^Get Your £900k Construction Business Loan Today

Senior unsecured term loans are typically available for UK limited companies, LLPs or sole traders with trading history. Lenders look for your ability to service repayments from operating cash flow, plus evidence of construction turnover and profitability, often supported by accounts or management accounts. Amounts often range up to around £1.5m for many SMEs, with terms commonly 24 to 60 months. Decision times are often around 1 to 4 weeks after full information is received, with rates often in the mid to high single digits up to low teens depending on risk and term.

For a secured term loan, lenders focus on affordability in the same way, but also assess collateral. If you are looking at plant, equipment or other assets that can be legally secured, the process typically includes asset evidence, valuations and checking legal enforceability of security and any existing charges. Terms are often 36 to 84 months, with decision times commonly 2 to 6 weeks once asset evidence and valuation information is provided. Pricing can be lower than unsecured for comparable borrowers, often mid-single digit to low-teen ranges, depending on security value and overall risk.

Project-focused facilities suit construction SMEs with a defined project or pipeline. Lenders typically require project documentation such as budget, programme and expected income or contract terms, alongside evidence you can deliver. Because the risk profile can be higher while the project progresses, pricing can be higher than standard term loans, with ranges often high single digits to low teens for many SME cases. Typical amounts can be £200k to £1.5m+, and structures may run as a bridge-like period of about 12 to 24 months with a follow-on term, or a blended term of around 24 to 60 months. Decision times are often 3 to 8 weeks after a full project pack is submitted.