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With a secured IT support term loan, the lender can take security, often against business assets such as equipment. This is commonly aimed at SMEs with trading history, evidence that repayments are affordable from profits or cash generated, and acceptable credit profiles for the business and possibly the directors. For larger requests like £900k, lenders usually scrutinise cash flow, existing liabilities, and the security position before agreeing the amount and repayment period.

An unsecured term loan is typically assessed through affordability checks, where lenders focus on profitability evidence, credit history, and manageable existing debt. For IT support, they may pay attention to revenue volatility and your debtor profile, since payment timing can affect cash conversion. If approved, the lender sets instalments and interest and disburses the lump sum, with ongoing monitoring usually limited compared with transaction-based products.

An asset-backed term loan links the credit decision to equipment and infrastructure plans. Lenders typically request an asset schedule and purchase quotes, then consider valuation, condition, and potential resale value. Funding may be released in drawdowns after asset details are confirmed, for example against proof of purchase. This route can reduce the cash burden of buying mission-critical hardware by spreading repayments across agreed instalments.