R&D Tax Claims

Dive into our latest business blog post and discover insights you won't want to miss. Enjoy the read!

For assistance with R&D, Capital Allowance Claims, or Small Business Loans, please fill out the form and indicate your preferred contact method. Thank you.

How to Get a Small Business Loan

  • Home
  • /
  • How to Get a Small Business Loan
Date Published: February 3, 2022
How to get a small business loan - Photo of a business woman in front of her stock of apparrell - Hamilton Wood and Company Birmingham Manchester (1)

Plenty of people ask us tips to get a business loan, and so in this quick 5-minute article, we will answer this question.

Firstly, we ought to understand if you’re yet to begin running a business and searching for a start-up loan, or if you are an active company in search of a small business loan.

Although these situations might seem similar, they are really vastly different, as are the conditions and measures creditors use to decide on whether they will lend you the money.

Although Hamilton Wood and Company only provides loans to companies already trading beyond the twelve months mark, we can point you in the correct direction if you’re only just starting out.

We do not provide Start-Up Loans!

So, in the event that you’re here searching for a Start-Up Loan, you ought to pay a visit to the fantastic Start-Up Loan Company.

They can help those just starting out on their business journey with loans of up to £25,000 however, the average amount awarded is in the £6000-£12000 range.

The beauty of their scheme is that it’s backed by the Government and the loan APR’s (or cost of borrowing) is low too.

If you’re here as a business already trading past the one year stage, and you are searching for flexible small business loans, we can certainly help you.

How can I find the best small business loan - Photo of a pretty business woman on the phone in her shop - Hamilton Wood and Company London Manchester (1)

How to Get the Best Small Business Loan in the UK

For virtually every small business, obtaining affordable credit is vital for a number of reasons, it helps you access the funds your company needs to scale up, invest in new apparatus, improve available working capital and lots of other reasons covering anything from helping to cover wages should there be a temporary gap in available money, to paying VAT bills etc.

Among the other questions, we frequently get asked over and over again is ‘How can I find the best business loan‘ and this quick post tries to make clear the commercial finance space a little bit for you, our clients.

This post provides a lot of information you might struggle to get anywhere else so let’s dig in.

If your company is planning to get the most affordable business loan it can, then it seems sensible to undertake just a bit of prep work and planning during the weeks leading up to when you apply, even though we appreciate this isn’t always feasible.

  • Make certain all of your current outstanding invoices are paid and up-to-date.
  • Make sure all essential bills have been paid off e.g. those that will hit your credit score
  • Make sure that there has been a good inflow of cash to your bank account leading up to when you apply

Affordability is one of the major areas a lender will concentrate on in relation to granting your loan or not.

The irony is that those who are the best prospective customers for loans are frequently those who don’t want a loan, and the ones who want that loan sometimes have a more challenging time trying to secure one.

It’s true, we live in a world of opposites.

How to qualify for a small business loan - Photo of a business man at an Apple Mac computer - Hamilton Wood and Company Leeds Manchester (1)

How to Get a Business Loan UK

The main thing a lender needs to be sure of is that the money they lend you will be paid back and that you won’t default or run for the hills with their money.

  • Credit responsibly employed might help your company grow.
  • Credit used unwisely could put it in the ground.
  • Credit is a business tool, nothing more.

Bad debtors and businesses that have used credit unwisely can finish up struggling with a downward spiral on a number of fronts.

To begin with, when you have not repaid previous loans, don’t be surprised if your loan provider insists on increased APR’s in order that they stand a chance of recovering money from you.

Equally, they can be keener to protect the loan against assets that you own and that they can recover in case you default.

And so, the ability to obtain the funds your organization requires at a reasonable and affordable rate is key to keep the cogs in the engine of your small business ticking over smoothly; and here is where we could help you.

There are lots of Providers offering ‘quick Finance’ but all that glitters is not precious metal.

You’ll find quick company loans often feature higher APR’s, and APR’s are reflective of the total cost of borrowing the cash across the agreed term.

Fast and affordable small business loans - Photo of a Mercedes AMG sportscar in gun metal grey - Hamilton Wood and Company Nottingham, Newcastle (1)

How to Get a Business Loan

Financial loans over a much longer, more protracted-time period will often come with lower rates of interest as compared to shorter-term small business loans but this isn’t always true and we recommend looking for a loan with the lowest interest rates you can.

There’s more than just the interest that affects the total price of borrowing.

You should keep an eye out for the arrangement or agent fees too.

Some unethical lenders will hammer Organizations with top-notch Credit ratings with high APR’s and high setup fees because they’re trying to make a ‘fast buck’ at your expense, and this is improper for a whole variety of reasons that we are vehemently opposed to.

For some providers to literally ‘stitch up’ a Company with a decent credit history can make it more likely that this could expose the lending company to unnecessary risk.

