Business loans and finance

Compare business loans with tech-enabled agents

Compare business loans from trusted UK suppliers through our finance division, Think Business Loans, with no impact on your credit score.

Part of the Bionic Group Over £450m funded to 5,000+ UK businesses

Think compare a vetted panel of around 100 trusted UK business lenders

How do I compare business loans?


At Bionic, we use smart technology to help make business comparison a whole lot easier. And the team at Think Business Loans, the finance partner of Bionic, do the same for business loans comparison.

As soon as they know a bit about your business and what you need funding for, they’ll use smart data and state-of-the tech to match your business against thousands of potential lenders and finance options.

As part of the comparison, you’ll be shown your eligibility status and amounts available. We’ll run a soft credit check to do this, so as not to affect your credit score. You just need to choose your preferred lender, and we'll take it from there. If you proceed with the application, your lender will run a hard credit search before making a decision. A record of this search will appear on your credit file.

Think only works with responsible lenders, and so you’ll need to give evidence of your business's turnover and affordability for underwriting purposes. Again, smart technology is used to help make this as easy as possible – simply upload your supporting documents or connect via OpenBanking for a decision.

Once everything is underway, you can check your application using the Think Business Loans’ online client portal. This means you can stay updated on the status of your application and communicate directly with lenders. Apple users can also get updates using iOS app.

How business loans comparison works with Bionic and Think Business Loans

How Bionic Works

You tell us how much
you need to borrow

Let the team at Think know how much you need to borrow and what you’ll use the finance for. They’ll use smart data to find out more about your business.

How Bionic Works

We’ll compare finance
options and lenders

The team at Think will compare different loans from a panel of providers – including high street banks and alternative lenders - to find the right finance for your business.

How Bionic Works

We’ll take care of
your application

Think’s tech-enabled team will answer any questions and take care of your application to help improve the chances of your application being approved.

Your Bionic comparison is free.

If you decide to switch, we’ll be paid a commission by the new supplier that is included in the prices we quote.

Compare business loans as well as lenders

With so many business finance options, it can be hard to know where to start. The team at Think will help you find the right loan for your business.

Recovery loans

The Recovery Loans Scheme (RLS) is a replacement for the CBILS, CLBILS, and Bounce Back Loan Schemes. These government-backed loans can be used to manage cashflow, investment and growth.

  • Term loans or overdrafts from £25,001 to £10m
  • Invoice or asset finance from £1,000 to £10m

Working capital

Unlike other business loans that are designed to help you buy assets or fund any expansion plans, working capital loans are designed to help your business cover its day-to-day costs.

  • Get a decision within days
  • Approved funds in your account within two hours

Invoice finance

If you’re owed money on outstanding invoices, but need the money now to cover cashflow, invoice finance allows you to borrow money against the amounts owed to you on unpaid invoices.

  • Release unpaid capital
  • Short-term finance option

Asset finance

Any assets you have on your business balance sheet, including fixtures and fittings, machinery, IT equipment and software – can be used as security to release funds via asset finance.

  • Choose leasing, hire purchase or refinancing
  • Short term loan options available

Bridging loans

If you need to cover a shortfall in funding, perhaps to buy a business property or carry out refurbishments, a bridging loan can cover costs in the short term until other finance is available.

  • Finance from specialist bridging loan lenders
  • Flexible lending and repayment options

Commerical mortgages

A commercial mortgage is a long-term secured loan that is used to invest in a business property. Funding is usually available for 70-75% of a property’s value with repayment terms of up to 25 years.

  • Long-term secured lending
  • Compare various terms and rates

Unsecured business loans

Unsecured business loans mean to can take out business finance without putting up any assets, equipment, or property as security. Acceptance and terms based upon your business credit score.

  • Access our panel of unsecured lenders
  • Use for any business purpose

Card machine cash advance

If your business uses a PDQ card machine you could borrow money against future card transactions. This works in line with your business cashflow and isn’t reliant on having a good credit score.

  • Borrowing based upon turnover
  • Only pay back on future transactions

Bionic provides the business switching services for many well known brands

Our team shares essential knowledge on business loans

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The cost of business finance depends on the type of loan you take out, the lender you borrow from, and the current circumstances of your business. The rates you're offered depend upon the type of risk you pose to the lender. This risk is broken down into the following categories:

  • Category A+
    You have clean business and personal credit files, profitable. Trading 5+ years.
  • Category A
    Clean personal and business credit, healthy profits, trading history 2+ years.
  • Category B
    Some minor issues on your credit file in the past, but good recent performance.
  • Category C
    Recent credit problems such as CCJs (settled) or any missed payments.
  • Category D
    Bad personal credit but an overall good business. CCJ’s (unsettled) or defaulted payments.

Get in touch with the tech-enabled team at Think Business Loans for a personalised business loans comparison.

Although there’s no ‘set standard’ criteria for business loans, lenders will usually look at the following before deciding whether to lend to you:

  • Turnover vs Loan amount (ideally it will be 30% of your turnover)
  • Trading history over the last 18 months – this suggests experience and lowers risk
  • No serious adverse credit – Settled CCJ’s will be entertained if the business is profitable
  • Business must be based in the UK
  • Are the directors homeowners? – this can affect the amount offered

Ideally, lenders will need to see one or more of the above points being met, but we work closely with our panel to help ensure we can match your business with the right one.

