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BUSINESS DEBT CONSOLIDATION LOAN

Consolidate your business loans into one repayment

With a tailored business debt consolidation loan, you can simplify your loan repayments and possibly even lower your interest rates.

  • Apply for finance from £10,000 to £1 million

  • Access competitive rates

  • Choose a repayment schedule that suits your needs

Loan Type
Loan Amount
£

Already a Tide member? You can apply for a business loan and other finance directly within the Tide app.

Already a Tide member? You can apply for a business loan and other finance directly within the Tide app.

Tide has joined forces with Funding Options, becoming the largest credit marketplace in the UK. 

Providing over £1.6 billion in funding to more than 43,000 UK businesses, we’re on a mission to help business owners grow with confidence. 

What is business debt consolidation?

Business debt consolidation is the process of combining multiple debts into one new loan. So, instead of managing various repayments, they’re combined into one streamlined payment plan.

You can use business debt consolidation finance to help pay off a mix of outstanding business loans, asset finance and other credit facilities, like business credit cards.

How do business consolidation loans work?

The consolidation process is designed to simplify your debts into one manageable plan.

  1. Calculate the total outstanding amount of debt that you want to consolidate. You’ll need to add up the balances from all of your loans, credit cards and other facilities. 

  2. Apply to a new lender for one, singular loan that covers the total amount. At this point, you’ll agree on an interest rate and repayment terms.

  3. The new loan will pay off all the existing debts in full.

  4. You’re left with one loan from one lender to pay off over an agreed period.

Apply now

Are you eligible for a consolidation loan?

To be eligible for any type of business loan or credit from Tide, you must:

  • Be over 18

  • Be a UK resident

  • Have a UK-based business

  • Have a UK bank account

What do you need to apply for a consolidation loan?

  • Basic information about your business, such as how old it is, and your annual revenue 

  • Information on directors and shareholders

  • Bank statements covering the past year

Depending on your business and the finance you need, the criteria may differ.

 Apply now

We've already helped businesses secure more than £1.6 billion

We’ve provided funding to more than 43,000 businesses across the UK, as part of our mission to help business owners grow with confidence.

How to apply for a business debt consolidation loan

With access to over 80 lenders, Tide will find a lender tailored to your business - and the process is simple.

  1. Tell us how much you need to borrow We’ll ask you how much you need, what it’s for, and for some basic information about your business.

  2. Compare loans without impacting your credit score We’ll connect you to the largest network of lenders in the UK, so you can view affordable credit options that suit the unique needs of your business.

  3. Apply in minutes Once approved, you’ll receive a quote from a lender you matched with.

  4. Get a decision and receive your money Depending on the type of finance you’ve applied for, credit could be available in around 24 hours.

Apply now

Access a range of business finance options from our trusted partners

Aaron MoOng Ong Buns

With the help of Tide and their team of business finance experts, I was able to navigate the complexities of business finance, and secure the necessary funds to grow my business.

Business debt consolidation vs debt refinancing

Business debt consolidation and refinancing are both strategies that involve securing a new loan to help manage existing finance obligations. But they serve different purposes.

Business debt consolidation

As mentioned, debt consolidation involves combining multiple existing debts into a single, new loan.

The main goal is to simplify your finances by replacing multiple due dates, interest rates and creditors with one predictable monthly payment.

💡 Consolidation is the ideal choice if you’re juggling various high-interest loans or credit facilities.

Business debt refinancing

Debt refinancing involves paying off a single loan with a new one, often from a different lender.

With this solution you don’t typically group outstanding debts. Refinancing is typically about securing better interest rates, terms or repayment options by moving the debt from one provider to another.

💡 Refinancing is the ideal choice when market rates drop or your business’s financial health has improved since the original loan was secured, meaning you’re eligible for better terms.

What business loans can you consolidate?

You can typically combine any high-interest, short-term, or revolving credit facility that is straining your business's cash flow into one simplified loan.

Term loans and lines of credit

Combine multiple outstanding loans - which may have high payments, inflexible terms or different maturity dates - into a single loan with one longer, fixed repayment schedule.

Business credit cards

Consolidate your balances from one or more business credit cards to escape high variable interest rates. This also means you can replace your revolving debt with a predictable, fixed-rate term loan.

Revenue based finance

Use consolidation to pay off short-term, daily or weekly repayment obligations from revenue based finance products, replacing them with a fixed, less frequent monthly payment.

Asset based loans

If the terms of your existing asset based facility are unfavourable or due to mature soon, you can include them in a consolidation loan to extend the payment timeline and potentially secure a lower overall rate.

Benefits of business consolidation loans

Possible cost savings

You could reduce your overall interest costs by combining high-rate debts into one, lower-rate loan.

Improved cash flow

Consolidating often means extended repayment terms, which means lower monthly payments.

Simplified repayments and bookkeeping

Stop juggling multiple due dates and lenders. Manage one monthly payment and simplify the admin.

Potentially better terms

Applying for a new loan could open you up to better terms, with a tailored repayment schedule.

Better financial control

With just one loan you’ll have better visibility and control over your long-term financial planning.

Apply now

Explore our other loans

Business loans

Get funding for larger business investments or long-term growth.

Explore business loans

Revolving credit facilities (RCF)

Draw, repay and re-draw capital repeatedly over the agreed term.

Explore RCF

Asset Finance

Pick up essential and specialised construction equipment without draining your savings.

Explore asset finance

Merchant cash advance (MCA)

Access flexible funding that you’ll repay as a percentage of your daily card sales.

Explore MCA

How to track your business credit score

Are you wanting to improve your business credit score?

Credit Score Insights is a simple and affordable way to help you understand, track and take action to help you boost your business credit score.

 Track your credit score

Learn more about financing your business

Explore more funding guides
Explore more funding guides

We understand businesses, it's all we do

We understand businesses, it's all we do

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