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Variable rate loan

Whether it's to fund a specific purchase or project, many businesses need a loan from time to time. For loan requirements above £250,000, please refer to our Corporate Lending Products.

Credit facilities are subject to status. Maximum 70% loan funding against asset purchase.

As you may be aware, the Bank of England recently announced an increase in the Bank of England base rate from 0.50% to 0.75%. As a result existing Variable Rate Loans that are linked to the Bank of England base rate will have increased in line with this change.

Product features

  • Apply to borrow between £25,020 and £250,000
  • Repayment period is between 1 and 15 years
  • Interest is charged on a monthly basis
  • Arrangement fees are 1% of the loan amount
  • Flexible repayment terms which puts you in control

  • Our loans are generally offered on a secured basis. Please note that there will be additional fees when security is required. Fees will be discussed throughout the application process and will depend on your individual circumstances. If we are able to consider a loan on an unsecured basis, we will tell you during the application process.
  • The interest rate is based on the prevailing Bank of England base rate, plus the appropriate interest margin which will be determined by the financial status of your business.

To apply, you and the key parties must meet the following criteria

  • Be 18 years or over
  • Be a UK resident
  • Be an account signatory with authority to borrow on behalf of the business
  • Hold a business current account with The Co-operative Bank
  • Require the lending for business use.

Your application is subject to status and based on an assessment of your financial circumstances.

We aim to give you a decision within 7 business days of all the information being received. Occasionally, we may require additional information depending upon your circumstances.

Please ensure you read the important documents below and save copies of them for future reference.


Ready to apply?

Please complete the relevant loan application form for your business entity. Each application must be submitted with a completed Assets and Liabilities form.

Loan application for Sole traders & Partnerships

Download Loan application for Sole traders & Partnerships PDF

Loan application for all other profit organisations

Download Loan application for all other profit organisations PDF

Loan application for Community organisations

Download Loan application for Community organisations PDF


Important Information

We recommend that you read the important document below and save a copy for future reference.

Standards of Lending Practice

Download Standards of Lending Practice PDF

Standard terms and conditions - Term loans

Download Standard terms and conditions - Term loans PDF

How we use your personal information

Download How we use your personal information PDF

Contact us

If you'd like more help & information, you can: