Refinance Loans for UK Businesses

Quick summary: Refinance loans let businesses replace existing borrowing with new finance to reduce monthly payments, consolidate multiple debts, release equity or secure better terms. Fast Business Loans does not lend — we match UK companies (loans from £10,000+) with lenders and brokers who can offer suitable refinance solutions. Use our Free Eligibility Check to get matched quickly and without obligation: Free Eligibility Check.

Why refinance? Unlock breathing space for your business

Refinancing a business loan means replacing one or more existing facilities with new borrowing on different terms. Business owners refinance to stabilise cash flow, lower monthly repayments, consolidate multiple debts, release equity from business assets or free funds for growth. For many SMEs, a refinance can be the difference between struggling with spikes in repayments and having predictable, manageable costs.

• Stabilise cash flow and smooth seasonal peaks
• Reduce monthly repayments or extend loan terms
• Consolidate multiple facilities into one payment
• Release capital tied up in machinery, vehicles or property

Knowledge bomb: when interest rates or lender margins change, businesses that review their financing can often find materially better terms — but the right outcome depends on your sector, security and credit profile. To see options quickly, start a Free Eligibility Check.

How business refinancing works

Refinancing is usually straightforward, but there are important steps and checks. Here’s a typical process:

1. Review current facilities — check outstanding balances, interest rates, terms, early repayment charges and security.
2. Compare refinance products — secured vs unsecured, term length, repayment frequency and any arrangement fees.
3. Enquiry & matching — submit a short enquiry so we can match you to lenders/brokers most likely to help (this is not an application).
4. Application & underwriting — the chosen lender or broker completes affordability checks, valuations and credit assessments.
5. Settlement & new schedule — new lender settles old finance and you begin the new repayment plan.

Refinance solutions we see most

Different refinance products suit different goals and sectors. Below are the common options our partners arrange.

Term loan refinance

• Benefits: lower fixed repayments, predictable budgeting, possible lower rate.
• Risks/costs: arrangement fees, early repayment charges on original loan.
• Typical sizes/terms: £10k–£2m+, 1–7 years (varies by lender).
• Best fit: established SMEs with good trading history.

Asset refinance

• Benefits: release equity from equipment, vehicles or plant; frees cash without diluting ownership.
• Risks/costs: secured against assets; valuation and repossession risk if repayments fail.
• Typical sizes/terms: £10k–£1m+, often 2–5 years.
• Best fit: manufacturing, transport, construction, agriculture.

Invoice finance refinance

• Benefits: switch to a provider with better advance rates or lower fees; improve working capital timing.
• Risks/costs: transfer administration, creditor notice periods.
• Typical sizes/terms: facilities scale with turnover.
• Best fit: businesses with strong invoicing cycles (B2B).

Commercial mortgage refinance

• Benefits: lower mortgage rates, improved terms or raising capital against property.
• Risks/costs: valuation, legal fees, longer completion times.
• Typical sizes/terms: £50k–£5m+, 5–25 years.
• Best fit: businesses owning or purchasing premises.

Consolidation loans

• Benefits: single monthly payment, simplified admin, potential cost savings.
• Risks/costs: total interest cost may increase if term extended; watch fees.
• Typical sizes/terms: £10k–£1m+, terms 1–10 years.
• Best fit: firms juggling multiple credit lines or merchant facilities.

For more detail on business refinance terms and examples, read our in-depth guide to refinance loans.

Quick comparison table

Are you eligible?

Fast Business Loans is an introducer and does not lend. Lenders will typically assess these factors when considering refinance requests:

• Trading history and length of time in business
• Turnover, margins and recent profitability
• Existing debt levels and repayment history
• Security offered and any personal guarantees
• Industry sector and client concentration

Options exist for businesses with less-than-perfect credit or limited history, but terms may vary. To see real options tailored to your situation, complete our Free Eligibility Check — it takes under two minutes and won’t affect your credit score.

What it costs: rates, fees & risks to weigh up

Refinancing can save money, but you must compare total costs, not just headline rates. Typical items to check:

• Interest rates: can be fixed or variable; secured facilities often have lower rates.
• Arrangement fees: lenders may charge set-up or broker fees.
• Valuation, legal and settlement fees: common with property or secured loans.
• Early settlement charges: your current lender may apply break costs.

Questions to ask before refinancing:

• What is the effective annual cost including fees?
• Are there early repayment charges to my existing lender?
• Will security or personal guarantees be required?
• How will the change affect monthly cash flow and total interest paid?

Fast Business Loans does not provide financial advice. Always review terms carefully and consider professional advice if unsure.

