No arrangement fees on term loans up to £50,000

We’re committed to supporting our new and existing loyal business customers by making finance more accessible. With no arrangement fees on term loans up to £50,000, we’ll help you save money as you look towards making your vision a reality. For example, on a £50,000 term loan, you could save £1,250* on the cost of borrowing.

*This saving of £1,250 is calculated on the basis of a standard 2.5% arrangement fee being taken on a £50,000 business term loan.

All lending is subject to status. Applicants must be aged 18 or over and borrowing must be for new business purposes. Available to small business customers who have a telephone based relationship manager or account management team and have an annual turnover of up to £2m.

Terms and conditions apply. The no arrangement fees on term lending to £50,000 applies to new borrowing only for new and existing business banking customers.

LIBOR Cessation

The Bank of England and the FCA have reinforced the message that market participants should not rely on LIBOR's continuation beyond 2021 and must take action now to remove dependence on LIBOR before then.

The London Interbank Offered Rate or ‘LIBOR’ is used in the calculation of interest costs for some of our customers to whom we provide loans.

During 2020 The Bank of England and the FCA have reiterated that neither banks nor their customers should rely on LIBOR's continuation beyond 2021 and must take action now to remove dependence on LIBOR before then.

We are currently preparing for this change and will be contacting customers who hold LIBOR loan products in the first half of 2021 to discuss their options for replacing LIBOR with an alternative reference rate ahead of the deadline.

We are in the process of producing FAQs to support customers during LIBOR transition.

UK Finance have created a handy guide for businesses, visit their website to read more about the discontinuation of LIBOR. (opens in a new window)