Product page - Aurora Capital

4.9/5 based on 100+ by happy customers

Apply for an Unsecured Business Loan To Help You Grow Purchase Stock Employ Staff Expand Pay Suppliers

Looking to obtain an unsecured loan for your business? We can help. We work with hundreds of lenders to get you the best loan terms possible.

6.90%

Interest rates per annum

£100,000 +

Terms from 1 month – 6 years

UK Based

No early settlement fees

£5k - £500k

Funding requirement

Our lending partners

About Securing Business Loan

Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia.

Am I eligible for an unsecured business loan?

All companies that have been trading for at least six months and have a monthly turnover of more than £10k can apply for an unsecured business loan. You do not need to be a homeowner with all unsecured lenders, but some lenders may require you to hold assets under your name.

Each lender will assess your personal and commercial credit files to determine your credit profile. This means that if you have any outstanding CCJs, this could affect your application. Therefore, we advise that you settle these before submitting an application. Liquidations, bankruptcies and IVAs may also affect your application.

What is an unsecured business loan?

An unsecured business loan allows businesses young and old to borrow money with an agreed payment schedule and interest rate. The term ‘unsecured’ means that applicants aren’t required to secure the loan against any commercial or residential property or assets; however, some lenders may ask for a personal guarantee. Unsecured business loans can be used for many different purposes, but they must be used within the business and cannot be taken out for personal use. Typical uses include:

Cash Flow
Business Growth
Stock Purchase
Settling Bills
Refinancing existing debt

Unsecured loans are usually fast to arrange, competitively priced, and are ideal for SMEs who don’t own many assets or who don’t want to put their assets up as collateral. With a variety of unsecured lenders offering loans up to £500k over a maximum term of six years, there are options for a wide variety of funding solutions. On the whole, unsecured loans are easier to secure and more accessible to a wider range of businesses. Seeking a loan of more than £500k? Look into our secured business loans instead.

How do unsecured loans work?

An unsecured business loan works in the same way as a regular business loan where repayments are made monthly, weekly or daily depending on your agreement. Loan terms can be anywhere between one month to six years according to your business needs.
The loan can be used for almost any expense in the best interest of the business. Businesses usually use these loans for growth and development, refurbishment, capital expenditure or stock. Some business owners and borrowers also use unsecured loans to consolidate other types of debt they have if the loan terms are more favourable.
Unlike secured loans, ‘unsecured’ means your loan is not secured against any personal or business assets, such as property, equipment, vehicles or machinery. An unsecured loan will most likely require a personal guarantee from one or multiple directors.

Advantages of unsecured business loans