Line of credit (non-revolving)

Quick facts

Amount

From £5,000 to over £1m, depending on agreed credit limit

Term

Between 6 months and 5 years

Cost

7%-25% plus fee

Speed

From 24 hours

Purpose of finance

To ease cash flow, gain access to more working capital, or help with an emergency or opportunity

Suitable for

All businesses (except startups) – lenders may require a minimum turnover and trading history, and may value your assets

Read this article to me

A line of credit is like a business loan that’s ready to go. It’s an agreement with a lender that lets you borrow on an as-needed basis and pay back when it’s convenient. You have a credit limit, in the same way you do with a business credit card or bank overdraft. A revolving credit facility, on the other hand, is a ‘rolling’ type of line of credit.

A non-revolving line of credit has similar features to revolving credit (or a revolving credit line). In both cases you agree a credit limit with a lender, you can use the funds for a variety of purposes, you pay interest, and you can make payments at any time, as documented in your agreement with the lender.

There is one major difference: with a non-revolving line of credit the pool of available credit does not replenish after you’ve completed your payments. Rather, once you pay off the line of credit in full, the lender closes the account and you can’t use it again. So, unlike revolving credit, a non-revolving line of credit is a static product – or a one-off financial arrangement. When you have reached your credit limit, you cannot borrow more.

Both revolving credit and non-revolving credit lines come in unsecured and secured versions.

Ready to grow your business?

The Q1 Funding Playbook: Start 2026 with more cash and control

How can your business use AI to future-proof you in 2026?

5 ways to prepare for Black Friday (before it's too late)

The UK Startup Finance Report 2025: Who gets funded, who falls into debt, and where the gaps are

We work with world class partners to help us support businesses with finance

0203 514 3044

FCA registration #936513

Business funding

About

Compare & save

Other

Swoop Finance Limited helps UK firms access business finance by working directly with businesses and their trusted advisors. We act as a credit broker, not a lender, and do not provide loans or finance products ourselves. We introduce applicants to a panel of lenders, equity funds, and grant agencies based on individual circumstances and creditworthiness.
Commission Disclosure: We typically receive a commission from the finance provider (either a fixed fee or a fixed percentage of the amount you receive) upon successful placement. Different providers pay different rates. For certain lenders, we may have influence over the interest rate, which can impact the total amount payable under your agreement.
Regulatory Information:

FCA: Authorised and regulated by the Financial Conduct Authority as a credit broker (FRN: 936513) and registered as an Account Information Services Provider (Ref: 833145).
ICO: Registered with the Information Commissioner’s Office (Ref: ZA600162); registration can be verified at ico.org.uk.
Company Details: Registered in England & Wales with Companies House (No. 11163382). Registered Address: The Stable Yard, Vicarage Road, Stony Stratford, Milton Keynes, MK11 1BN. VAT Number: 300080279.

Terms: All finance and quotes are subject to status, income, and terms and conditions. Applicants must be aged 18 or over. Guarantees and indemnities may be required. Please refer to our terms and conditions and our complaints procedure for further details.