12–60 mo | business |
Best For
UK-based businesses with previous relationships with Clydesdale or Yorkshire Bank, needing flexible loan amounts.
Established UK-based businesses looking for a loan between £1,000 and £250,000 that have previous banking ties with Yorkshire Bank.
The Yorkshire Bank Business Loan is offered by Virgin Money Business, providing loans from £1,000 to £250,000 at an APR of 6.0% to 15.0% and terms between 12 to 60 months.
Pros & Cons
Watch Out
Applicants must have a previous banking history with Clydesdale or Yorkshire Bank, which may exclude new businesses.
Full Review
At 6.0% to 15.0% APR, the Yorkshire Bank Business Loan provides a broad range of funding from £1,000 to £250,000. This flexibility is beneficial for various business needs, whether for expansion or cash flow management. Approval times are relatively fast, taking 1-5 days, which is a plus for those in urgent need of capital.
The application process can be completed online or in-branch, preferences. However, the requirement for prior banking history may limit access for newer businesses. be aware that many might end up at the higher end of the APR spectrum, especially if their credit score is not strong.
Customer service reviews are mixed, with some users noting delays in communication during the application process. It’s advisable for applicants to have their paperwork in order and be prepared for a thorough credit assessment. Overall, this loan can be established businesses but may not suit startups or those without an existing relationship with the bank.
What Borrowers Say
Borrowers generally appreciate the speed of approval but express concerns over customer service and interest rates.
