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

Add a header to begin generating the table of contents

Previously known as Northstar Loans Limited, Finsec Limited has been trading since 2002. The company is regulated by the Financial Conduct Authority (FCA) and provides loans to businesses with complex income and credit profiles.

The company is funded through a combination of private equity investment and high street bank funding.

An overview of Finsec business loans

Finsec only offers secured business loans to limited companies or partnerships. This means all borrowing must be secured on residential owner-occupied or investment property or semi-commercial property situated in England and Wales.

If there is already a mortgage on the property, Finsec will usually consider a second charge loan and, in some cases, a third charge loan. However, any existing first mortgage will take priority over subsequent loans.

Be aware that because these loans are secured, your property is at risk if you fail to pay back the loan on time. This means the lender has the right to repossess the property and sell it to recover its funds.

Secured business loans are repaid in monthly instalments, including interest, over a pre-agreed term. You can use loan funds for a variety of purposes, including to help expand your business, buy new premises, hire staff or pay for new equipment and inventory.

What is Finsec’s typical interest rate?

Secured business loans typically come with more attractive interest rates than unsecured loans because the security provided reduces the lender’s risk. However, the exact amount you pay usually depends on a range of factors such as the size of your business, its annual turnover and your business credit history.

In general, a business with a lengthy trading history and a strong financial and credit record will qualify for better interest rates than a new business with a limited credit history.

How much can I borrow with a Finsec business loan?

You can typically borrow between £3,000 and £250,000 with Finsec, although second charge mortgage contracts only offer borrowing of up to £100,000.

The amount you can borrow depends on your business’s financial circumstances and ability to repay the loan, as well as the value of the property used as security. Also note that the amount you wish to borrow combined with any amount owed to your first mortgage lender must not exceed 65% of the value of an investment or semi-commercial property or 70% of the value of their residential property.

After six months, if you have met all your repayments in a timely manner, you may be able to apply for an increased loan amount.

What is the acceptance rate for a Finsec business loan?

Finsec doesn’t publish its acceptance rates, but you’ll usually find it easier to get accepted if you meet the eligibility criteria and can show that you can comfortably afford the repayments.

That said, Finsec says it is happy to review applications from businesses with more complex income and credit profiles, so it won’t necessarily reject your application if your business is new or has a limited credit rating.

Eligibility criteria and whether you qualify

To qualify for a business loan from Finsec, you must be a limited company or partnership. This can include new companies, provided the directors, partners, shareholders or other stakeholders are happy to enter a personal guarantee secured against their property or use a business property as security.

You don’t necessarily need to have a top-notch credit rating to qualify, as Finsec considers all applications on a case-by-case basis, taking a broader view of your circumstances rather than relying solely on your credit score. This means you could get accepted even if you’ve been turned down for a business loan elsewhere.

Additional information

Before completing your application for a business loan with Finsec, it’s important to check the terms and conditions of the agreement carefully and take note of the following:

Early repayment fees

If you want to make overpayments on your Finsec business loan, a 3% early repayment fee applies.

If you want to repay your loan in full before the end of the agreed term, the maximum charge is three months of interest based on the loan balance at the time of repayment.

How long does it take to get approved?

Once Finsec has received your proposal online or via email, it will send you pre-approval within four business hours. If you agree to the terms of your loan, further checks will be carried out and you’ll need to pay for a valuation of your property, as well as provide references.

Estimated time to receive funds

Once Finsec has received the necessary paperwork and documents, as well as a satisfactory valuation and references, you will be contacted to check you are happy for the loan to complete. If so, the funds should be transferred to your business bank account the same day.

Can a loan be repaid early?

Yes, a loan can be repaid early, but an early repayment charge will apply. You should contact Finsec to discuss how much this will be.

Is security required?

Yes, Finsec only provides secured loans so you must provide security to obtain a business loan from the lender. This can be a residential property or investment property or semi-commercial property situated in England or Wales. The guarantor or borrower must be the owner of the property.

What documentation is required

When applying for a business loan with Finsec, you’ll need to provide a range of information and documentation.

Business information

Finsec will ask you to supply the name and address of your business, as well as details of the property you’re using as security. This includes the full address, approximate value and any existing mortgages.

Business owner information

You’ll also need to provide the name of all business owners, borrowers and guarantors, including their full name, home address and date of birth.

Funding requirement

You must outline how much you wish to borrow and what you plan to use the funds for, as well as the preferred term for repayment.

How to apply for a Finsec business loan

You can only apply for a business loan with Finsec through a mortgage intermediary or credit broker – you cannot apply directly. You will usually need to pay a fee to your broker as part of the application process.

To start your application, your broker will need to send a new case proposal by email or through the online form on Finsec’s website. Once approved, your broker must send a completed application form along with the other information and documentation requested. You must then pay your valuation fee so the property being used as security can be inspected.

Additionally, you must arrange a meeting with your solicitor to sign the legal paperwork. After this is complete, the valuation has been carried out and your references have been received, the funds can be transferred.

Is the application process different to other lenders?

