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The smarter way to find Unsecured Loans

What is an unsecured loan?

An unsecured loan is a business finance option that is offered without requiring a guarantor, or proof of business/personal assets.

Unsecured loans can usually be arranged quickly with minimal fuss, paperwork or documentation. Their terms are flexible and often no settlement fee is called for.

They are an ideal alternative to secured loans for businesses with limited assets.

Why choose an unsecured loan for your business?

For start-ups and SMEs looking to finance growth, it can be difficult to meet the demands of a security-based lender.

Unsecured loans offer you a way to gain the capital that you need without having to tie the loan in to assets or property that you have (or don’t have).

It is this reduced risk of accessing capital without laying your assets on the line that appeals to many business owners. Others, with few tangible assets, such as those who operate online or without premises, also find unsecured loans an attractive business finance option.

In addition, their flexible terms allow them to be used for almost any business purpose and their affordable repayments can be matched to your projected cash flow.

Where can you find a specialist unsecured lender?

At we canAt we can partner you with many unsecured loan providers. partner you with many asset finance providers.

When you apply online for a loan with us, we match your business finance needs with providers who understand your sector and have plenty of insight into the help that your business requires.

What can you use an unsecured loan for?

Asset finance can be used to lease an asset so that you are not responsible for itsUnsecured loans are incredibly flexible in what they can be used to finance. servicing or for paying in instalments towards ownership of an asset but being able to use it immediately.

Some typical uses include:

  • Businesses taking on a new, capital-intensive project
  • Businesses looking to expand their workforce
  • Businesses requiring new premises

What else should you know about unsecured loans?

Although no assets are required lenders will only offer unsecured loans to businesses that are considered creditworthy: most lenders will run a credit check before agreeing to the loan. Interest rates on repayments are often higher compared to those available for secured loans.

For this reason, many businesses use unsecured loans to borrow smaller sums – of up to £25,000 – that can be repaid quickly. The best unsecured loan rates are usually available on repayments spread over three to five years.

How much you can borrow will depend on:

  • The lender
  • The turnover of your business
  • Its credit score
  • And whether it’s profitable or not

Unsecured loans can start from as little as £500 – and they can go as high as £1 million.

If your business needs capital quickly or lacks substantial assets, an unsecured loan can be an attractive option. It can be arranged in a matter of days, sometimes hours, and repayments can be coordinated with your cash flow forecasts.

Unsecured loans are available from traditional banks as well as alternative finance providers, and you can apply to a number online today.

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