Quick summary

Refinancing business loans means replacing or restructuring existing borrowing to get a better rate, extend terms, consolidate multiple facilities or free working capital. Fast Business Loans connects businesses (minimum requests £10,000) with lenders and brokers who specialise in refinance solutions. Use our free enquiry to receive matched refinance quotes — it’s not an application and doesn’t affect your credit file.

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What is business loan refinancing?

Refinancing replaces one or more existing loans or finance facilities with a new arrangement. The new facility can be with your current lender or a different provider and may change:

• interest rate (lower monthly costs)
• term (longer payments, lower monthly outgoings)
• structure (consolidate multiple facilities into one)
• security (move from unsecured to secured, or vice versa)

Refinancing vs restructuring: refinancing typically means replacing debt with fresh borrowing; restructuring can include negotiated changes to an existing agreement. If you’re thinking about refinancing, start a free eligibility check to see matched options.

When refinancing makes sense for UK businesses

Lower monthly repayments

Switching to a lower interest rate or extending the term can cut monthly outgoings. Example: a manufacturer reduced monthly debt service after moving to a longer-term facility and reinvested the savings into stock.

Consolidate multiple facilities

Combine several loans, merchant cash advances or overdrafts into a single facility to simplify payments and reduce admin. Example: hospitality group consolidated three facilities into one loan with a clearer repayment schedule.

Release working capital

Refinancing secured borrowing — for example, reworking an asset-backed loan — can free cash for growth or seasonal needs. Example: a retailer refinanced an equipment loan to fund a new store fit-out.

Switch to fixed or more flexible rates

Move from variable to fixed rates for cost certainty, or choose a more flexible product aligned to cashflow. Example: a service business switched to a fixed-rate loan to stabilise budgets.

Illustrations are indicative only. Outcomes depend on lender terms and business circumstances.

How Fast Business Loans supports your refinance journey

Fast Business Loans acts as an introducer: we collect a short set of information and match your enquiry to lenders and brokers in our UK panel. Key points:

• We do not lend and do not give regulated financial advice.
• Our service is free and no obligation; you decide whether to proceed with any offer.
• We match your business to partners with experience in your sector to improve relevance and speed.
• Initial enquiries do not affect your business credit file.

Start your free eligibility check and we’ll match you with refinance specialists who can provide tailored quotes.

Step-by-step: from enquiry to offer

1. Submit a short enquiry — complete our simple form (under 2 minutes). This is not an application; it helps us match you. Get Started.
2. Smart matching — we connect you to vetted brokers or lender specialists suited to your sector and loan type.
3. Receive tailored options — partners contact you with indicative terms and next steps.
4. Compare and decide — review offers, ask questions, request full terms. If you accept, lenders will carry out the usual checks and request documentation.

Typical documents requested include company accounts, bank statements, and current loan statements. Complex cases may take longer; simple term-loan refinance can be completed in days to weeks depending on lender and paperwork.

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Types of borrowing businesses commonly refinance

Different facilities are commonly refinanced depending on objectives:

• Term loans — refinance to lower rate or extend term.
• Merchant cash advances — replace expensive MCA facilities with lower-cost loans where possible.
• Asset & equipment finance — restructure equipment loans or leases to improve cashflow.
• Invoice finance & factoring — switch providers or renegotiate terms to reduce fees.
• Commercial mortgages — remortgage to secure better rates or release equity.

For further detail and deeper options, read more about specialised refinance solutions on our partner resources or request matched lender advice. You can also explore dedicated information on refinance loans here: refinance loans.

Benefits & trade-offs to consider

Potential benefits

• Lower monthly repayments or overall interest cost
• Simplified administration through consolidation
• Improved cashflow and the ability to invest in growth
• Switch to more predictable repayment structures

Points to watch

• Early settlement or break fees on existing facilities
• Arrangement, valuation or legal fees from new lenders
• Longer term may increase total interest paid despite lower monthly payments
• Security requirements may differ and could affect directors

Important: Fast Business Loans is an introducer and does not provide regulated financial advice. Consider independent legal or financial advice where necessary before agreeing any refinance.

Eligibility snapshot & what lenders look for

Typical lender criteria include:

• Minimum trading history (often 12–24 months for many products)
• Turnover and profitability consistent with loan size
• Up-to-date company tax filings and accounts
• Bank statements showing trading performance
• Credit profile of the business and directors
• Security available, where required

Documents to prepare: recent management accounts, last 2 years’ statutory accounts (if available), recent business bank statements, and details of existing borrowing. If credit is challenged, alternative lenders or specialist brokers may still be able to help — a free eligibility check will show matched partners.

Ready to check eligibility? Get Started

Cost breakdown & illustrative savings

When comparing offers, look at the total cost of credit, not just the headline rate. Key elements include:

• Interest rate (fixed or variable)
• Arrangement, set-up or valuation fees
• Early repayment or break fees on existing debt
• Any monthly or annual facility fees

Illustrative scenario (example only): a business with a £100,000 outstanding loan at 9% APR refinancing to 6% APR could reduce annual interest by ~£3,000 before fees. Actual savings depend on new terms and any fees charged.

Always request a written breakdown of all costs from lenders before proceeding.

Case snapshots

These vignettes are anonymised examples to illustrate common outcomes; individual results will vary.

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Why UK companies choose Fast Business Loans

• Fast responses — short enquiry, rapid matching
• Sector specialists — partners that understand your market
• Transparent process — no obligation, no hidden fees from us
• Secure handling of your details and targeted sharing only to relevant partners

“The process was quick and we had relevant brokers calling within a day — helped us lower monthly payments.” — anonymised client example. Results vary by business and lender.

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Frequently asked questions

Can I refinance if my credit score has dipped?

Yes — some lenders and brokers specialise in cases where credit has recently declined. Approval depends on current trading performance, repayment history and the nature of existing debts. Submit a free enquiry to see which partners may consider your application.

Will submitting an enquiry affect our business credit file?

No. The Fast Business Loans enquiry is for matching only and does not create a credit footprint. Lenders may perform credit checks later when you choose to progress with a specific offer.

How long does it take to secure a refinance deal?

Timescales vary. Indicative offers can arrive within 24–72 hours for straightforward cases; completion depends on documentation, valuations and any legal processes and can range from a few days to several weeks.

Are there fees for refinancing through your partners?

Fast Business Loans does not charge for enquiries. Some brokers or lenders may charge arrangement, valuation or legal fees — these should be disclosed before you agree to proceed.

Can I refinance a government-backed loan?

Certain government-backed schemes have specific terms that can restrict refinancing. Our matched partners can advise on possible options based on your individual loan agreement.

What documents should I prepare before applying?

Prepare recent management accounts, last statutory accounts if available, business bank statements (3–6 months), existing loan statements and ID for directors. Having these ready speeds up the process.

Didn’t find your question? Get a free eligibility check and a matched specialist will contact you.

Ready to explore refinance quotes?

Refinancing can be the fastest way to reduce costs, simplify finance and free working capital. Our matching service is free, secure and no obligation. We typically handle enquiries for loans and finance from £10,000 upwards.

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Disclosure & next steps

Fast Business Loans is an introducer that connects businesses with UK lenders and brokers. We do not provide lending or regulated financial advice. Submitting an enquiry is not an application — it helps us match you to suitable partners. Always read lender terms carefully and consider independent legal or financial advice before committing to any finance arrangement.

Privacy and data handling: your information is shared only with partners relevant to your request. For more information, see our privacy policy on the site.