Secured Business Loans
Acceptance within 24 hours
Quick and easy application
Unrestricted use of funds
Terms from 6 months to 10 years
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.
How to Apply
What can I secure my loan against?
A lot of companies who take out a secured business loan secure their loan against their commercial or residential property. 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 you have 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 firstname.lastname@example.org.
Don’t want to be secured against your assets? Look into our unsecured business loans instead.