Simply Business Loans
Speak to us at Simply Business Finance and we will help you find the best option, with a suitable repayment structure. This in turn will allow you, as a business owner or financial department, to budget accordingly within your business plan.
Our competitive finance solutions can help support your business growth. Speak to a member of our team on 01273 961755
Unsecured Business Loans
Business loans can be used for a wide variety of commercial reasons. Do you need working capital, to pay a bill, to buy stock or do some marketing? Unsecured loans are a great option if you need money for your small business efficiently.
With a great many lenders to choose from, it is now possible to obtain an unsecured business loan quickly. This also means you have a greater choice in funding options when selecting repayment periods that best suit you and your business.
Simply Business Finance can find the most appropriate and best value unsecured loan for you. We manage the application process from start to finish, giving you the best chance of getting an unsecured loan approved. Save yourself the time and hassle of shopping around for the best loan by letting us do the work for you.
Terms for repayment can range from 3 to 60 months in duration. Different lenders offer different rates, conditions and options, like top-ups. This means there is plenty of choice for all kinds of businesses who require money quickly and want to make repayments over a relatively short period.
As unsecured business loans are often easier to get for companies to get, it is worth applying for one if you have struggled to get other types of loans, especially through high street banks. We can help you access a wide range of competitively priced business loan providers.
Types of unsecured loan include the following:
- Capital and interest
- Revolving credit facility
- Card terminal cash advance
- Term loan
Secured Business Loans
Secured loans are helpful for businesses of all shapes and sizes, new or established, who are willing to support the lend by offering residential or commercial property as security. Larger amounts of funding can be available than unsecured loans, and lenders can offer longer repayment terms. As well as this, more flexible repayment options such as interest-only and seasonal payments can be provided. Secured loans are ideal for businesses who need larger sums relatively quickly, but don’t have the financial status to obtain an unsecured option.
A lender will typically offer a secured loan of up to 75% Loan to Value, when residential properties are used as security. This could go up to 50% Loan to Value when a commercial property is offered as security.
Because the lender has security to support the loan amount, they are less likely to consider things like the financial performance of the business. Furthermore, they’ll be less likely to consider the time trading or any underlying credit searches of the business. They are also more likely to provide and offer more flexible and longer-term payment options.
Typical uses for a secured business loan include business purchases and start-ups. Sometimes loans will fund larger business investments. More significant projects such as refurbishments and acquisitions of larger machinery are also common uses of business loans.
At Simply Business Finance, we work on your behalf to source the most suitable secured loan terms for your business.
Secured loan options include:
- Capital and interest repayment
- Interest only
- Seasonal payments
Speak with us directly on 01273 961755
Or make an enquiry using the contact form below.