Refinance Business Loans: Compare UK Options Fast

Summary: Refinance business loans can reduce monthly repayments, consolidate multiple debts and free up cash flow. Fast Business Loans is a free introducer service that matches UK companies with lenders and brokers who specialise in refinancing commercial borrowing from approximately £10,000 upwards. Use our quick, no-obligation Free Eligibility Check to see suitable options and get matched with the right provider.

Free Eligibility Check

Why UK Businesses Refinance Existing Borrowing

Refinancing is the process of replacing one or more existing business borrowings with a new facility that better fits current needs. Businesses choose to refinance for practical reasons: to lower monthly repayments, extend terms, combine multiple loans, or swap expensive short-term debt for a longer-term solution.

• Lower monthly repayments after interest rate changes.
• Consolidate multiple facilities into a single, simpler payment.
• Turn short-term or high-cost borrowing into longer-term, affordable debt.
• Release equity or free up working capital for growth or investment.
• Avoid looming balloon payments or refinance before restrictive covenants bite.

If you’re considering refinancing, a quick way to check options is to start a Free Eligibility Check — it’s fast and doesn’t affect your credit file.

How Business Loan Refinancing Works

Step-by-step refinancing process

1. Review current facilities — list balances, rates, repayment schedules and any early repayment charges (ERCs).
2. Gather recent financials — accounts, management information and bank statements.
3. Get matched with lenders or brokers who specialise in your sector and loan size.
4. Compare indicative offers — term, APR, fees, ERCs and security requirements.
5. Choose the best option and follow the lender’s onboarding process to complete the refinance.

What lenders evaluate

• Company turnover and profitability.
• Trading history and recent performance trends.
• Existing security and assets available for backing the facility.
• Director credit history and repayment reliability.
• Sector risk and customer concentration.

Fast Business Loans performs a soft, credit-safe pre-screen only with your permission. Formal credit checks are carried out later by the lender you choose.

Refinance Solutions We Can Help You Access

We don’t provide loans ourselves. Instead, we connect limited companies and SMEs to lenders and brokers offering refinancing products across a wide spectrum. Typical refinance routes include:

Unsecured refinance loans

Suitable for businesses without available property or asset security. Refinance sizes vary, typically from around £10,000 up to several hundred thousand depending on lender appetite and trading performance.

Secured & asset-backed refinancing

Using property, machinery, or receivables to secure better rates or larger loan sizes. Asset-backed refinance can reduce cost and extend terms.

Specialist refinance options

• Invoice finance and factoring to replace overdraft or short-term borrowing.
• Asset finance refinancing (machinery, vehicles).
• Bridging refinance for short-term property or development needs.

To learn more about specific product types, see guidance on refinance loans at our dedicated page about refinance loans.

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What Sets Fast Business Loans Apart

Fast Business Loans simplifies the search for refinancing. Our role is to introduce your business to lenders and brokers who can help. We focus on speed, relevance, and clarity.

Trusted matching network

We maintain relationships with a broad panel of UK finance providers. Matches are made based on sector experience, product fit and likelihood of a good outcome for your business.

Sector-savvy matchmaking

We consider your industry, trading profile and funding purpose to connect you with partners who understand your market — whether construction, hospitality, manufacturing, transport or other commercial sectors.

Benefits of Refinancing Through Our Panel

Rates, terms and approval depend on your circumstances. We’ll help you understand indicative costs so you can compare offers fairly.

When Refinancing Might Not Be Right

Refinancing is not always the best choice. Consider these potential downsides:

• Early repayment charges (ERCs) may offset savings on a new loan.
• A longer term can lower payments but increase total interest payable.
• Secured refinancing puts assets at risk if repayments are missed.
• Businesses with significant arrears or unresolved tax liabilities may face limited options.

If you’re unsure, request a match and speak to an expert via our network — an introduction is free and non-binding.

Eligibility Checklist: Is Your Business Ready?

