Handelsbanken Finance

Handelsbanken calls itself a “relationship bank for your business” with much of its focus on delivering personalised and dedicated customer service to its business clients. 

If you run a business or plan to start a new venture, then you might be considering a loan from Handelsbanken. On this page, you’ll find an impartial deep dive into the Swedish bank’s business finance offering. We will explore the types of business finance available, eligibility criteria, how to apply and what to do if you are rejected by Handelsbanken.

So, whether you are considering taking out a business loan with Handelsbanken, or you are on the hunt for an alternative to the big banks, keep reading to learn everything you need to know about the popular Swedish lender. 

If you are looking for bespoke advice, then get in touch with Rangewell’s dedicated team of experts. As independent financial advisors, we can help you to determine whether Handelsbanken is the right option for you, or whether another lender better suits your needs and requirements. 

From searching the whole of market through to compiling your application and assessing your options, we are uniquely qualified to help you get the very best finance your business needs to thrive. So, keep reading to learn more about Handelsbanken, or contact us today to kickstart your business loan application with Rangewell. 

What is Handelsbanken? 

Handelsbanken is a large Swedish bank operating across the Nordic countries, The Netherlands and the United Kingdom. Established in the 1870s, the bank came to the UK in the mid-90s and has since opened more than 200 branches on British soil. 

While Handelsbanken is a stalwart of banking, it has been known to compete with challenger banks in independent service quality surveys for its services to SMEs. The bank is also ranked among “the world’s safest” and it puts significant focus upon building and continuing strong and stable business relationships. 

What types of loans does Handelsbanken offer?

Handelsbanken offers a wide variety of business loans, including dedicated SME products. The bank provides finance to support with capital investment, asset finance, cash management and even refinancing. 

Loan types include:

Asset finance

Handelsbanken offers a number of loan products that allow you to invest in the assets you need to succeed. From vehicle leasing through to conditional equipment sales and bank loans to cover full purchases, there are several different options available from the Swedish bank to support the acquisition of assets for your business. 

Commercial mortgages & real estate finance

Whether you are planning to redevelop your existing premises or need the cash to acquire another property, Handelsbanken offers dedicated corporate real estate finance. Typically, the bank can provide real estate mortgages for between 60 and 75 per cent of the property’s market value. 

The bank provides commercial mortgages and real estate finance to a wide range of different business clients, including commercial office buildings, private house cooperatives and agricultural estates.

Both fixed and variable interest rates are available, with fixing periods from 90 days to 10 years. 

Cash flow finance

One of the biggest challenges facing businesses today is poor cash flow. Unpaid invoices soon stack up and, without the funds to invest in your products, services, property or assets, it can be hard to see any opportunities for growth. 

So, like most other banks, Handelsbanken provides business financing options to improve liquidity and give extra credit when you need it most. The bank offers qualifying business customers an overdraft facility to their account for an annual fee. The overdraft comes with variable interest rates in line with the market rate.

Company vehicle finance

Handelsbanken has a car leasing service to allow business customers to access the vehicles you need to keep your team on the road. If you require up to five cars, the bank has a dedicated Company Car Leasing service. For whole fleets of vehicles, the bank provides a Vehicle Fleet and Administration Service with additional management services, including fuel cards, discounted rental cars and supplementary reporting. 

Are you eligible for a loan from Handelsbanken?

Handelsbanken is a relationship bank, so it requires business bank customers to have an account with them in the name of the borrower. The bank also has the following eligibility criteria for finance products:

• You must be a UK resident (if a partnership, then all partners must be residents in the UK)
• If you have a LLP or limited company, it must be incorporated in the UK
• If you are an overseas company, then they must be registered in the UK and have a UK branch or establishment, where both the overseas company and the UK establishment company are registered with Companies House, and the business bank account is for the UK establishment company. 

As with any business bank, there are several factors at play when it comes to being eligible for a loan. This is the minimum requirement for a business loan from Handelsbanken, but every application is individually assessed and the bank may offer you a different finance option to another lender. For that reason, we recommend working with an independent broker like Rangewell to weigh up your options and make sure you are able to access the best possible finance for your business. 

What information do you need to provide? 

The information required will depend on which loan you are applying for, however all business finance products require you to be a Handelsbanken business customer. 

You will also need to provide proof of identity, any relevant business registration documents, previous banking details and, in some cases, a financial forecast including expected turnover and tax information.

We recommend working with our team of experts to determine if Handelsbanken or another lender is right for you. 

Does Handelsbanken offer secured or unsecured lending?

Handelsbanken offers both secured and unsecured loans, depending on the finance product and your eligibility. The bank provides several different business loan products, including commercial mortgages, overdrafts and asset finance. 

What are the rates and terms? 

The rates and terms of each loan will depend on the specific product. The bank offers fixed and variable rates across different loan products for a wide range of different term periods. Handelsbanken does not publicly share information about mortgage rates, for example. 

So, to ensure you are getting the best rates and terms for your business, we recommend you get in touch with us, an independent broker, and we will be able to compare what the Swedish bank can offer you with other lenders.

What are the fees and charges?

Handelsbanken requires business customers to have an account, which is subject to a monthly charge starting from £5 a month. As well as business loans for property development and vehicle leasing, the bank provides overdraft facilities. All of the bank’s loan products have different fees and charges, depending on a number of factors. 

How do I apply?

You can apply for a business loan with Handelsbanken by contacting your local branch or enquiring online via the customer portal. Since you already need to be a business customer to be eligible for a loan, the application will go through your current bank manager.

What if you’ve been rejected by Handelsbanken?

There are many reasons why you may be turned down for a business loan from Handelsbanken. If you are rejected by the Swedish bank, however, don’t panic. There are many other different lenders on the market, some of which may specialise in working with clients like your business. 

So, if Handelsbanken has turned you down for a business loan, then make sure your next application is with the right lender for you. Speak to Rangewell’s dedicated team of advisors today, and we will take the time to understand your needs and circumstances. We are specialists in pairing business clients with lenders who suit their needs and can provide the funds they need to thrive.

Want to refinance your Handelsbanken loan? 

If you already have a loan with Handelsbanken, you might be wondering what refinancing options are available to you. Whether you are looking to access more funds or change the terms of your loan to suit your changing circumstances, the best thing to do is to speak to our expert team. 

We will search the whole of market, as well as your existing provider, to find the right refinance product to help you achieve your next business goals. 

Need more funding? 

For small businesses, it can be hard to meet all the eligibility requirements and access favourable terms from the big banks. So, if you have been rejected by Handelsbanken or you are not sure about the terms and rates they have offered you, then it’s best to speak to an impartial expert to ensure your loan really works for you. 

You may be looking for a single product, such as finance to purchase an asset, or you’re in the market for a bespoke funding package to cover different investment areas within your business. Either way, Rangewell can help.

From finding the right lender for you, through to assembling your application and determining which product(s) fit, we’re here to support you every step of the way. Want to find out more or ready to kickstart a business loan application today? Get in touch, we’d love to hear from you!