Braemar business loans: Rates, eligibility & more

Founded in 1992, Braemar Finance provides finance solutions to businesses across the UK. It has helped to provide funding to medical professionals, care, residential and nursing homes, funeral directors, legal professionals and accountants, among others.

This review takes a look at the types of finance solutions Braemar offers.

An overview of Braemar business loans

Braemar offers the following business finance options:

Business loans

You can use a business loan from Braemar to help start or expand your business. You’ll be able to borrow a lump sum of cash to help get your business off the ground or renovate an existing business premises, for example. You then repay the amount borrowed, plus interest, in monthly instalments over a set term.

As these loans are unsecured, you don’t need to use an asset such as property or equipment as collateral.

Tax loans

Designed to help you manage your cash flow, this unsecured loan enables you to spread the cost of your tax bill into more management monthly payments. These repayments are fixed over a set term. A tax loan can help you cover corporation tax, capital gains and crossover tax.

Debt consolidation loans

This type of loan enables you to combine several existing debts into one more manageable monthly repayment. This means you only have one lender to deal with, and you may benefit from more favourable terms and interest rates, helping you to pay off your debts faster and more cheaply.

Asset finance

Braemar offers two types of asset finance – hire purchase and leasing. In both cases, your borrowing is secured against the asset you wish to acquire (such as equipment or vehicles).

With hire purchase, you acquire the equipment you need for your business and then repay the amount borrowed over an agreed period – usually five to seven years. These instalments cover the capital cost of the asset and the interest. Once you’ve made all your repayments, you own the asset.

If you opt for leasing, you rent the asset from Braemar over an agreed period, and pay off the cost of the asset, plus interest, during this time. At the end of the agreement, you can choose to either make a further payment and continue to use the asset, sell the asset and keep most of the income from the sale, return the asset to Braemar, or sign a destruction notice if the asset has no value and can no longer be used.

Refinance

Refinancing enables you to replace or revise a credit agreement you have with another provider. It can allow you to pay over a longer term to make repayments more manageable, lower your repayments or enjoy more flexible terms.

Growth Guarantee Scheme

Braemar Finance is approved to offer finance through the Growth Guarantee Scheme (GGS). This replaced the Recovery Loan Scheme in 2024 and is a government initiative designed to support small businesses looking for finance to help them grow.

The scheme enables businesses to up to £2 million and is open to UK-based businesses with a turnover of up to £45 million.

What is Braemar’s typical interest rate?

The amount of interest you pay will depend on several factors including the type of loan you apply for, as well as your business’s creditworthiness, annual turnover and size.

Businesses with a strong financial standing and credit history are likely to qualify for more favourable interest rates than a business with poor credit or a patchy financial record.

How much can I borrow with a Braemar business loan?

The amount you can borrow with Braemar also depends on the type of loan you apply for. Secured lending, including asset finance, typically lets you borrow a larger amount of money than an unsecured loan. This is because it’s secured against an asset that the lender can seize and sell to recoup its money if you fail to repay the loan.

However, your borrowing sum will also depend on other factors, including your trading and credit history, and annual turnover.

What is the acceptance rate for a Braemar business loan?

Braemar doesn’t publish its acceptance rates. However, you’re likely to find it easier to get accepted if you meet the eligibility criteria, have a good business credit record and can prove that your business can comfortably afford to meet the repayments.

Eligibility criteria and whether you qualify

It’s best to contact Braemar Finance to find out the exact eligibility criteria as this will depend on the type of loan you’re applying for. However, you’ll typically need to be a UK-registered company and meet the necessary fraud and credit checks.

You may also need to meet a minimum trading requirement or an annual turnover requirement. To qualify for the Growth Guarantee Scheme, for instance, your turnover must not exceed £45 million.

Additional information

Before applying for finance with Braemar, check the terms and conditions carefully, keeping the following in mind:

Early repayment fees

You may have to pay an early repayment charge if you want to pay off your loan early, so be sure to check if you think this might affect you. Typically, early repayment charges are a percentage of the amount outstanding.

How long does it take to get approved?

It may take a few days to get approved for funding from Braemar, though this depends on the type of finance and the complexity of your business structure.

Estimated time to receive funds

Once your application has been approved, you should receive your funds quickly. They will usually be transferred into your bank account by Faster Payments.

Can a loan be repaid early?

Yes, it may be possible to repay your loan early, but it’s best to check your loan agreement or contact Braemar to be sure. You may have to pay an early repayment charge.

Is security required?

Whether security is required depends on the type of loan. If you are applying for asset finance, your borrowing is secured against the asset you’re acquiring. This means that if you fail to repay your loan, Braemar can repossess the asset to recover its money.

What documentation is required

To apply for a business loan with Braemar, you’ll need to provide the necessary information and documentation. This will be requested as part of the application process.

Business information

You’ll generally be asked to provide information such as the name and address of your business, and its company registration number. You may also be asked for business bank statements, financial accounts and a business plan.

Business owner information

You will also need to provide personal information for all business owners, such as names, addresses and email addresses. You will usually need to show proof of ID and address.

Funding requirement

As part of the application process, you’ll be asked to specify how much you wish to borrow and what for.

How to apply for a Braemar business loan

To apply for a business loan with Braemar you will need to complete the short enquiry form on the website, and someone will get back to you. Alternatively, you can call 01563 898297.

Your requirements will then be discussed and Braemar says it will tailor a loan over an agreed term to suit your circumstances.

Is the application process different to other lenders?

Some high street banks let you apply for a business loan directly through their website. However, with Braemar, you will need to make an initial enquiry and then discuss your requirements with a member of the team so that funding can be tailored to your business needs.

How to improve your chances of getting funded

You’re more likely to get accepted for funding if you meet the eligibility criteria and provide the relevant information and documentation quickly. Businesses with a strong financial record and good credit history also have a better chance of succeeding, but it’s best to discuss your application with a member of the Braemar team first.

Pros & cons of a Cambridge & Counties Bank Limited business loan

Pros

Range of different funding options available
You can discuss your options with an experienced team member to ensure you’re choosing the finance solution for your company
Braemar is approved to offer finance through the GGS

Cons

Fees may apply
You can’t apply directly online
If you apply for secured financing, your assets could be at risk

Alternative funding options for different lenders

If you don’t think Braemar’s finance options are the right fit for your company, there are alternative options to explore from other lenders. These include:

Why use a finance broker?

A finance broker can streamline the process of finding and securing a business loan. By accessing a broad panel of lenders, they can narrow down the options and point you towards those most likely to approve your application. This can be particularly useful if your business is new, has a poor credit record, or has faced financial difficulties.

A reputable broker will make any fees clear from the outset and manage the application paperwork for you. Some charge a fixed fee, while others take a percentage of the loan amount, so it’s important to understand the full cost before you agree to proceed.

Get started with Swoop's business funding platform

Our team at Swoop would be happy to discuss your business funding requirements with you to help you find the right deal to support your application and help your business grow.

Braemar business loan review: Interest rates, eligibility, and the application process