Business Loan Refinance — Compare UK Options Fast

Summary: Refinancing can lower monthly repayments, reduce overall interest, or consolidate multiple business debts into a single, more manageable facility. Fast Business Loans doesn’t lend — we match limited companies and SMEs (loans from £10,000+) to brokers and lenders that specialise in refinancing. Complete a quick, no-obligation Free Eligibility Check and we’ll connect you with the partners most likely to help.

What is business loan refinancing?

Business loan refinancing is replacing one or more existing business debts with a new facility that better suits your needs. The goal is usually to reduce interest costs, extend or shorten term, consolidate multiple payments, free up cash flow or change from a variable to a fixed rate. Refinancing is a restructuring action — not a loan product in itself — and outcomes vary by lender, loan type and business circumstances.

Why UK businesses choose to refinance

Refinancing can deliver several practical benefits when done for the right reasons:

• Lower monthly repayments: By extending term or securing a lower rate, monthly costs can fall, improving short-term cash flow.
• Reduce overall interest paid: Switching to a cheaper lender or consolidating higher-rate products can reduce lifetime interest.
• Consolidation & simplification: One monthly payment is easier to manage than several due dates and lenders.
• Access better terms: Improved covenant, security or trading performance can unlock longer terms or larger facilities.
• Release headroom: Refinancing can free up borrowing capacity for growth or working capital.

Get Your Free Eligibility Check — it takes less than 2 minutes and doesn’t affect your credit record.

When does refinancing make sense?

Consider refinancing when one or more of the following applies:

• Current interest costs have risen or are higher than market alternatives;
• You have several small facilities that are expensive and administratively heavy;
• A large balloon or maturity date is approaching and you want to replace it with a smoother repayment profile;
• Your business credit profile or profitability has improved since you took the original loan.

Example: A manufacturing company with three loans and a hire-purchase agreement consolidated all into a single term loan with a lower blended rate, cutting monthly outgoings and simplifying cashflow management.

Types of business debt you can refinance

Most commercial lenders and brokers will consider refinancing:

• Term loans and bank facilities
• Asset and equipment finance
• Merchant cash advances (subject to lender appetite)
• Invoice finance facilities
• Commercial mortgages (in some cases)

We connect you with partners who specialise in your sector — for example construction, hospitality, manufacturing, logistics and more. For more background on refinance solutions see our focused guide to refinance loans.

Refinance vs consolidation vs new loan

How they differ:

• Refinance: Replace an existing loan with another — often to improve rate or term.
• Consolidation: Combine multiple debts into a single facility; consolidation is often a form of refinancing.
• New loan: Additional borrowing to fund growth; may sit alongside existing facilities rather than replace them.

Which is best depends on your goals: lower monthly repayments, lower total cost, simplification, or raising new capital. We can help you explore the right route when you submit a short enquiry: Free Eligibility Check.

Eligibility & how lenders assess applications

Lenders assess risk using a combination of business and director information. Typical criteria include:

• Minimum trading history (often 12+ months for many lenders);
• Annual turnover and net profitability;
• Existing debt profile and affordability;
• Security offered (charged assets or property) and any personal guarantees;
• Bank statements and management accounts showing cashflow strength.

Fast Business Loans matches your enquiry to the lenders/brokers most likely to accept your profile. Start with a quick check: Get Quote Now.

What will it cost? Rates, fees and terms

Indicative guidance (for illustration only):

• Interest rates vary widely by product and risk profile — from low single digits for well-secured term facilities to higher rates for unsecured or specialist/refinance products.
• Arrangement or origination fees are common (a typical range might be 0.5%–3% of the facility, dependent on lender and loan size).
• Early repayment charges may apply on some existing loans — factor these into any refinance decision.
• Broker fees may be payable by the lender or by the borrower; we’ll highlight known fees when connecting you.

All figures are indicative — final offers are subject to status, affordability and lender terms.

How our refinance matching works

We make the process simple and fast:

1. Submit a short enquiry (less than 2 minutes) via our online form — Free Eligibility Check.
2. We match your business to lenders and brokers on our panel who specialise in refinance and understand your sector.
3. Partners contact you with indicative quotes or to request documents and conduct affordability checks.
4. You review offers, decide who to proceed with and complete lender paperwork directly — there is no obligation to accept any offer.

Submitting an enquiry is not an application and will not show on your credit file. Lenders may carry out credit checks later during the formal application process.

