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 contact one of our relationship managers.

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


  • Sole traders, partnerships with two or three partners or unincorporated organisations can apply for a loan from a minimum of £25,020

  • All other organisations can apply for a loan from a minimum of £1,000

  • 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

  • Asset purchases must be in the name of the borrower / business (not director / shareholder)

  • We do not lend for residential property development / investment, pension funds or to businesses domiciled outside of the UK

Apply for a variable rate loan

Check you're eligible

To apply, you and all key parties must:

  • be 18 years or over
  • be a UK resident
  • have authority to borrow on behalf of the business / charity
  • 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 10 business days of the information being received. Occasionally, we may require additional information depending upon your circumstances.

Currently, variable rate loans of £25,020 or under are not available to sole traders, partnerships with two or three partners or unincorporated organisations. Please speak to us if your business is one of those entities and there may be another product to suit your needs.

How to apply

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

To apply you need to complete and return:

  • The relevant loan application for your business or entity

Download Loan application for Sole traders & Partnerships PDF

Download Loan application for all other profit organisations PDF

Download Loan application for community PDF

Important Information

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

Download Standards of Lending Practice PDF

Download Standard terms and conditions - Term loans PDF

Download How we use your personal information PDF

Not found what you're looking for?

Contact our support team