One of the most popular banks in the UK, Barclays Bank is a fixture of international finance. It was founded in 1690 in Manchester, UK.
For small and medium-sized businesses that need financial investment to grow and scale their operations, Barclays offers a number of loans designed to help companies achieve that aim. Repayment terms can be up to 20 years, and there are options for repayment holidays, although interest will still be accrued during these periods.
| Minimum trading period | Not specified |
|---|---|
| Loan terms | From 12 to 240 months |
| Loan amounts | From £1,000 to |
| Minimum turnover | Not specified |
These are unsecured loans that allow you to choose your payment term. They come with fixed interest rates and the option of a six-month repayment holiday. However, interest will still be accrued during these periods. Barclays small business loans are offered for between 1 and 10 years.
These secured loans allow you to choose repayment terms of up to 20 years. They also come with either fixed or variable rates of interest and the option of 12 months of interest-only repayments.
Barclays Bank business loans can be a good financial stepping stone for businesses that want to go to the next level.
Interest rates can be fixed or variable, depending on the loan. The rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from what’s advertised.
If you choose to apply for a Barclays Bank business loan, Barclays will need to see the following:
Personal criteria that you must meet:
Barclays Bank states that these business loans must never be used for personal purposes – they’re for business development purposes only.
To apply for a Small Business Loan, go to the Barclays website. Once there, you can either make an application or follow a series of steps to see if you are eligible. To apply for a Medium Business Loan, you will need to make a phone call.
Our 2024 customer satisfaction survey found that 95% of Barclays business loan customers would recommend Barclays to a friend. Several respondents said they were impressed with the customer service and that the bank had a good reputation. One customer in our survey stated that Barclays “has a good product range and communication is good and efficient”.
Barclays Bank as a whole is rated “Bad” on Trustpilot, with a score of 1.6 out of 5 stars based on over 10,900 reviews (updated October 2024). Customers complained of poor customer service and a lack of branches available locally.
The Barclays app has a rating of 4.8 out of 5 stars based on more than 1.8 million reviews on the App Store, and a rating of 4.6 out of 5 stars based on over 530,000 reviews on the Google Play Store (updated October 2024).
There is little mention of Barclays business loans on Reddit, although a few business owners posted queries about their Barclays Bounce Back Loans on the forum.
For help with new business loans, you can call Barclays on 0333 202 7431. Lines are open Mon-Fri from 9am-7pm. Alternatively, you can use the in-app chat, or if you’re an Apple user, you can use iMessage to talk to customer support.
Existing loan customers can call Barclays on 0333 202 7445 for customer support. Lines are open Mon-Fri from 8am-7pm. Alternatively, you can use the in-app chat, or if you’re an Apple user, you can use iMessage to talk to customer support.
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Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
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