The navigation buttons on the left show you which products are available for business users and which are available for individuals.
The contact form to request free advice and a no obligation quote is at the bottom of this page.
All quotations for business loans are provided to you free of charge and on a no-obligation basis - there is no pressure, make your decision in your own time.
Business loans are available either unsecured or secured and are available for businesses of any age, from start ups to well established firms. Fast business loans can be available within 5 days if funds are needed urgently.
There are lots of different types of business loans but they all fall into one of two categories:-
Unsecured: These loans allow your business to borrow money without the risk of using your business assets as security, but please note that unsecured business loans are not FCA regulated. They are available for amounts of £500 to £500,000, over terms from 3 to 60 months and can be approved and in your bank account 1-2 weeks after the application has been submitted.
Secured: These loans let your business borrow money using an asset as security. If you do not pay back the loan, the lender can sell it to get their money back. Due to the security, these loans tend to come with lower interest rates and lenders are more likely to accept bad credit. You can borrow any amount from £26,000 – with no maximum loan size over any loan period up to 25 years. Lenders usually want to secure the loan against your business premises, but it may be possible to use residential property, land, equipment and machinery, current and future invoices or even business vehicles as security.
Secured business loans are available for start-ups if clear affordability can be demonstrated. The key to this is to ensure that a robust business plan and formal projections are in place.
Almost any purpose relating to your business, including:
Most businesses can get a loan of some type but your options may be limited by the type of business you have so check before you apply.
For example, government start up loans are only available to new businesses while many cash advance loans require you to have been trading for a set time before you apply.
How many loans can a business have?
There is no set limit to the number of loans a business can take out, but you will need to show your business can afford each loan when you apply.
Some common things that lenders like to see:-
All lenders work to different criteria, so giving a set of standard terms is impossible. They do, however, tend to look at very similar factors in assessing loan amounts and pricing. When you’re looking for funding in a hurry, a broker will try to keep the documentation to a minimum in order to keep the process streamlined. Even with this in mind, there is still some documentation that will be necessary to allow your application to progress. You will need to supply the following:-
These can normally be submitted by email to avoid having to wait for documents to arrive.
Commercial loans - A commercial loan is a simple financing option that is designed for larger businesses, typically used for; funding acquisitions, mergers and MBOs (Management Buyouts), cash flow management, funding growth & cash injections to fund future trade.
Business or Merchant Cash Advances - are ideal for businesses that take a large amount of money each month through their card terminal. They allow you to raise money quickly and repay the lender by automatically taking a set percentage off each card sale and paying it directly to the lender. The acceptance rates for merchant cash advances are very high.
Revolving credit facilities - are flexible lines of credit, designed for small and medium-sized businesses. They provide working capital finance to the business, easing any pressure on cash flow. Although there are now specialist lenders offering bespoke facilities, historically, the main type of revolving credit used by business owners was the overdraft. With overdrafts now more difficult to secure than they once were, more and more business owners are turning to flexible lines of credit through alternative sources. Funds drawn down into your bank account within 2-3 working days, if your application is successful.
Unsecured business acquisition loans - are available between £25,000-£100,000, however, only profitable businesses considered. Terms are available from six months to five years and a good credit history is required for unsecured applications. |Much larger acquisitions, mergers and MBOs (Management Buyouts) can also be funded, but this type of funding is quite different to smaller business purchases, so funding large acquisitions would be done on a bespoke funding basis.
Corporation Tax - Paying tax in one big lump sum can be difficult to manage for small businesses, especially if you’ve not been able to set aside enough money throughout the year. Failure to make the payment can result in penalties being applied which can quickly add up.
PAYE - If your PAYE is due and you don’t have the money on-hand, you will need to raise money quickly. Depending on your circumstances, we can raise money in as little as 24 hours.
Quarterly VAT - Funding a VAT bill must be considered a high priority for any business and we speak with a number of business owners who are struggling to make the payment. As important as it might be, it can be tricky to keep putting aside the money needed to pay, causing problems for the business.
VAT On Property Purchases - Commercial properties are often VAT registered, meaning VAT must be paid on them when they are bought. When you’re already putting down a large deposit to obtain a commercial mortgage, it can be tricky to also pay VAT on the purchase price. We can arrange unsecured loans for the purchase that are repaid when the VAT is reclaimed on the quarterly return.
We currently serve the following UK post code areas (for example AB - Aberdeen means all areas in and around Aberdeen whose postcode starts with AB) :-
AB - Aberdeen, AL - St Albans, BA - Bath, BB - Blackburn, B - Birmingham, BD - Bradford, BH - Bournemouth, BL - Bolton, BN - Brighton, BR - Bromley, BS - Bristol, BT - Belfast, CA - Carlisle, CB - Cambridge, CF - Cardiff, CH - Chester, CM - Chelmsford, CO - Colchester, CR - Croydon, CT - Canterbury, CV - Coventry, CW - Crewe, DA - Dartford, DD - Dundee, DE - Derby, DG - Dumfries, DH - Durham, DL - Darlington, DN - Doncaster, DT - Dorchester, DY - Dudley, EC - London, EH - Edinburgh, E - London, EN - Enfield, EX - Exeter, FK - Falkirk, FY - Blackpool, G - Glasgow, GL - Gloucester, GU - Guildford, GY - Guernsey, HA - Harrow, HD - Huddersfield, HG - Harrogate, HP - Hemel Hempstead, HR - Hereford, HS - Western Isles, HU - Hull, HX - Halifax, IG - Ilford, M - Isle of Man, IP - Ipswich, IV - Inverness, JE - Jersey, KA - Kilmarnock, KT - Kingston Upon Thames, KW - Kirkwall, KY - Kirkcaldy, LA - Lancaster, LD - Llandrindod Wells, LE - Leicester, L - Liverpool, LL - Llandudno, LN - Lincoln, LS - Leeds, LU - Luton, ME - Medway, MK - Milton Keynes, ML - Motherwell, M - Manchester, NE - Newcastle, NG - Nottingham, N - London, NN - Northampton, NP - Newport, NR - Norwich, NW - London, OL - Oldham, OX - Oxford, PA - Paisley, PE - Peterborough, PH - Perth, PL - Plymouth, PO - Portsmouth, PR - Preston, RG - Reading, RH - Redhill, RM - Romford, SA - Swansea, SE - London, SG - Stevenage, SK - Stockport, SL - Slough, SM - Sutton, SN - Swindon, SO - Southampton, SP - Salisbury, SR - Sunderland, S - Sheffield, SS - Southend - On - Sea, ST - Stoke - On - Trent, SW - London, SY - Shrewsbury, TA - Taunton, TD - Galashiels, TF - Telford, TN - Tonbridge, TQ - Torquay, TR - Truro, TS - Cleveland, TW - Twickenham, UB - Uxbridge, WA - Warrington, WC - London, WD - Watford, WF - Wakefield, W - London, WN - Wigan, WR - Worcester, WS - Walsall, WV - Wolverhampton, YO - York, ZE - Lerwick.
We offer rapid decisions in principle – often within four hours – and our business loan advisors are available to answer any questions that may arise.
Please use the form below to get free advice and a quote on the best product for your circumstances.