Interest rates

Our annual interest rates range from 4.5% to 12% with a current average of 6.2%. They’re fixed for the life of your loan with us.

How we decide which rate to charge

We consider each loan application we receive on an individual basis and take into account the following factors when we decide which interest rate to charge:

  • The creditworthiness of your business, which we assess using a Credit Reference Agency
  • Available security
  • Your business’ recent financial performance

Once we’ve assessed these factors we grade each loan application from band A to F to help us determine the interest rate (F representing the highest risk).

 

Our latest interest rates

The following table shows the weighted average interest rate we charged on loans between July 2021 and June 2022.

 

Loans provided per band

The following table provides a percentage breakdown of the total number of loans provided by value per band between July 2021 and June 2022:

Grade % Number of deals % Value provided
A 7% 16%
B 8% 22%
C 9% 7%
D 16% 20%
E 13% 8%
F 46% 27%
Total 100% 100%