Secured Business Loans

Ideal for those looking for a larger capital investment

What is a Secured Business Loan?

If your business owns assets such as equipment, vehicles or property, a secured business loan might be the best business finance option for you. Secured business loans are agreements that are held by these business assets, meaning if you fail to pay, the lender has the right to repossess and sell the assets to retrieve their payment. With this type of secured lending, the amount you can borrow relates to the value of your assets, as the lender needs to know that they will make their money back in the unlikely eventuality that no payment is made.

With an extensive knowledge into this type of funding, our business partners can offer competitive rates and work with even the most complex cases. Our lenders can offer loans against UK residential or commercial property. This product is ideal for new start-ups, companies with a low turnover or for companies looking for a large cash injection. If you’re struggling to decide whether to choose a secured or unsecured loan, read on for more information.

Loans from £2,500 - £2,000,000

Terms from 12 Months – 10 Years

Flexible underwriting process

What to expect from a Secured Business Loan

Eligibility	UK homeowners that are a director of a Ltd business
Interest rate	From 1.5% a month
Use of funds	Unrestricted, can be used for any business expense
Security required	The loan is secured by way of 2nd – 6th charge.
Documents required	No bulky business plans, just information on the property acting as the security.

Application process	Quick and easy application form
Speed of decision	Acceptance within 24 hours
Repayment process	A fixed monthly repayment
On-going support	A dedicated account manager will look after your application from start to finish, as well as provide on-going support from thereafter.
Loan to Value	Up to 80% Resi, 70% Commercial

The Process

Contact us

Tell us how much you’re looking for, and what the business is intending to do with the funds.

Fill in app form and send back relevant info.

We find an offer

We will search the market for the most competitive offers for your business.

Approval

Approval within 24 hours.

Currently have an 85% acceptance rate

Transfer

The money can be in your account within a matter of days.

Am I eligible for a Secured Business Loan?

UK homeowners that are a director of a limited business are eligible for this type of loan. While some lenders may take overseas property into account, unfortunately we can’t at this moment in time. Start-up businesses are also welcome to apply for secured loans providing they meet the criteria mentioned here.

It’s a good idea to be fully prepared for your application. Knowing exactly what you need the money for should stand you in good stead when it comes to approaching the lender. However, due to the flexibility of our lenders you do not need to show a business plan, just a brief on what the money will be used for.

Once accepted, the process for a Secured Business Loan can be relatively quick, with the whole process taking around 3-4 weeks. In comparison to a bank where the same process can take around 3 months, we will always strive to complete within a month.

What assets can I secure my loan against?

A lot of companies who take out a secured business loan secure their loan against the commercial property in which their business operates. Other assets that can be secured against are items with high value, including expensive equipment and machinery or vehicles which the business cannot run properly without.

The reason lenders do this is to ensure they have security and can cover themselves should you fail to make your loan repayments. If this were to happen, lenders are reassured, knowing they have a physical asset to take back and recover their finances.

Additionally, you can secure against more than one asset; if this is the case, you may be able to apply for more finance. For this reason, secured loan applications can require less information, and you may not need a personal guarantee or a credit check in order to qualify for the loan.

So, as long as your business has assets worth securing against and you fit the other relevant criteria, this type of loan could be suitable for you. One of the most appealing things about secured business loans is that they are not specific to one sector; many businesses have different types of machinery, vehicles and other equipment that can be secured against, allowing you to take out a loan to use for other business needs.

For more details on our Secured Business Loan services, applications or loan amounts, call us on 01371 870815 or email us at info@auroracapital.co.uk.

Secured Business Loans