Business Acquisition / SBA Loan UK

[22s]

Hi all,

I've been reading up recently on SBA loans (here's a good summary: https://www.nerdwallet.com/article/small-business/...

Essentially, they are commercial loans provided by US banks/credit unions, but are underwritten by the government.

They lend up to $5m and you can put as little as 10% down, but they do have an unlimited personal guarantee! Rates are circa 8% (at the moment...).

Is there anything similar in the UK? I'm interested in purchasing another business for around £1m and there don't seem to be a heap of competitive options (or I'm looking in the wrong place).

I've used leverage a lot for property purchases, but never for any operating business so business acquisiton loans are all new to me and I could very well be missing something blindingly obvious!

TIA