Move forward with a business line of credit

Bypass the complexity of traditional lenders with our practical approach to funding. Apply online to borrow between £10,000 and £150,000.

Unsecured, without collateral

Free non-committal application

Decision within one working day

No fees for repaying early

See how much you qualify for

Begin by entering your basic information

If you would like to continue, please fill in your e-mail address and enter a password. Completing the application could take as little as 15 minutes and you will receive a decision within one working day. An application is non-committal.

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What is a business line of credit and how does it work?

A business line of credit is a flexible business loan arrangement made available by a lender. Once the application has been thoroughly assessed, and the lender has decided on the amount, you can start drawing down the funds. If you only draw down some of the funds, you can come back for more later if you need them. Each drawdown becomes a separate loan.

A business line of credit from Spotcap sets out the maximum unsecured loan amount available to you. If you only draw down some of the funds, you can withdraw the remainder when and if you need it. No interest is charged on your line of credit and you only pay interest on the amount you have drawn down.

Alternative lending in the UK

What is a business line of credit and how does it work?

A business line of credit is a flexible business loan arrangement made available by a lender. Once the application has been thoroughly assessed, and the lender has decided on the amount, you can start drawing down the funds. If you only draw down some of the funds, you can come back for more later if you need them. Each drawdown becomes a separate loan.

A business line of credit from Spotcap sets out the maximum unsecured loan amount available to you. If you only draw down some of the funds, you can withdraw the remainder when and if you need it. No interest is charged on your line of credit and you only pay interest on the amount you have drawn down.

Alternative business funding for UK businesses

When and where can I obtain a business line of credit?

When and where you can obtain a business line of credit depends on the type of lender you approach. Obtaining a business line of credit from an online lender is typically faster than going through a traditional lender like a bank, as it could take them weeks or even months to process an application.

The online application process for a Spotcap line of credit can be completed in as little as five minutes, and once approved you can access the funds within 24 hours. A line of credit from Spotcap is fully unsecured, which means that we don’t require an asset and no personal guarantee as collateral. You will have ongoing access to finance from which you can borrow when you need to and you only pay interest on what you borrow. 

Spotcap has developed a unique, rigorous credit assessment algorithm that allows us to assess the financial condition of a business. We assess your ability to repay a loan based on your recent bank statements and VAT returns.

What can I use my credit line for?

Short term lending

  • Manage cash flow

    Having access to a line of credit can protect your business from short term cash flow challenges. In addition, a line of credit can relieve the pressure on your bank balance and bridge cash flow gaps when you need to make major payments or sit on outstanding invoices.

  • Buy new stock or equipment

    A line of credit can provide essential working capital when you’re purchasing inventory or important new equipment.

  • Invest in staff training

    Keeping your team up to date with the latest industry knowledge and best practices can bring multiple benefits: satisfied customers, improved staff retention and a contribution to your business’ bottom line.

Long term lending

  • Upgrade business critical technology

    Increase your productivity with new machinery, updated finance or manufacturing software, or a more efficient communication systems. A loan can help you upgrade to the tools that will give your business a competitive edge.

  • Expand your operations into a new region

    Moving into a new region often means committing to new premises, and additional marketing. A business line of credit can provide the capital injection needed before the income from new customers starts to flow.

  • Enhance your online presence

    Businesses selling their products or services online need to keep up to date with the latest web technologies and practices to stay competitive. This is where a line of credit can help, allowing you to fund a strong internet presence.

Spotcap's line of credit - what you need to know

What credit line size am I eligible to receive?

UK businesses are eligible to receive a credit line between £10,000 and £150,000.

What are the line of credit terms?

On approval you’re given access to a line of credit. You choose how much of this to draw down and when, with each draw down becoming a separate loan. Repayments are typically monthly, over a period of 7-15 months.

What are the criteria to qualify for a business line of credit?

Spotcap business line of credit is available to firms operating in the UK with an UK business bank account. Your business must have been operating for at least 24 months with a turnover of over £250k in the last 12 months.

What are the business line of credit interest rates?

The interest rate on your business loan reflects market conditions and your recent business performance. Use our business loan calculator to estimate the interest rate and monthly repayments.

How can I apply for a business line of credit?

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Sign up

Register online and enter basic personal and business information. It only takes a few minutes.
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Complete your application

We guide you through the steps needed to give us necessary accounting, banking and tax information, along with relevant personal and business data.
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Receive approval

Once approved, you can access the funds within one working day. You can then start drawing down finances as and when you need it.

Important questions

  • When will I receive my business line of credit?

    Our credit decision is usually within one business day, with direct access to the funds upon approval and acceptance.

  • How do I pay back my business line of credit?

    You pay a monthly amount over an agreed amount of time, usually over 7 to 15 months. You can make early repayments without being charged a penalty fee.
  • Which fees apply to a business line of credit?

    Spotcap provides credit lines between £10k and £150k to UK businesses with an annual turnover of at least £250k. Until you draw down funds from your credit line, there are no fees to pay. Once you make a withdrawal, you pay an arrangement fee and will start to incur interest on the funds you draw down.
  • What are your other charges?

    In addition to interest, we make a one-off arrangement fee. This is taken when you make the first withdrawal from your credit line and is a percentage of the entire credit line amount.
  • How much will the repayments be?

    Repayments can vary, depending on market conditions and recent business performance. For example, a credit line of £100k with a 1.8% interest rate and a 2.0% arrangement fee, repaid over 10 months, would require repayments of approximately £11,016 per month.
  • What happens when my credit line matures?

    Every time you draw down funds from your credit line, a business loan is created. This loan is repayable, monthly, usually over 7 to 15 months. Once your credit line matures, you may submit updated business data. We can then reassess your application and offer you a new business line of credit.
  • If I have a question, can I talk to someone at Spotcap?

    Yes. While our loan application and management process is online, there are several ways you can contact us, including email, online chat, social media and telephone. email: loans@spotcap.co.uk / @SpotcapUK / Tel: 020 3807 1952
  • How can I be sure my data is safe with you?

    Spotcap takes the security of your data very seriously. We are regulated by the FCA and comply with all the data protection and privacy laws. All information shared between your computer and our systems is secured with one of the strongest forms of encryption technology that’s commercially available.