Quick summary: who refinancing suits

Refinancing commonly helps businesses that want to:

• Reduce monthly repayments or secure a lower rate.
• Consolidate several facilities into one clearer repayment plan.
• Release equity from assets or free up cashflow.
• Move to a lender or product better suited to the company’s current situation.

Typical refinance requests we help with start from around £10,000 and go up to multiple millions. Response times vary but our partners often reply within hours during business days.

Get Started – Free Eligibility Check

1. Understanding business loan refinancing

Refinancing means replacing some or all of your existing borrowing with a new loan or facility. The goal is usually to secure better terms — lower interest, longer or shorter term, different security arrangements, or to consolidate several debts.

Refinance is different from taking new borrowing for expansion: it focuses on restructuring what you already owe. While it can reduce monthly pressure, it may increase total interest paid if you extend the term. Always weigh short-term relief against long-term cost.

Types of refinance solutions

Common refinance paths include:

• Term loan refinance – Replace an existing business loan with a new term loan at a different rate or term.
• Asset refinance – Refinance asset finance (machinery, vehicles) to release equity or improve rates.
• Invoice finance refinance – Move invoice finance facilities to a provider offering better advance rates or lower fees.
• Commercial mortgage refinance – Refinance property loans to release equity or reduce monthly payments.
• Debt consolidation – Combine overdrafts, credit lines and loans into a single structured facility for clarity and cashflow control.

Each route has different lender criteria and paperwork — our role is to identify which providers are likely a match for your situation.

2. Is refinancing right for your business?

Ask yourself what you want to achieve and how long your business horizon is. Common objectives include:

• Lower monthly repayments to ease cashflow.
• Reduce interest costs overall.
• Simplify multiple repayments into one facility.
• Release working capital held in assets or property.

Be cautious: extending the loan term to lower monthly payments can increase total interest. Also check for early repayment charges on your current facilities. If in doubt, our introductions can connect you with brokers who will outline trade-offs clearly.

Talk to specialists — Free Eligibility Check

3. Eligibility snapshot

While each lender differs, typical factors considered include:

• Trading history (usually at least 12–24 months for mainstream lenders).
• Annual turnover and profitability trends.
• Existing debt levels and repayment history.
• Security offered (assets, property) and any personal guarantees.
• Management experience and business plan for future cashflows.

Checklist: have these ready when you enquire:

• Recent accounts and management accounts.
• Loan statements and outstanding balances.
• Asset schedules and current valuations (if relevant).
• Bank statements (typically 3–6 months).

4. How the Fast Business Loans process works

Our process is designed to be fast and no obligation:

1. Complete a short enquiry detailing your business and the borrowing you want to refinance.
2. We match your details to lenders and brokers in our panel who specialise in refinance solutions for your industry.
3. A partner contacts you to discuss options and, if suitable, provides a quote or next steps.
4. You compare offers directly with lenders/brokers and choose the best fit.

Important: submitting an enquiry is not an application — it helps us match you with the right providers. Click here to start our quick form: Free Eligibility Check

What information you’ll need

• Outstanding loan amounts, interest rate and repayment schedule.
• Recent business accounts and management accounts.
• Details of any charges or guarantees on assets.
• Contact details and a brief reason for refinancing.

5. Comparing refinance offers: key factors

When you receive offers, compare them on:

• Interest rate and APR — headline rate is useful, but APR includes fees and gives a fuller picture.
• Arrangement and exit fees — setup charges and any early repayment penalties on your current deal.
• Term length — affects monthly cost and total interest.
• Repayment profile — interest-only options, seasonal payments or stepped payments.
• Security and covenants — what assets are required and any ongoing reporting requirements.

Tip: ask lenders for an example schedule showing monthly payments and the total cost over the term so you can compare like-for-like.

6. Benefits & risks of refinancing

7. Sector-specific refinancing scenarios

Different industries often need tailored refinance approaches. Examples:

• Construction: refinance equipment finance to release working capital for new projects.
• Hospitality: restructure seasonal cashflow peaks with a tailored repayment profile.
• Manufacturing: refinance machinery loans to take advantage of lower rates while upgrading equipment.
• Retail & e-commerce: consolidate overdrafts and short-term loans into a single term facility for predictability.

Fast Business Loans can match you with brokers who specialise in these sectors and understand the sector-specific underwriting criteria.

8. Example scenario (illustrative)

ABC Manufacturing had three facilities: an equipment loan, a merchant cash advance and an overdraft. Monthly repayments were unpredictable and cashflow was tight. After a short enquiry via Fast Business Loans, a broker proposed consolidating the facilities into one term loan with a slightly longer term but a lower combined monthly payment. The business improved cashflow, removed the merchant cash advance’s high fees, and scheduled predictable repayments — allowing them to invest in production capacity.

This example is illustrative. Outcomes vary by business and lender. See your options — Free Eligibility Check

9. Common questions about business loan refinancing

Can I refinance if my credit score has dipped?

Possibly. Different lenders have different risk appetites. Brokers in our panel may be able to help even with imperfect credit, but terms and rates will reflect perceived risk. We’ll try to match you with partners suited to your profile.

How quickly can a refinance complete?

Timescales vary: simple term loan switches can complete in a few weeks, while property refinance or more complex restructures can take longer. Your chosen lender or broker will advise estimated timelines after an initial review.

Will refinancing hurt my business credit?

Making an enquiry via Fast Business Loans does not affect your credit score. Lenders may perform credit or affordability checks if you progress to an application, and these checks can impact credit records.

Are valuations required?

Some asset- or property-backed refinances require valuations. Requirements depend on the asset, loan size and the lender’s underwriting rules.

Can I refinance government-backed schemes (CBILS/Bounce Back)?

It depends on the scheme terms and lender policies. Some lenders will refinance or restructure these facilities subject to specific rules — ask your broker about options.

Do I need professional advice?

For complex restructures or large commercial mortgages, getting independent financial or legal advice is sensible. Fast Business Loans introduces you to brokers and lenders who can provide detailed guidance.

10. Prepare for a strong enquiry

To speed up matching and improve the quality of responses, prepare:

• Copies of recent accounts and management accounts.
• Loan statements showing balances and any early repayment charges.
• Bank statements (last 3–6 months).
• Details of assets, property and any existing charges.
• A short summary of why you want to refinance and preferred outcomes.

When you submit these details via our short enquiry, we can match you more accurately and quickly.

Closing: next steps & important notes

Ready to explore refinancing options and compare real quotes? Complete our short enquiry and we’ll connect you with lenders and brokers who specialise in the solution you need. Remember: we’re an introducer — we don’t lend, and an enquiry is not an application.

Free Eligibility Check — Get Quote Now

For more detailed information on refinancing commercial loans, see our related guidance on refinance loans: refinance loans.