FINANCE OPTIONS

^{Understanding} Bad Credit Unsecured Business Loans

Q: How much can I borrow with a bad credit unsecured business loan?

Businesses can borrow between £1,000 and £2,000,000, depending on their annual revenue, business longevity, and transaction history.

Q: How quickly can I get a decision on my loan application?

Initial decisions are typically made within 1 to 2 business days, with funds available 1 to 7 days post-approval, depending on application completeness.

Q: What are the typical interest rates for these loans?

Interest rates for Bad Credit Unsecured Business Loans range from 10% to 25% per annum, with factor rates ranging between 1.1 and 1.6.

Q: What are the key eligibility requirements for these loans?

Eligibility varies by subtype but generally includes minimum trading history, revenue generation evidence, and a flexible approach to credit history.

Bad Credit Unsecured Business Loans are tailored financial products designed for UK SMEs that do not require collateral. They cater specifically to those with limited or poor credit histories, enabling access to funds that may not be available through traditional banking means. These loans are pivotal in facilitating business operations by covering short-term cash flow gaps, emergency expenses, and essential purchases without needing collateral.

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What are the ^benefits of Bad Credit Unsecured Business Loans?

One of the main benefits of Bad Credit Unsecured Business Loans is their accessibility to those with poor credit. They provide an opportunity for businesses to secure funding swiftly, often with funds available within 1 to 7 business days of approval. Typically, borrowing amounts range from £1,000 to £2,000,000, accommodating a wide spectrum of business needs.

Flexible funding options

No collateral required

Access for bad credit

What are the different types of Bad Credit Unsecured Business Loans?

Short-Term Unsecured Business Loans

These loans range from £1,000 to £50,000 with terms of 3 to 12 months, suited for businesses with at least 6 months of trading. They offer swift funding to cover emergency expenses and short-term cash flow gaps, with interest rates between 10% and 25%.

Short-Term Unsecured Business Loans

Short-Term Unsecured Business Loans require businesses to have a minimum trading history and are available for a wide range of sectors. Primarily used for emergency expenses, these loans boast a decision time of 24 to 48 hours. They cater to businesses such as retail and hospitality, requiring immediate financial solutions.

Merchant Cash Advances

Merchant Cash Advances offer amounts from £5,000 to £300,000, with repayment linked to sales volumes. Particularly beneficial for businesses with significant card sales history seeking funding for growth initiatives.

Merchant Cash Advances

Targeted at businesses with established card sales, Merchant Cash Advances are ideal for marketing campaigns or stock expansion. Decision times range from 3 to 5 business days, and repayment is a fixed percentage of daily sales. This option is flexible for industries like retail and tech.

Revenue-Based Financing

Revenue-Based Financing provides £10,000 to £2,000,000 to firms with consistent monthly income, focusing less on credit history. Loan terms vary from 3 to 24 months.

Revenue-Based Financing

Suitable for larger funding needs, Revenue-Based Financing considers consistent revenue as key eligibility. Ideal for sectors like manufacturing or tech, these loans support R&D investment and business expansion, with a decision time of 5 to 7 days.

What is a Bad Credit Unsecured Business Loan?

Application Process

Applications for these loans are generally online, requiring basic company information, financial statements, and transaction histories. Initial decisions are made within 1 to 2 business days, highlighting the efficiency of the process we facilitate.

Regulatory Requirements

Lenders are regulated by the FCA to promote fair lending practices, ensuring transparent terms. We adhere strictly to these guidelines, ensuring our clients receive compliant and fair financial products.

Borrowing Capacity and Rates

Borrowing capacity ranges from £1,000 to £2,000,000, influenced by factors like annual revenue and business performance. Interest rates, between 10% and 25%, reflect the enhanced risk. Our platform provides competitive rates tailored to your specific business needs.