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For a secured term loan, lenders usually focus on affordability and risk, including business cash flow coverage and your credit history. Typical borrowing amounts for this route are around £25,000 to £250,000, which means a £40k request is common. Terms are frequently 24 to 60 months, and representative interest rates in the market are often roughly 7% to 18% per year, depending on risk and security. Decision times are commonly around 1 to 3 weeks, though security checks and any simple valuations can affect how quickly you hear back.

With an unsecured term loan, the typical focus is on whether your business can afford repayments from current operations. Lenders usually review financial information and credit details, and bank statements often matter significantly in underwriting. Typical amounts can be around £10,000 to £150,000, with £40k sitting within a common range when criteria are met. Terms are often 12 to 48 months, while pricing is frequently higher than for secured borrowing, with representative market ranges roughly 9% to 28% per year. Initial decisions can be about 5 to 15 working days where documentation is provided promptly.

An early-stage term loan is aimed at newer logistics firms where lenders may rely more on projections, director experience and evidence of contracts or trading capability. Typical amounts are around £20,000 to £100,000, so a £40k need can fall within common early-stage ranges. Terms are usually 12 to 36 months. Because risk can be higher, representative interest rates in the market are often roughly 10% to 30% per year, depending on trading history length, contract strength and repayment profile. Decision time is commonly around 2 to 6 weeks, as lenders may need more time to review business plans and supporting evidence.