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Unsecured lending for small and medium-sized enterprises (SMEs) in the UK.

Current Status: Open for Applications
Maximum value:£ 100,000

Objectives of Fund

Barclays has launched £100,000 of unsecured lending – doubling its maximum for unsecured business loans for small and medium-sized enterprises (SMEs) from £50,000 to £100,000.

The bank has also identified more than 40,000 SME clients, from dentists to manufacturers, that could be eligible for the higher levels of lending, which because it is unsecured could be in their accounts quickly.

The move is expected to help SMEs get faster access to finance and seize opportunities they might otherwise miss out on if lending decisions are not made quickly enough. It also means business owners will not have to use their business premises or home as security.

The expansion of unsecured lending adds to Barclays' unsecured lending offering, whereby 250,000 Barclays SME clients can see pre-assessed lending limits of up to £25,000 via mobile and online banking, which they can apply for digitally, often receiving the cash that day. More than 40,000 of these businesses have been identified as eligible to apply for up to £100,000.

Unsecured lending differs from lending where the loan is secured against assets such as a business premises or the owner’s home. It is faster for firms as it does not require land or property valuations and other steps that slow the process down.

The additional lending could not just help individual companies, but also boost the wider economy. For example, nearly a quarter (23%) of business owners surveyed said that if they were given a £100,000 loan, they would hire more staff.

Both the pre-assessed lending up to £25,000 and the expansion of unsecured lending can make taking a business loan easier.

Value Notes

Tens of thousands of businesses could benefit immediately from unsecured lending of up to £100,000.

In addition, Barclays is increasing the maximum unsecured overdraft for business lending from £25,000 to £50,000, helping firms take on larger projects or deal with unexpected increases in business, for example.

For further detail on the unsecured lending, see: https://www.barclays.co.uk/business-banking/borrow/loans/

For further detail on the unsecured overdraft, see: https://www.barclays.co.uk/business-banking/borrow/overdrafts/

Who Can Apply

Small and medium-sized businesses in the UK may be eligible to apply.


Although there are no specific exclusions cited within the programme guidelines, those wishing to apply are advised to liaise with the funding provider in the first instance to discuss eligibility.

Eligible Expenditure

When Barclays asked small businesses what they would do with £100,000 of business lending, the top five answers were:

•Purchase new equipment or machinery: 34%
•Improve or increase branding/marketing: 32%
•Diversify the business (e.g. open in a new market; add a product/service): 31%
•Hire more staff: 23%
•Get new premises :14%

Employee Notes


How To Apply

Applications may be made at any time.

Applicants for Barclays unsecured lending will typically be able to get a decision within 24 hours, and have the money in their account within five working days.

For further information about Barclays, see the website at www.home.barclays

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