Think can compare business loans for a range of businesses across all industries, including microbusinesses, small businesses, and larger companies. Here are some examples of the businesses we can find finance for:

  • Agriculture - Farming equipment isn’t cheap and can quickly become outdated by newer technology. Farmers can get finance for a range of needs, including expansion, new equipment and more.
  • Dental Practice Finance Solutions - Whether you are looking to buy a new practice, expand your existing one, or invest in new equipment, we can help you find finance to fit your needs and circumstances.
  • IT Software and Technology Finance - The speed at which technology is always developing puts pressure on businesses to invest in cutting edge hardware and software. Our tech-enabled team can help you find the right finance.
  • Nursing & Care Homes - Although very rewarding, care homes can be costly to run, particularly when you consider the level of care and medical technology needed to help residents. We can help you secure the finance you need.

The tech-enabled team at Think can take the stress and worry out of finding the right type of finance and the right lender.

Our finance division over at Think work with a panel of trusted lenders to find the right finance solution for your business, including high street banks, challenger banks, and alternative lenders.

What are high street banks?

High street banks are large retail banks with branch locations across the country, and maybe across the world. As the name suggests, these banks have a high street presence, and include familiar names like RBS and NatWest, Lloyds and Bank of Scotland, HSBC, Santander, Clydesdale, and Metro Bank.

High street banks offer a range of business finance options, such as commercial mortgages, asset finance, secured loans, unsecured loans, factoring and invoice finance. The amount you can borrow from a high street bank will lend you will depend on the type of loan you want, your credit score and your circumstances.

Although high street banks like to offer competitive rates, it’s worth comparing what’s on offer from challenger banks and alternative lenders.

What are challenger banks?

Challenger banks are smaller, less well-established banks that don’t have a high street presence. But just because you’ve never heard of them, it doesn’t mean they’re not a viable option. We only work with reputable lenders, and in order to be defined as a ‘bank’, the company must be authorised to accept retail deposits by the UK finical regulator the Prudential Regulation Authority (PRA).

Challenger banks can often only be approached via an intermediary or finance broker, and our close working relationship with our panel of lenders means we may be able to negotiate favourable rates for your business.

What are alternative lenders?

Alternative lenders are those that work outside of the normal banking system, such as peer-to-peer (P2P) lenders. P2P lenders bypass banks by using a lending platform to directly match with borrowers.

Business finance FAQs

To help you understand more about finding the right business loan, here are the answers to some of our most frequently asked questions.

All business loans are subject to credit and affordability checks, but if your application is successful, you could get your funds within 24 to 36 hours. The timing can vary depending on the type of loan you’ve applied for. Secured loans, for instance, often take longer to process.

To make sure the application process runs as quickly and smoothly as possible, it helps if you can get any supporting documents across as quickly as possible.

The amount you can borrow will depend on your credit score and the affordability of your business loan. Think will compare a range of business loans and talk you through your options to help you find a loan that fits your needs and budget.

The rate you’re offered will vary according to your business credit rating, how much you want to borrow and for how long, as well as the lender and type of loan you choose. Get in touch with Think’s tech-enabled team for a personalised business loans comparison.

Open Banking is a clever piece of tech that allows you to share your basic bank account information with lenders who will use it as part of their underwriting process (this is when they work out how much a lending risk your business is before making a final decision on whether to lend to you).

Only regulated third-party providers can access Open Banking services. For more information, check out the Open Banking website.

This will depend upon the type of business loan you have taken out and the lender providing it. Although some lenders are flexible, others might insist you stick to the fixed monthly repayment schedule.

If you do repay early, you’ll be given a settlement figure which will usually be for more than the amount you owe, as the lender will want to recoup some of the interest repayments it will miss out on as you’re not taking the loan over the full term.

If this is a concern, please tell your lending manager and they will be able to help.

If your application is accepted, you’re not under any obligation to take out a business loan until you’ve signed the credit agreement with your lender. But bear in mind that when you complete a full application with a lender, a record of your application will appear on your business credit file. If you make too many applications in a short space of time, this can have a negative impact on your credit score.

To help you find the right business finance, Think will compare business loans from a panel of trusted lenders. If you were to go to each directly, that could take days of work and risk damaging your credit score, as not all will quote for finance without first running a credit check.

But Think does things differently. Lending managers are equipped with cutting-edge tech to compare loans and help you find the right one for your business.

Think will usually run a soft credit check when comparing loans for your business. This helps to get a better idea of your circumstances without affecting your credit score. If you take the application further, your lender might ask for a full credit check, which will be noted on your credit file. This will affect your credit score but will only ever be done with your permission.

If you have an apple device, you can check your credit score for free by downloading the Think Business Loans app. Checking your credit score through the app won’t affect your score.

Not necessarily. Think compares a range of secured and unsecured business loans. If you take out an unsecured business loan, you don’t need to put anything up as security. The variety of secured business loans compared means that you may be able to put up assets or future earnings as security.

Yes. Not all businesses have an A+ credit rating, and your financial situation can sometimes be affected by things that are completely out of your control. If you have any concerns about your credit report, whether you think you have a bad credit score or you’re worried there could be some issues affecting it, let your lending manager know and they’ll try to find a suitable solution.

This will depend upon the circumstances of your business, the type of loan you’re after, and the amount you want to borrow. Different loans come with different lending conditions and are available for different needs, which means you may be able to take out more than one. If, for instance, you’ve taken out a secured loan for expansion, but you run into cashflow problems, you might be able to take out a working capital loan or invoice financing to help with these short-term needs.