490k Secured Business Loans - Apply Now
Secured business loans are financial solutions where a business borrows money, using an asset as collateral. This type of loan, particularly for amounts like £490,000, offers businesses lower interest rates due to reduced risk for lenders. Companies can leverage assets such as property or equipment to secure large funds.
- Quick and easy application process
- Loan disbursed within 24 hours
- No additional charges for early repayment
What are the benefits of 490k Secured Business Loans?
One major benefit of secured business loans is their lower interest rates compared to unsecured loans, potentially ranging from 2% to 12%. Businesses can also access higher borrowing limits, sometimes up to £5,000,000, depending on the asset's value. Faster decision times, ranging from 1 to 6 weeks, help businesses plan efficiently.
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What are the different types of 490k Secured Business Loans?
Commercial Property Loan
Commercial Property Loans are available for businesses with stable income and sufficient asset value, offering loan amounts from £100,000 to £5,000,000 with terms between 60 to 300 months.
Asset Finance
Asset Finance suits businesses needing to acquire equipment or vehicles, with amounts ranging from £50,000 to £500,000 and terms up to 72 months.
Invoice Financing
Invoice Financing allows businesses to finance up to 90% of their outstanding invoice value, with terms tied to invoice lengths.
What is a 490k Secured Business Loan?
Application Process
The application process for secured business loans involves providing financial statements, ownership proof, and asset details. Decisions are made within 1 to 6 weeks, depending on thorough valuations and legal checks.
Regulatory Compliance
Lenders must be authorised by the FCA, ensuring compliance with financial stability standards and risk management practices, crucial for borrower protection.
Borrowing Capacity and Rates
Borrowing capacity for secured loans can start at £10,000 and go beyond £5,000,000, influenced by asset value and credit score. Interest rate considerations are key.
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