Loan affordability sel-check

Borraein frae us is dear. It's biggit for ae job: a short, urgent, time-boond cash-flow gap. Afore ye apply, uise this tae see the real coст an gin the repayments fit yer cash flow. We gaither naething — this rins in yer brouser.

This is a guide. For the hale breakdoun wi a repayment schedule, uise the live loan reckoner.

Wirkit example

Borrae £300.00 ower 42 days an ye pay back £336.50 aw thegither — aboot £56.08 a week ower 6 payments. Speir at yersel honestly gin yer takkins can kiver that on tap o aathing else.

There's a cap. Total interest and fees are capped at 100% of what you borrow, so you can never repay more than double — but that is still a lot for a short loan.

Thare's ordinar cheaper wyes

• A business owerdraft — typically faur cheaper gin ye hae ane in place.
• A business credit caird — uissfu for short gaps ye can clear ithin the billin cycle.
• Invoice finance — gin customers awe ye siller, ye can ushually advance maist o an invoice ithin a day.
• A grant — gov.uk's Business Finance Support Finder leets fundin ye micht no hae tae pay back.
• The Start Up Loans Company — a govrenment-backit loan ower a langer term at a lawer rate.
• Speirin a customer tae pey early — whiles the cheapest move o aw.

Gin siller is awready ticht, free an independent business-debt advice is tae be haen frae Business Debtline (0800 197 6026), an the Federation of Small Businesses supports wee firms.

See the same honest advice on oor business lendin page, or compare the revolvin Business Credit Facility.

Awready borraein an wirriet aboot a payment? See Help wi peyments — speak tae us early.