The short version: one fixed rate per band, one fee, no penalty for paying early.
How is my rate worked out?
Your band comes from how long the company has traded and its average monthly turnover: A needs 5 years and £80,000 a month, B 3 years and £40,000, C 2 years and £20,000, D 1 year and £8,000. Each band has one fixed APR, shown live on this page.
What does the arrangement fee cover?
It is 2% of the loan with a minimum of £250, taken from the payout. There are no other fees unless an instalment is paid more than 3 days late, when a single £25 late fee is added to that instalment.
Can I repay early?
Yes, at any time while the loan is up to date. You pay the principal still outstanding plus the interest in your next instalment, and nothing more.
Why might my offer be lower than I asked for?
We cap the monthly repayment at 15% of turnover and the amount at three months of turnover. An underwriter can also offer a smaller amount or price it in a lower band, and will tell you why.
If you change your rates, does my loan change?
No. The rate on your application and offer is fixed when it is made and stays the same for the whole loan.
Rates