How Fast Business Loans makes refinancing simple

We act as a fast, free introducer that helps you reach lenders and brokers suited to your needs. Our four-step approach:

1. Complete a short enquiry — it’s not an application, just information to match you.
2. We match your request to vetted partners with relevant expertise.
3. Partners contact you with tailored quotes and next steps.
4. You decide whether to proceed — there’s no obligation.

“We refinanced our equipment finance through a broker introduced by Fast Business Loans — cut monthly payments by 20% and freed cash for stock.” — Owner, regional manufacturing SME (sample testimonial)

Ready to compare options? Get Quote Now — it’s free and quick.

Preparation checklist: documents & data to gather

Having these ready will speed up the matching and lender response:

• Latest management accounts or annual accounts
• Business bank statements (last 3–6 months)
• Details of existing loans and settlement figures
• Asset valuations (if seeking asset refinance)
• ID and proof of address for company directors

Tip: Prepared documents help brokers deliver firm quotes faster and reduce back-and-forth.

Case snapshot: refinancing in action

Regional wholesale distributor — challenge: high monthly equipment repayments hampering stock purchases.

• Existing equipment finance: £250,000 at 11% (term remaining 3 years)
• Outcome after refinance: new asset refinance at 7.5%, extended term to 5 years
• Impact: monthly repayments reduced by ~22%, immediate cash freed to increase inventory and sales.

Individual results vary. To explore what your business might save, start a Free Eligibility Check.

Frequently asked questions

Can I refinance if my business has seasonal cash flow?

Yes. Lenders often accept seasonal patterns if you provide bank statements and forecasts showing how you manage quieter months.

Will refinancing affect my credit score?

Submitting an enquiry with Fast Business Loans does not affect your credit score. Lenders may perform credit checks if you choose to proceed with an application.

How long does refinance approval take?

Simple unsecured refinances can complete within days. Secured loans and commercial mortgages typically take several weeks due to valuations and paperwork.

Can I refinance a government-backed loan?

Eligibility depends on the loan type and lender policy. Discuss specifics with a broker via our matching service to see available options.

What security do lenders usually require?

Security varies: asset refinance is secured against equipment; commercial mortgages secure property; some term loans are unsecured but may cost more and require personal guarantees.

Does Fast Business Loans charge me?

No — the matching service is free for businesses. We are paid by brokers or lenders when a lead converts, so there’s no cost to submit an enquiry.

Ready to explore refinance options?

If you want to reduce repayments, consolidate debt or release equity, we can help you compare suitable lenders and brokers quickly. Complete a short form now — it takes under two minutes and won’t affect your credit score: Start Your Free Eligibility Check.

Compliance reminder & disclaimers

Fast Business Loans is an introducer that connects businesses with lenders and brokers. We do not provide lending products or financial advice. All offers depend on lender checks and affordability assessments. Information on this page is for guidance only and is not a loan offer or financial recommendation.

– Q: What is a business refinance loan and how does it work?
A: It replaces one or more existing facilities with a new loan—often to lower repayments, consolidate debt, release equity or secure better terms—with the new lender settling the old finance.

– Q: Can I consolidate multiple business loans into one?
A: Yes, debt consolidation refinance can combine several credit lines into a single monthly payment, though extending the term may increase total interest paid.

– Q: Will checking my options with Fast Business Loans affect my credit score?
A: No—our free eligibility enquiry is not an application and won’t impact your score; lenders may run checks only if you decide to proceed with an offer.

– Q: How quickly can a business refinance complete?
A: Unsecured or simple consolidations can complete in a few days, while secured and commercial mortgage refinances may take several weeks due to valuations and legal work.

– Q: Can I refinance if I have bad credit or limited trading history?
A: Yes—some lenders will consider less-than-perfect credit or shorter histories, though pricing and terms will reflect affordability and risk.

– Q: Do I need security or a personal guarantee to refinance a business loan?
A: It depends on the product—asset and property refinances are secured, while many term loans are unsecured but may require a director’s personal guarantee.

– Q: What costs and fees should I consider before refinancing?
A: Compare the total cost including interest, arrangement or broker fees, valuation and legal costs, settlement charges, and any early repayment fees on your current finance.

– Q: What documents do I need to refinance my business loan?
A: Expect to provide recent bank statements, management or annual accounts, details and settlement figures for existing loans, director ID/proof of address, and asset valuations if applicable.

– Q: Can I refinance a Bounce Back Loan or other government-backed facility?
A: Eligibility varies by scheme and lender policy, so discuss your specific facility via our matching service to see what options are available.

– Q: How do I start, and does it cost anything to use Fast Business Loans?
A: Complete our short enquiry (not an application) to be matched free with relevant UK lenders and brokers for refinance from around £10,000+, then compare offers with no obligation.