Why refinance a business loan?

Refinancing an existing borrowing can deliver practical benefits for your company when done for the right reasons. Common motivations include:

• Lower monthly repayments or a lower interest rate to improve cash flow.
• Consolidate multiple debts into one facility for simpler budgeting.
• Release equity tied up in property or assets for growth investment.
• Switch from a short-term expensive facility to a longer-term, affordable product.
• Replace a variable rate with a fixed rate for payment certainty.

How Fast Business Loans helps

We are an introducer: we don’t lend and we don’t give regulated financial advice. Instead we connect incorporated businesses and limited companies looking for facilities from £10,000 upwards with lenders and brokers who specialise in business refinance.

Our simple 4-step process

1. Quick enquiry: Complete a short form with your business details (takes around 2 minutes).
2. Tailored matches: We match you to lenders and brokers suited to your sector and needs.
3. Rapid contact: Partners contact you directly to discuss terms and any documents required.
4. Compare & decide: Compare multiple offers and choose the one that suits your goals — no obligation to proceed.

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Understanding refinance options

Refinancing comes in many shapes. Which is best depends on your business size, assets and the type of borrowing you hold today.

Term loan refinance

Replace an existing business loan with a new term loan to lengthen the repayment period, reduce monthly repayments or secure a lower rate. Can be secured or unsecured depending on lender appetite.

• Benefits: predictable monthly payments, potentially lower APR.
• Risks: may require security or personal guarantees; early repayment fees may apply.

Asset & equipment refinance

Refinance asset finance or leasing arrangements (sale-and-leaseback, refinance outstanding hire purchase). Useful where equipment or vehicles are releasing cash.

Invoice & cashflow solutions

For businesses with slow-paying clients, switching to invoice finance or a revolving facility can smooth cash flow and replace expensive short-term borrowing.

Commercial mortgage refinance

Refinance owner-occupied or investment property mortgages to access better rates, release equity or consolidate property debt.

Specialist refinance

Merchant cash advance, VAT loans, or energy project finance each require specialist lenders — we match you to those who understand these products.

For a deeper guide to refinancing business borrowing see our detailed refinance loans resource: refinance loans.

Are you eligible?

Eligibility varies by lender and product. Typical criteria lenders consider include:

• Minimum trading history (often 12–24 months for standard term lenders).
• Turnover and profitability versus the loan size requested.
• Credit history and existing arrears or insolvency events.
• Available security (property, assets) or willingness to offer personal guarantees.

Documents you’ll commonly need

• Recent management accounts or full statutory accounts.
• Business bank statements (typically 3–6 months).
• Details of existing loan agreements and repayment schedules.
• Confirmation of directors and ownership structure.

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We use a soft search for initial matching so your credit score is not affected at the enquiry stage. Full lender checks may follow if you proceed with a specific offer.

Costs & considerations when refinancing

Refinancing can save money, but there are costs to factor in:

• Early repayment charges: Some lenders charge a fee to close an existing facility.
• Arrangement and facility fees: Upfront fees for the new loan.
• Valuation and legal costs: Especially for secured loans or property mortgages.
• Break costs: For fixed-rate or swap arrangements on large commercial facilities.

Always ensure you can afford the repayments. Late or missed payments can affect your credit profile and business operations.

Refinance use cases across industries

Different sectors refinance for different reasons. A few examples:

Construction

A contractor refinanced a short-term overdraft into a longer-term term loan to free working capital for materials and payroll during seasonal slow periods.

Hospitality & retail

Pubs, restaurants and retailers often refinance to fund refurbishments or to replace expensive short-term facilities with affordable longer-term loans.

Manufacturing & engineering

Manufacturers refinance asset finance to release equity in plant and invest in modern equipment to boost productivity.

Whatever your sector, we aim to match you with partners who understand your industry needs and the typical finance structures that work best.

Step-by-step timeline: from enquiry to funds

1. Submit enquiry (2 minutes).
2. Matched lenders/brokers contact you (hours–1 business day typical).
3. Formal applications and documentation requested (1–2 weeks depending on lender).
4. Offer issued and legal checks (1–4 weeks).
5. Funds released on completion (timing depends on the product and lender).

Timescales vary by lender, product and how quickly documents are provided.

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Why use Fast Business Loans rather than going direct?

• Broader panel: We connect you to a wider set of lenders and brokers than you might find alone.
• Specialist matching: We match by sector, loan type and company profile — saving time and improving your chances of a suitable offer.
• No cost to you: Our service is free for businesses; we are paid by partners if you take finance through them.
• Faster comparison: Receive multiple approaches and compare real offers rather than researching dozens of providers yourself.

Free Eligibility Check — See Your Options

Refinance FAQs

Can I refinance if my credit history isn’t perfect?

Many lenders consider a range of credit profiles. Matching to specialist lenders or brokers improves your chances. Start with a free eligibility check to see which options may be available.

Will refinancing affect my credit score?

An initial match and soft eligibility check will not affect your credit file. Lenders may perform a hard credit check during full application — you’ll be told before this happens.

How soon can I refinance an existing facility?

It depends on any early repayment penalties and the lender’s processes. Some short-term facilities can be refinanced quickly; large commercial restructures may take longer.

What is the minimum loan size you handle?

We organise business finance from approximately £10,000 and upward. If you need less than this, speak to potential partners directly to check suitability.

What happens after I submit the enquiry form?

We match your business to suitable lenders/brokers. They will contact you to discuss terms and any documentation needed. There is no obligation to proceed with any offer you receive.

Start Your Free Eligibility Check

Next steps & compliance statement

If refinancing could save your business money or improve cash flow, start with a quick enquiry. We’ll match you to lenders and brokers who can help you explore options — there’s no cost to start and no obligation to proceed.

Fast Business Loans is an introducer and does not provide lending or regulated financial advice. All offers are subject to lender assessment and terms. Always compare the total cost of credit and confirm fees and break costs with the lender before you commit. Consider independent professional advice where appropriate.

Free Eligibility Check — Get Matched Today

Contact & further information

Questions? Email info@fastbusinessloans.net or begin your enquiry online to be matched with lenders and brokers best placed to help your business refinance existing borrowing.