When a Business finds themselves having to pay more for a loan they could have gotten cheaper somewhere else, this can lead to a never-ending pattern of debt that can become increasingly challenging to manage.

This tends to put the firm at greater commercial risk, risk of closure, people’s livelihoods in danger, staff facing lay-off etc.

Possibly even worse, if a Company was required to give security for the loan to be authorized by securing against held assets, these can be ‘recovered’ or taken from the Company should it default so you can see the risk some unscrupulous loan providers are subjecting businesses to.

How can I get a small business loan - Photo of man calling Hamilton Wood and Company to get a small business loan - Hamilton Wood and Company London Manchester (1)

When you get a loan through Hamilton Wood & Company, you can have confidence that we will only deal with lenders we would be happy to use ourselves.

More recently two of the big lenders we have blacklisted including one bank for deliberately misleading people with the Governments Bounce Back Loan, CBILS and Recovery Loan scheme (RLS) by claiming eligible applicants were ‘ineligible’ for the Government-backed scheme but they were more than happy to offer you their own more expensive loan secured against your assets just as interest rates are beginning to rise. (We wonder why?)

Unlike unethical loan providers, we take our obligations to treat you and your company fairly extremely seriously.

With us, you’ll get a great deal on a great loan.

So, where do Hamilton Wood & Company differ and how can we help you get a competitive, affordable small company loan?

With Hamilton Wood & Co., we will provide your business with a variety of choices when it comes to your looking to borrow.

Our loan set-up fee is low, our APR’s competitive. We are on your side to make sure you get a great deal on the loan your business needs.

Our company is your strategic business partner throughout your small business journey. We are here to help your business succeed.

Things we will ask you for when you make an application for a business loan are:

  • Your up-to-date management accounts
  • Your last 3-6 months’ business bank statements
  • Your personal details
  • The last 2 years submitted accounts
  • Evidence of at least £2000 cash in-flows to the business each month.

Transparency is key here.

Best Business Loans UK - Photo of a Business's stocks fluctuating on the stock market - Hamilton Wood and Company Leeds, Newcastle (1)

We get it, occasionally all businesses could find themselves dealing with a little dip in turnover and this is the reason we are able to take a more balanced look at your business performance over the last few years or at least the last year.

We are able to offer financial loans up to £600m subject to conditions and terms or from as low as just £1000.

As with all small business loans, our offers are made subject to terms and conditions.

We provide a full choice of cost-effective business loan products and services. We hope to play a role in your business’s ongoing success and look forward to working for you.

To get a small business loan today or to ask us any questions pertaining to commercial finance, please get in contact by visiting this link.

Kaizen - The Art of Continual Improvement in BusinessIn the ever changing business landscape, the concept of Kaizen emerges as a guiding principle to achieve sustainable growth and long term success.Originating from Japan, this philosophy emphasizes the importance of continuous and gradual improvement that goes beyond mere operational efficiency.Instead, it becomes a comprehensive strategy deeply embedded in an organization's culture.This article explores the

Read More

Unleashing Strategic Excellence: An Experts Guide to Writing a Business Plan Introduction: Navigating the Ever-changing Business Landscape In the dynamic and ever-evolving realm of entrepreneurship, crafting an impactful business plan transcends the realms of a mere paperwork ritual. It becomes an essential strategic exercise, akin to charting a course through the unpredictable waters of business evolution. While often associated with startups seeking capital,

Read More

In the heart of the United Kingdom, the Armed Forces Covenant echoes a promise to honour and uphold the rights of those who have served or are serving in the Armed Forces, along with their families. At Hamilton Wood & Company, we don’t just acknowledge this covenant; we embody it. Our commitment is not confined to financial services; it’s a pledge to stand

Read More

Unlocking the Cosmos: The Thriving UK Space Industry In the vast expanse of technological innovation, the United Kingdom has carved a niche for itself in the ever-expanding cosmos of the space industry. Let’s embark on a journey through the burgeoning UK space sector, exploring the dynamic growth, educational initiatives, and the symbiotic relationship between commercial enterprises and the space industry. A Cosmic Evolution:

Read More

Small and medium-sized enterprises (SMEs) need a stable cash flow to run their operations smoothly and meet customer expectations. However, boosting cash flow can be a significant challenge, especially since the ongoing cost-of-living crisis and inflationary pressures in the UK have translated into a decline in consumer spending. On top of a 0.4% dip in sales online and offline, small business owners have to

Read More

BUSINESS LOANS UK We make getting a business loan a quick and efficient process.  If you’re looking for a flexible business loan then our friendly team can help you. To apply for a business loan now, please click this link. Hamilton Wood and Company provides access to the best business loans available subject to your business’s status. We aren’t limited in terms of

