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For a fixed-term equipment finance loan, UK incorporated limited companies or LLPs are commonly accepted and lenders usually look for trading history (often 12+ months). The application typically needs a clear purpose for the funds and evidence the equipment matches the loan intent, such as supplier quotations. Decision times are frequently 1 to 3 weeks, depending on underwriting and additional checks. Typical amounts range around £25,000 to £250,000, and terms are commonly 24 to 60 months. Representative pricing in the SME market is often quoted around 8% to 18% APR.

An unsecured SME term loan is often considered when the business cannot easily secure lending with equipment or property, or prefers a simpler, faster setup. Eligibility typically focuses on established trading (often 1+ year), credit profile and affordability, assessed through recent bank statements and accounts. Typical amounts are commonly £10,000 to £150,000, so £50k fits many use cases. Terms are usually 12 to 48 months and pricing is generally higher than secured routes, with a realistic market range often around 10% to 22% APR. Initial underwriting is frequently 5 to 15 working days, with final approval taking longer if lenders request more information.

Part-secured term loans combine cash flow affordability with asset mitigation, such as a charge over equipment or other assets. Trading history is commonly required (often 12+ months), alongside evidence of revenue continuity and an acceptable credit profile. Typical amounts are usually £25,000 to £500,000, with £50k sometimes available where the repayment profile and security fit. Terms are often 24 to 72 months. Pricing is commonly mid-market compared with unsecured, often around 7% to 16% APR, depending on security strength and term. Decision times are often 2 to 4 weeks due to security checks, legal documentation and credit assessment.