Business lines of credit up to £150k

Move your business vision forward with our flexible approach to funding. Apply for a £10k-£150k credit line that turns into a loan upon draw down

Unsecured, without collateral

Free non-committal application

Decision within 1 working day

No fees for repaying early

Unsecured, without collateral

Free non-committal application

Decision within 1 working day

No fees for repaying early

We’re trusted by thousands of growing businesses

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Spotcap finance enabled us to grow and having that emotion that someone believed in your vision just left us feeling great

Jennifer Hart

Director of Everyday Cashmere

A Spotcap credit line main features

  • Up to £150k of finance

  • Only pay interest on what you use

  • Online paperless application

  • Funds available within 1 day

How to apply for a business line of credit

It can take just 15 minutes to complete your application.

Business Line of Credit UK Application Process
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Sign up to to check eligibility by completing a short form

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Enter essential business details to complete your application

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We assess the application in 24 hours from completing it

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Accept our offer to set up your Spotcap credit line

How does a business line of credit work?

Below is an example of how a credit line can work. It illustrates Spotcap’s approach, which is focused on simplicity and flexibility

1. APPROVAL

Once your business application has been approved we offer you a credit line. Your funds will be available within 24 hours

2. COMMITMENT PERIOD

Your credit line will be available for 1 to 3 months. During this period you may drawn down as much or as little as you need

3. DRAWING DOWN

Each drawdown becomes a separate business loan. Each loan has the same interest rate

4. REPAYMENT

Each loan is repaid monthly over an agreed course of time (between 1 and 15 months). After the first month, you can repay your loan early without penalty

5. RESCORING

When your credit line expires you have the option to request a rescore. This means that we reassess your information and determine if we can offer a longer repayment schedule or larger credit line

How your business can benefit from a line of credit

  • Manage cash flow

    A business line of credit can relieve the pressure on your bank balance and bridge cash flow gaps when you need to make major payments

  • Buy new stock or equipment

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

  • Upgrade business technology

    Increase your productivity with new machinery, updated finance or manufacturing software, or a more efficient communication systems

  • Enhance your online presence

    Keep up 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 line of credit payment calculator

  • Amount
    £ 100,000
  • Time
    12 months

£9,340

Monthly Repayment

For illustrative purposes only. The example shown above is based on 1.5% average monthly interest rate and 2.0% arrangement fee. The APR (annual percentage rate) is , which includes both interest and fee. The total payable amount is . This amount consists of principle, interest and fee. 
We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

Monthly Repayment

£13,752

  • Amount
    £ 150,000
  • Time
    12 months
For illustrative purposes only. The example shown above is based on 1.5% average monthly interest rate and 2.0% arrangement fee. The APR (annual percentage rate) is , which includes both interest and fee. The total payable amount is . This amount consists of principle, interest and fee. 
We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

Frequently asked 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.
  • 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 is a business line of credit?

Information about the business lines of credit you need to know as a business owner

  • 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.
  • Small businesses often feel the effects of payment gaps and unforeseen expenses – more so than large corporations. For a small business owner, a delayed invoice can result in serious cash flow problems: a lack of working capital to operate the business, inability to replenish stock, and even problems with paying employees on time. A line of credit provides a safety net for businesses that know that might need finance, but don’t know how much they will need or when.

Business loans and lines of credit:

What’s the difference?

  • A business loan is a one-time sum of credit given by a lender to a business. Regarded as a debt-based financing arrangement, companies use credit as a source of working capital, as well as to fund growth endeavours and cover unforeseen business costs.
  • Business loans tend to suit companies that need to make larger purchases and/or prefer fixed monthly repayments. They provide a single amount of credit and need to be paid back within a certain period of time. Even if the borrower doesn’t use all of the funding, they are required to repay the full amount with interest.
  • Lines of credit, conversely, give businesses access to an agreed sum of credit – sort of like a credit card. Granted by a financial institution, borrowers are granted access to credit but are not obliged to use it all. Businesses can be flexible in when they use their credit line (known as ‘drawing down’), tailoring drawdowns according to their needs. Interest tends to be paid only on the amount a business draws down, not on the entire credit line they were granted. Each drawdown from the line of credit becomes a separate business loan.

Revolving and non-revolving credit line:

What’s the difference?

  • Put simply, revolving credit is a type of credit line. A line of credit and revolving credit line are agreements made between a lending institution and a company or person. A lender provides access to funds that a business can use, the only fundamental difference between a revolving line of credit and a non-revolving line of credit is what happens to it after you have made a payment.
  • If you make regular payments on a revolving credit account, the lender may agree to increase the amount of credit offered – again, in a similar way to a credit card. There is no set monthly payment with revolving credit accounts – interest is incurred on what’s been borrowed. When payments are made to the revolving credit line, the repaid funds become available for borrowing again. The credit limit may be used again and again, as long as the borrower does not exceed the maximum agreed amount.
  • Non-revolving lines of credit share many of the same features as revolving ones: a credit limit, flexible use of funds and interest charges. However, with non-revolving lines, the sum of available credit does not replenish after payments are made. Once you repay the credit line the account is shut down. Although, this doesn’t mean the credit line is gone forever. A lender may offer a similar or increased amount of credit after reassessing a borrower’s circumstances.

Why are lines of credit useful for small businesses?

  • Small businesses often feel the effects of payment gaps and unforeseen expenses more than large corporations. For an SME, a delayed invoice can result in serious cash flow problems: a lack of working capital to operate the business, inability to replenish stock, and even problems with paying employees on time. A line of credit provides a safety net for businesses that know that might need finance, but don’t know how much they will need or when.
  • A line of credit is often used as security for businesses wanting to grow. Businesses experiencing spikes in growth may need to draw on a line of credit to maximise profitability. It can be used for various purposes, including managing cash flow issues, bridging receivables and replenishing inventory.