Typical information lenders request includes:

• Company name, registered number and time trading.
• Annual turnover and recent management accounts.
• Outstanding borrowing balances and repayment schedules.
• Details of assets you’re willing to offer as security (if any).
• Director details and recent credit history.

Many lenders consider businesses with clear trading history and reasonable turnover. If you’re borderline, our panel includes brokers who work on complex credit cases.

Start Your Free Eligibility Check

What to Prepare Before You Apply

Documents & data

• Company accounts for the last 1–3 years (if available).
• Recent management accounts and cash-flow forecasts.
• Business bank statements (typically 3–6 months).
• Details of current loans, leases and any outstanding tax liabilities.
• Valuations for assets proposed as security (property, vehicles, machinery).

Improving approval odds

• Ensure company records and filings are up to date.
• Resolve or agree plan for any HMRC or creditor arrears.
• Review director credit records and correct any inaccuracies early.

Once you have these ready, complete our short enquiry to get matched quickly.

Fast Business Loans’ Simple Enquiry Process

Our process is built to be quick and transparent:

1. Complete a brief online enquiry (takes under 2 minutes).
2. We match you with lenders/brokers suited to your needs.
3. Partners contact you with indicative offers or next steps.
4. Compare, decide and proceed with the lender you choose.

Submitting an enquiry is free, confidential and does not affect your credit score. Submit your enquiry and a broker or lender will typically respond quickly.

Case Snapshot: Refinancing in Action

Example (anonymised): A UK manufacturing SME had three separate loans and an expensive overdraft. After a Free Eligibility Check and introductions to two specialist brokers, the company consolidated all facilities into a single secured refinance loan. Monthly repayments reduced by £1,200 and cash flow improved, allowing the business to restart a delayed production contract. This is an illustrative example; outcomes vary by case.

Frequently Asked Questions

Ready to Explore Business Loan Refinancing?

Fast Business Loans makes refinancing simpler by matching your business to the lenders and brokers most likely to help. There’s no cost to use our service and your enquiry won’t appear on your credit file.

Start Your Free Eligibility Check
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Important notice: Fast Business Loans introduces businesses to a panel of lenders and brokers and does not provide loans or financial advice. Eligibility, terms and approval are subject to lender checks and status. This content is for information purposes only and is not financial advice. Please read product terms carefully before proceeding.

– What is a business loan refinance?
A: A refinance business loan replaces existing borrowing with a new UK facility to lower monthly repayments, consolidate debt, or extend terms to improve cash flow.

– Can I consolidate multiple loans and an overdraft into one payment?
A: Yes—our UK lender and broker panel offers consolidation refinancing so you can combine several facilities into a single, simpler repayment.

– How much can I refinance in the UK?
A: Typical refinance amounts start from around £10,000 and can extend much higher depending on trading performance, security and lender appetite.

– Do you lend directly or give financial advice?
A: Fast Business Loans is a free introducer, not a lender or adviser, connecting UK companies with suitable lenders and brokers.

– Will submitting the Free Eligibility Check affect my credit score?
A: No—the enquiry uses a soft, non-impacting review, and any hard checks are only done later by your chosen lender with consent.

– Is your enquiry form a loan application?
A: No—it’s an information-only enquiry used to match your business with the most suitable UK lenders or brokers, with no obligation to proceed.

– How quickly can a refinance complete?
A: Unsecured refinances can complete in days, while secured or property-backed cases typically take longer, often several weeks.

– Do I need security, or are unsecured options available?
A: Both unsecured and secured/asset-backed refinancing options are available, depending on your profile, loan size and goals.

– What documents do I need to start a refinance?
A: Be ready with recent accounts, management information, 3–6 months’ bank statements, details of current borrowing, and asset valuations if offering security.

– What costs and risks should I compare when refinancing?
A: Compare APR, term, fees and any early repayment charges (ERCs), and remember longer terms can lower monthly costs but increase total interest paid.