Documents to have ready

Having the following available will speed up matching and underwriting:

• Recent company accounts (last 1–3 years) or management accounts;
• Business bank statements (typically 3–6 months);
• Schedule of existing debts (balances, rates, monthly payments, maturities);
• Details of security offered (assets, property) and any existing charges;
• Director ID and proof of address; corporate documents (certificate of incorporation) if requested.

Risks, trade-offs and alternatives

Refinancing can be beneficial but there are trade-offs to consider:

• Arrangement and exit fees may offset savings — always run the numbers;
• Extending term can lower monthly payments but increase total interest paid;
• Some lenders may require personal guarantees or additional security;
• Refinancing does not fix underlying cashflow problems — consider operational changes or other funding types if liquidity is a core issue.

Alternative routes include invoice finance, asset finance, overdrafts, or arranging a growth facility. Our partners can explain suitable alternatives when they contact you.

Why partner with Fast Business Loans for refinance?

• Speed: Quick matching — submit a short enquiry and receive contact quickly.
• Sector expertise: We match you to partners who understand construction, hospitality, manufacturing, logistics and more.
• No fee to you: Our service is free for business owners — there’s no charge to submit an enquiry.
• Choice: Compare multiple solutions and choose the one that fits your goals.

Ready to see what options are available? Start Your Enquiry now — quick, free and obligation-free.

Success stories (illustrative)

Construction contractor, Manchester: Consolidated three facilities into one term loan, reduced monthly payments by 25% and freed cash for new tenders. (Illustrative example — results vary.)

Independent café group, Bristol: Replaced an expensive merchant cash advance with a lower-rate term facility — improved working capital through seasonal trading. (Illustrative example only.)

Refinance FAQs

Will submitting an enquiry affect our credit score?

No — completing Fast Business Loans’ enquiry is non‑impacting. Lenders may perform credit checks later if you proceed with an application.

How long does refinancing take?

Timescales vary. Simple, unsecured refinances can complete in under two weeks once documentation is provided. Secured or complex cases may take longer.

Do lenders always require security or personal guarantees?

Security and guarantee requirements depend on loan size, lender policy and business profile. Some unsecured options exist, but larger or cheaper facilities commonly require security and/or guarantees.

Can I refinance more than one loan at the same time?

Yes — consolidation is a common refinance purpose. Provide a full schedule of existing debts so partners can propose consolidated solutions.

What is the minimum loan size you arrange?

Our partners typically work with facilities from around £10,000 upwards. We don’t work with smaller micro-loans or consumer products.

We were declined elsewhere — can you still help?

Possibly. Because we work with a wide panel of lenders and brokers, there may be alternative routes available. Complete a brief enquiry and we’ll identify suitable partners.

Ready to explore your refinance options?

Complete our quick enquiry to get matched with lenders and brokers who can provide competitive refinance quotes. No cost, no obligation, and no impact on your credit score: Get Your Free Eligibility Check.

– What is business loan refinancing?
Business loan refinancing replaces one or more existing business debts with a new facility to lower costs, simplify repayments, or secure better terms.

– How does Fast Business Loans’ refinance matching process work?
Complete a quick Free Eligibility Check, we match your profile to suitable UK lenders and brokers, they contact you with quotes or requests for documents, and you choose whether to proceed with no obligation.

– Will submitting a refinance enquiry affect my credit score?
No—our enquiry is a matching step that doesn’t affect your credit score, though lenders may run credit checks later if you proceed.

– How much can I refinance and what’s the minimum loan size?
Our partners typically consider refinance facilities from around £10,000 upwards, with upper limits dependent on your financials, security, and sector.

– What types of business debt can I refinance?
You can usually refinance term loans, asset and equipment finance, merchant cash advances, invoice finance, and in some cases commercial mortgages.

– Can I consolidate multiple business loans into one monthly payment?
Yes—consolidation is a common refinance goal that can streamline cash flow and may reduce your blended monthly outgoings.

– How long does business loan refinancing take in the UK?
Simple unsecured refinances can complete in under two weeks once documents are provided, while secured or more complex cases may take longer.

– Do lenders require security or a personal guarantee?
Requirements vary by lender and risk, but larger or cheaper facilities commonly need security and/or a director’s personal guarantee, while some unsecured options exist.

– What documents do I need to start a refinance?
Have recent accounts or management accounts, 3–6 months of business bank statements, a schedule of existing debts, details of any security, and director ID/address ready.

– What costs and fees should I expect when refinancing?
Expect interest charges plus possible arrangement/origination fees (often 0.5%–3%), potential early repayment charges on your current loan, and broker fees depending on the lender.