When should you refinance a business loan?

Refinancing is beneficial when it lowers your interest rate, reduces monthly payments, or consolidates debts. Consider it if your credit score has improved, your current loan has high fees or inflexible terms, or your business needs more cash flow or working capital. Refinancing can save money and improve financial flexibility as your business grows.

Types of business loans you can refinance

Most types of business loans are eligible for refinancing. This includes term loans, which can be refinanced to secure better rates or longer repayment terms; merchant cash advances, which can be replaced to avoid costly short-term finance; asset finance, where refinancing can help reduce payments or free up equity; invoice finance, often refinanced to lower fees or improve service; and commercial property loans, which can be refinanced to obtain better mortgage deals or access additional capital. Always check for exit fees before refinancing. Prospera Funding helps UK businesses find the best refinancing options.

Is business loan refinancing right for you?

Refinancing can ease financial pressure and improve terms if you face high rates or multiple repayments. It’s ideal if your business qualifies for better lending, but consider costs like early repayment fees. A thorough cost-benefit review is essential. Prospera Funding offers tailored refinancing advice that won’t affect your credit score, aligning with your business goals.

Refinancing loans for UK SMEs

Is your business juggling multiple repayments, high interest rates, or complex loan terms? A business debt refinancing loan can help you consolidate existing debts into one manageable monthly payment, often at a lower interest rate. By refinancing business loans, credit cards, and other liabilities, UK SMEs can improve cash flow, reduce financial stress, and regain control of their finances.

What is a refinancing loan?

Debt refinancing or restructuring loans involves renegotiating existing debt terms to secure lower interest rates, extend repayment periods, or consolidate multiple loans into a single manageable payment. This can enhance cash flow, reduce financial strain, and improve overall financial stability, enabling the business to invest in growth initiatives or navigate challenging economic conditions more effectively.

Benefits of consolidating your business loans

Struggling with multiple business loans and repayment schedules? Business loan consolidation lets UK SMEs combine debts into one affordable monthly payment, often with better rates and terms. Simplify cash flow, reduce admin, and regain financial control with a tailored consolidation solution designed to support long-term growth.

Couple applying for a refinancing loan at Prospera Funding.

Apply for a loan refinance

Why choose Prospera Funding for a refinancing loan?

Full access to UK lenders

Access tailored business finance from £5,000 to £25M, with rates from 4.5%. Prospera Funding connects UK SMEs with both traditional and alternative lenders for flexible, fast business finance solutions.

Protecting your credit

We prioritise protecting your credit score by leveraging our lender network and industry expertise to assess your funding options without formal applications or credit checks.

Fast decisions

Our lenders offer faster funding than traditional bank loans, ideal for businesses needing quick access to working capital, cash flow, or growth. Decisions and funds in as little as 24 hours.

Transparent costs

You know your business best, and whether business finance makes sense to achieve your goals. At Prospera Funding, we simply present the best funding options, fully explain the costs, and let you decide. No risk, no commitment, and no broker fees.

Industry specialists

Our business finance specialists have expert knowledge and proven experience across multiple industries, ensuring tailored funding solutions aligned with your business goals.

Flexible options

Our lenders provide flexible loan terms, repayment options, and requirements, helping businesses find funding that aligns with their goals

Aftercare support

With expert finance specialists and a vast lender network, we deliver tailored business funding solutions and ongoing support, ensuring your company always has access to the most cost-effective finance options on the market.

Industry compliant

We work with FCA-regulated lenders and ensure full compliance with all industry rules and regulations.

How to apply for a refinancing loan

We make business funding fast, simple, and tailored to you. Our advanced platform intelligently matches your business with the most relevant finance solutions from a wide panel of UK lenders. Whether you’re expanding, managing cash flow, or investing in growth, we’re here to help you access the funding you need, without the hassle.

Start your journey here

Women thinking about the process of applying for a refinancing loan at Prospera Funding.

Get funded in 3 easy steps

1. Tell us about which loans you're looking to consolidate or refinance

Let us know how much you’re looking to borrow, what it’s for, and a few key details about your business. No lengthy forms, just straightforward questions.