Unlike some high street lenders, you won’t be able to apply for a business loan with Finsec directly online. Instead, you must apply through a credit broker or mortgage intermediary, and they will take care of the application process on your behalf.

How to improve your chances of getting funded

The best way to improve your chances of getting funded is to complete your application form honestly and accurately and ensure you meet the eligibility criteria. Providing the necessary documentation and references quickly will also help your case.

Pros & cons of a Finsec business loan

Before choosing a Finsec business loan, be sure to consider the pros and cons.

Pros

Loans are available to new businesses
You don’t have to have a perfect credit history to apply
Interest rates are typically cheaper with a secured business loan
You can repay your loan early (though a fee applies)

Cons

You can’t apply directly and must apply through a credit broker
Fees apply
Your property could be at risk if you fail to keep up with your repayments
Only secured loans are available

Alternative funding options for different lenders

If you’re not sure a business loan from Finsec is the right choice for your company, there are plenty of alternative funding options to explore from other lenders. These include:

Why use a finance broker?

A finance broker can simplify the process of comparing and applying for business loans. By working with a range of lenders and products, they can narrow down options that better fit your circumstances. This can be particularly useful if your business is newly established, has a limited credit history or has faced debt issues in the past.

A good broker will explain any fees upfront and manage the application process on your behalf.

However, some brokers charge for their services, either as a flat fee or a percentage of the amount borrowed, so it’s important to confirm the cost before proceeding.

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.

Hannah Taylor

Swoop made the entire funding process incredibly straightforward and stress-free. From the outset, the platform was easy to navigate and clearly designed with businesses in mind. The team took the time to understand our needs and presented funding options that were genuinely relevant, rather than a one-size-fits-all approach. What really stood out was the level of support throughout the process. Communication was clear, responsive, and professional at every stage, and we felt well informed from initial enquiry through to completion. The expertise and transparency provided gave us real confidence in the decisions we were making. Overall, Swoop is an excellent solution for businesses looking to explore funding options efficiently and with expert guidance. I would highly recommend them to any business seeking a reliable, knowledgeable, and customer-focused funding partner.

Jan 23, 2026

Michael

A user friendly and intuitive platform that did not make the process onerous. Also Ikrah Ramzan, the Asset Finance Funding Manager was helpful, engaging, and supportive through the process.

Jan 20, 2026

Paul Brogan

Great service nice people pleasure to work with, highly recommend them

Jan 16, 2026

Peps Cafe

Very good customer service 👏

Dec 13, 2025

Rachel Martin

Working with the team at Swoop Finance has been genuinely brilliant, both as a partner and as an accountant, recommending them to clients. Their platform makes the funding process feel clear and accessible, and their team really take the time to understand each business before suggesting options. I’ve referred several clients through Swoop this year - from start-ups to established companies and each one has come back saying how seamless and supportive the experience was. From my side, collaborating with Swoop has been effortless. They genuinely care about helping business owners grow sustainably, and their communication and professionalism make them a standout partner in the finance space. Great for accountants looking to add value to their clients and for business owners looking to explore funding with confidence.

Dec 12, 2025

Taz Allinson

Working with Swoop has been brilliant. They’ve been a great brand to collaborate with behind the scenes, and our clients are already feeding back positive results after using Swoop to access funding for their businesses. Highly recommend!

Dec 9, 2025

Frank Coelho

Fantastic tool for business owners. It simplifies the funding landscape and brings everything into one dashboard. I was able to see my options quickly without the usual hassle. Very impressed with the service.

Dec 5, 2025

BuildBright Contractors

We recently worked with Swoop Funding to help finance our new van purchases, and the experience was outstanding from start to finish. The process was smooth, transparent, and far easier than we ever expected. A special shout-out goes to Ikrah, who was absolutely fantastic throughout. She was proactive, knowledgeable, and incredibly supportive—always quick to respond, always clear in her explanations, and genuinely committed to finding the best possible solution for us. Her professionalism and friendly approach made the entire journey not just stress-free, but genuinely enjoyable. Thanks to Swoop—and especially Ikrah—we were able to secure the right funding quickly and confidently. We couldn’t be happier with the service and highly recommend them to anyone looking for business finance done right.

Nov 18, 2025

Claudia Mirabela Costea

A bit late with my feedback but I want to recognise how supportive swoop has been with assisting me to find the best funding for my tiny business.In a world full of possibilities it is rare to find people to help you explore the right paths for your needs.I want to also recognise Daniel M. On this ocassion as he was very professional and prompt to get involved and emailed me all the resources I needed

Oct 19, 2025

Todd Holden

Swoop have been nothing short of excellent. From sign-up to installation, the whole experience has been great. I can’t recommend them highly enough. There’s no more lag when streaming, and the service has been so good that I’ve also switched my business internet to Swoop. I’m really glad to now be on FTTP- previously, I was using wireless 5G for home and FTTN for the business, and neither came close to the speed and reliability we have now

Oct 15, 2025

Create your free Swoop account to easily apply for startup business funding

Ready to grow your business?

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.