Lender alternatives
Alternatives to Start Up Loans Company
4 UK specialty finance alternatives to Start Up Loans Company, compared on product type, ticket band, rate, decision time and eligibility.
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Start Up Loans Company vs the 4 alternatives
| Compared on | Start Up Loans Company | Funding Circle | iwoca | Allica Bank | Aldermore |
|---|---|---|---|---|---|
| Product | Government-backed unsecured personal loan to fund a UK start-up | Term loan | Flexi-loan / line of credit | SME term loan, asset finance + commercial mortgage | Asset finance, invoice finance, commercial mortgages |
| Ticket | £500 to £25k per founder (max £100k per business) | £10k to £750k (its own figure) | £1k to £1m (its own figure) | £25,001 to £150,000 (business loans); £25k to £2.5m (asset finance); £150k to £15m (commercial mortgages) (its own figures) | Commercial real estate loans of £3m to £100m (its own figures); not published for asset or invoice finance |
| Rate | Fixed 7.5% a year interest, no arrangement or early repayment fees | From 6.9% per year | From 1.5% per 30 days | Business loans 9.90% to 13.75% interest; other products quoted per deal | Quoted per deal (not published) |
| Decision | Application takes as little as 2 to 3 weeks, often 2 to 3 months or longer (its own figure) | Decision in as little as 5 minutes, funds typically within 48 hours (its own figures) | Many customers get an instant decision; larger loans within 24 hours (its own figures) | Decision by the next working day (its own aim) | Not published |
| Soft search | No | Yes | Yes | No | No |
| FundBiz editorial tier | Strong | Top tier | Top tier | Top tier | Strong |
Sources: each lender's own published product pages, as recorded in our lender index: Start Up Loans Company · Funding Circle · iwoca · Allica Bank · Aldermore. Figures change; confirm with the lender before you rely on one.
Funding Circle
Decision in as little as 5 minutes, funds typically within 48 hours (its own figures) · From 6.9% per yearMainstream lender for term loans between £10k and £750k. It suits established Ltd companies with a trading record and clean credit that want a fixed-repayment term loan rather than a flexi or MCA.
iwoca
Many customers get an instant decision; larger loans within 24 hours (its own figures) · From 1.5% per 30 daysMainstream lender for flexi working capital.
Allica Bank
Decision by the next working day (its own aim) · Business loans 9.90% to 13.75% interest; other products quoted per dealChallenger bank for established businesses: business loans of £25,001 to £150,000, asset finance of £25k to £2.5m and commercial mortgages of £150k to £15m (Allica's own ranges).
Aldermore
Not published · Quoted per deal (not published)Challenger bank suited to asset finance, invoice finance and commercial mortgages where the borrower has time for proper underwriting and wants a real bank on the other side.
Frequently asked questions
What are the main alternatives to Start Up Loans Company?
The closest UK specialty finance alternatives are Funding Circle, iwoca, Allica Bank and Aldermore. The table above sets them side by side with Start Up Loans Company.
How does Start Up Loans Company compare on ticket size and rate?
Start Up Loans Company offers government-backed unsecured personal loan to fund a UK start-up, with tickets of £500 to £25k per founder (max £100k per business). Its pricing: fixed 7.5% a year interest, no arrangement or early repayment fees.
How quickly does Start Up Loans Company make a decision?
Decision time for Start Up Loans Company: Application takes as little as 2 to 3 weeks, often 2 to 3 months or longer (its own figure). Decision times for the alternatives are listed in the comparison table; faster isn't always cheaper, so weigh speed against rate and ticket fit.
Does Start Up Loans Company do a soft-search quote?
Start Up Loans Company doesn't offer a soft-search quote at the eligibility stage. Among the alternatives, Funding Circle and iwoca offer a soft-search quote.
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Founder & Managing Director, Muswell Rose, FundBiz
Adam is the founder and managing director of Muswell Rose and a founder of Best Business Loans Ltd, the company behind FundBiz. His background runs through commercial finance, mortgages and fintech, including as managing director of an invoice finance business. He oversees FundBiz's guides and lender reviews.
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