Read More

SME RESEARCH AND DEVELOPMENT TAX RELIEFSME R&D tax relief is an effective way your business can strengthen its’ bottom line and, in many cases, trigger an almost immediate cash award worth over £45,000 as an industry standard.Hamilton Wood and Company, established in 2017 are leading industry specialists when it comes to the Research and Development Tax Credit incentive.  Our Managing Director is a

Read More

TOP 11 WAYS TO GROW YOUR SMALL BUSINESSIn this article, we will provide an overview of some of the alternative ways to grow your business.Business growth is one of the skills any entrepreneur has to learn to keep the dream alive.Contrary to some of the avenues for advice, we will provide advice based on some of our own findings and feedback received from

Read More

Research and Development Tax Relief is an advantageous way for businesses to recover money from the expenditures incurred whilst trying to develop new or improved products and processes.Since its inception in the year 2000, this business tax incentive that is based on the law has helped many UK businesses raise additional capital that is often re-invested into the business seeking further innovation.The reason

Read More

When it comes to R&D Tax Relief, we have a long and proud history of supporting UK businesses' R&D tax claims safely and securely.Has your business spent money trying to improve your products and services?  The outcome is not as important as your trying.If you have spent money trying to improve your business in some way or another, and are uncertain if your

Read More

Specialists in the R&D Tax Rebate, Hamilton Wood and Company are UK leaders in this complex innovation incentive offered by the UK Government.Established all the way back in 2017, we are recognised as delivering sturdy and robust R&D tax relief claims for UK companies.R&D Tax Credits are a complex area of UK Tax Legislation often falling outside the scope of a traditional accountant’s

Read More

Access to Finance is a vital lifeline for businesses.  Access to affordable finance is perhaps even more important. If you and your company are looking for low-fee business loans, Hamilton Wood and Company provides access to some of the best small business loans in the United Kingdom (UK). We are on your side to help you get a great deal on your next

Read More

Hamilton Wood and Company are a respected and trusted loans broker in the United Kingdom (UK).We help businesses of all sizes find and secure affordable business loans to help facilitate growth.Established in 2017, since then we have gone on to help countless businesses secure business funding at extremely competitive rates.Access to finance at an affordable rate is a vital element of continued growth

Read More

BUSINESS FINANCE----6 Minute Read----Hamilton Wood and Company are a trusted commercial finance specialist helping UK businesses grow.  We provide access to a range of loans for businesses.In this article, we will delve a little deeper into the many ways a business can secure commercial finance whilst providing a balanced overview of each type of business funding.HOW TO GET FINANCE FOR A BUSINESSIf you

Read More

The Government sets a limit dictating how much Anual Investment Allowance (AIA) a business can claim each year. In January 2019 the rate of AIA was set at £1,000,000 and this change is in place permanently according to the Government, however, as with most taxable thresholds they could be reviewed again in the future with the claimable amount increasing or decreasing in line

Read More

Hamilton Wood and Company are specialists in Property Development Finance. If you are a property developer with a limited company we can help you. We pride ourselves in offering some of the best small business loans with some of the lowest arrangement fees around. Our goal is to help UK businesses as much as we can, and one of the ways we do

Read More

The rules with the schemes will change from 1st April 2023, which will reduce the amount smaller businesses can recover, so if you've not yet claimed, contact us today so we can safely maximise your claim in line with the current rules.Research and Development (R&D) tax relief is a beneficial scheme for large and small businesses in the United Kingdom.The scheme allows businesses

Read More

How to Qualify for a Small Business Loan UKWe're often asked 'How can I get a small business loan for my company?' So, in this 5-minute article, we will take a deeper dive into this common question.First off, we have to understand if you’re yet to get started on running a business and searching for a start-up business loan, or if you are

Read More

A lot of people ask us how to get a business loan......so in this quick 5-minute post we will answer this question.First things first, we need to understand if you’re yet to start in business and seeking a Start-Up Loan, or if you are an existing business seeking a small business loan.These two scenarios may seem similar, yet they are vastly different, as

Read More

The Top 10 Ways to Grow a Small Business (In our opinion) This 5-minute post is for anyone who wants an alternative view on growing a small business.  We have linked to some of our favourite videos that we found useful and insightful.  If you like this post, please consider sharing it, thank you. 1. Work to LEAN principles What are lean principles?

Read More

We’re a small, but powerful team of business specialists who have one sole aim, to help contribute to your business’s ongoing success.We do this through a carefully selected range of business services all designed to help improve your cash flow and business performance.One of the most popular services that can deliver significant sums to your business is our R&D Tax Credit Service.So, what

Read More

Gain Expert Advice and Support from our Team of Specialists

Benefit from getting more of your money back in your business

With initial free advice and support, take advantage of a complimentary chat with one of our experts today.

How can we help you?
R&D Tax Relief
Business Loan
Capital Allowances
0 of 350