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Get a business loan that treats you right

Achieve your business goals and feel in control with a Monzo loan.

To be eligible to apply you must be 18+, a sole trader, and have a Monzo Business account. Ts&Cs apply.

Quick and simple

Quick business loans, there’s no waiting around. If approved, you’ll have your money in minutes.

All in one app

Choose your repayment date that works best for you. See your remaining balance at glance, alongside your pots.

Fair - no fees

Make your repayments early or pay extra whenever you want, with no fees. We don’t charge late fees either.

Representative APRs

Our Representative APR for loans of more than £10,000 and up to £25,000 is 14.8% APR. For loans up to £10,000 it's 30.1% APR. The loan terms vary depending on the amount you borrow.

For Representative APR 14.8%: If you borrow £18,950 over 60 months, at a simple annual interest rate of 13.9% (fixed), the total amount you'll repay is £26,380.35

For Representative APR 30.1%: If you borrow £3,000 over 24 months, at a simple annual interest rate of 26.8% (fixed), the total amount you'll repay is £3,884.57

How can our sole trader loans help you?

A Monzo Business loan allows eligible sole traders to source finance.

With our sole trader business loan, you can choose how much you would like to borrow (£200 - £25,000) for your business and for how long. The loan terms vary depending on the amount you borrow. See at a glance what you’ve paid, how much is left to pay, and how much it costs. 

Choose a repayment date that suits you, and change it if you need to (there's no fee!). If you need to change it more than once you can with no fee, you'll just need to get in touch.

Expect more from your loan

If your business is growing, you shouldn’t have to jump through hoops if you want to repay early or pay off a little extra. Repayments are no problem with a Monzo loan, you can do this straight from the app with no fee.

It makes sense that if you pay extra you’ll reduce your monthly repayments and the total cost of your loan so that’s exactly what happens.

Customise how you see & manage your loan

Running a business is hard work. Whether your loan is for managing cash flow, paying suppliers or trying to grow your business, give it a name and add an image of your choice.

Your loan sits alongside your Pots, so it’s easy to see the progress you’re making at a glance.

Human help, when you need it most

We want you to feel comfortable telling us when something’s wrong (whether that’s struggling to obtain clients, chasing late payments or something else).

If you need some extra support, we’ll do everything we can to help you get back on track.

The best way to get in touch with us is via in-app chat to discuss your circumstances with a financial difficulties specialist and find out how we can support you.

What is an APR?

APR stands for annual percentage rate. It tells you the rate of interest you'll pay on an annual basis including any compound interest and expected fees (like upfront fees). It won't include missed payment fees or early repayment fees – but we don’t charge these.

Representative APR. You may see two types of interest, representative and personal. The representative rate is what we'd reasonably expect to offer at least 51% of people. By law, we have to show you this. But we'll always tell you the exact rate you'll pay, and what that means in pounds and pence, before you borrow from us. The rate you’re actually offered is your personal APR – this is usually based on things like your credit score.

Frequently Asked Questions

Can I get a new business loan?

We only offer loans to Monzo Business customers (subject to eligibility). You must also be 18+ and a sole trader to apply for a loan. We can only offer you one loan across your Business and your Personal Monzo accounts.

What happens if I am late paying my loan?

We understand being self employed can be hard. You can catch up with your loan payments in the app. We don't charge extra fees if you’re late, so don’t worry!

We may report missed payments to credit reference agencies. This might negatively impact your credit score and make it harder to borrow in future.

If you need to miss a payment you can find out more about what to do here

How can I check if I am eligible for a sole trader loan?

You can see whether you're eligible for a sole trader loan in the app. Find out more here

Find out about Monzo Business

Over 400,000 business owners have already changed the way they do business banking. Sign up from your phone to join them. Or sign up online.

If you already have a business account somewhere else, find out how to switch to Monzo Business