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Secured vehicle-backed term loans are typically available to limited companies or sole traders with trading history, a UK bank account and evidence they can repay from operating cash flow. Lenders commonly take security over the vehicle or other business assets, and you may be asked for proof of vehicle ownership or existing finance position. Typical amounts for haulage businesses range from £10,000 to £100,000, and lending terms are often 24 to 60 months. Decision times are commonly around 1 to 3 weeks for initial progress, with longer security and legal checks depending on the case.

Unsecured term loans focus on credit and affordability, using information such as trading history, business turnover and recent bank statements to show repayment capacity. Typical amounts are usually £5,000 to £50,000, and £20,000 can be a common request for smaller operators. Terms are often 12 to 36 months. Decision times frequently start around 3 to 10 working days for an initial decision, with more checks potentially extending the timeline. Pricing often sits broadly in the ~10% to 25% APR range, depending on the risk assessed by the lender and the details of the business.

Asset-finance style term loans take security over specific equipment or plant, which can be useful when your growth depends on capacity and turnaround rather than only replacing vehicles. You will generally need evidence of the asset to be purchased and documentation that supports its value, ownership or contract details. Typical amounts range from £15,000 to £150,000, with terms often around 24 to 48 months to match the useful life of the equipment. Decision timing is often 1 to 3 weeks, especially when the asset documentation and valuation are part of the underwriting. Where security and paperwork are strong, pricing may be broadly in the ~8% to 16% APR range.