Unsecured Business Loans
Unsecured business loans are available for a variety of purposes, including cash flow management, tax repayments, refinance, and business startup or expansion. Personal Guarantees are typically required, but no business assets need to be provided for security.
In summary:
- Loans available from £100K to £10m, typically over 1 to 6 years.
- Loans available for Limited Companies, Sole Traders and LL Partnerships. Sole Traders and LL Partnerships require to have been trading for at least 2 years.
- Competitive interest rates offered, typically between 7% and 15% pa and based on business specific factors such as the purpose of the loan, the nature and turnover of the business, business cashflow, business trading history, and business and Director credit histories.
- Flexi loans up to 2 years have no early repayment fee.
- Term loans offer better rates for 2 to 6 year borrowing.
- Government backed loans available, making finance more accessible.
- Loans can be used for any legitimate business purpose, eg for boosting cashflow, covering operating costs and expenses, repaying urgent VAT and Corporation Tax bills, covering staff wages, filling the gap between invoices and getting paid, supplementing seasonal income, purchasing materials, inventory or stock, or ensuring cashflow during a project with staged customer payments,
- Startup loans are available, specifically designed for newly incorporated Limited Companies.
- Established experienced business owners may not require to provide Personal Guarantees, protecting personal assets.
- Recent bank statements and Company Accounts and Business Bio/Plans will require to be provided to support the Due Diligence needed as part of a full application.
- Loans for businesses with imperfect credit histories considered, legitimate, credible "reasons why" taken into account when making a decision.