Compare ^{Business Loan} Options For 1m Shop Fit-Out Finance

Secured business loans are available to UK-registered businesses with at least two years’ trading history and valuable tangible assets. Amounts commonly range between £25,000 and £1,000,000, with repayment options up to 60 months. Lenders require financial statements and asset appraisals before making a decision, which usually takes one to three weeks. If you need to undertake significant premises work and possess the right collateral, secured loans could provide the necessary funds at competitive APRs from 3%.

Unsecured business loans allow UK companies with at least one year of trading to access finance quickly, focusing on creditworthiness rather than asset backing. Typical loan amounts are between £5,000 and £250,000, repayment terms can extend up to 36 months, and interest rates range from 6% to 15% APR. The application process is streamlined and can be approved in as little as two days, making it suitable for urgent or modest fit-out needs.

Merchant cash advances are designed for UK businesses taking card payments with consistent revenue streams. Borrowers can receive between £5,000 and £300,000, with repayments linked to sales volume—making this option highly flexible. Decisions can be reached in 24 hours to a week. The approval process is straightforward, relying mainly on your average card sales rather than traditional credit checks or asset appraisals, and factor rates start at 1.2.