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With an unsecured cash-flow based term loan, the underwriting centres on whether you can sustain instalments from day-to-day operations. Many lenders look for suitable trading history and evidence such as accounts, and they may assess DSCR or an equivalent debt-servicing measure. For amounts around £1m, some routes may require a personal guarantee depending on size and risk profile. Terms are commonly 12 to 60 months, and pricing is often fixed or variable within a typical market range of around 8% to 20% per annum.

A secured equipment or asset-backed term loan converts eligible fleet or equipment purchases into a structured repayment plan. Eligibility usually depends on the asset type and value, plus affordability and debt-servicing coverage. Typical amounts are approximately £250k to £2m+, and terms are often 24 to 72 months, which can align with the expected useful life of the asset. Decision times are often around 2 to 4 weeks, sometimes longer where valuations or legal checks are required. Pricing is commonly in the region of 7% to 16% per annum for secured structures.

For £1m-scale needs, a partly secured route can help bridge uncertainty by combining affordability checks with protections such as a director or owner guarantee and/or limited security. Typical amounts are approximately £150k to £1.8m, with terms often 18 to 60 months. Pricing is often around 8% to 18% per annum depending on how the risk is priced and the level of protection provided. Initial decisions are often around 1 to 3 weeks, with completion commonly 2 to 6 weeks, subject to guarantee and any security documentation steps.