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An unsecured term loan typically suits trading operations with acceptable credit history (and often the owner’s personal credit profile), supported by stable bank statements and a clear ability to repay from committed monthly cash outflows. Lenders commonly look for at least 6 to 12 months trading, current banking activity and evidence of income and receivables. This can help when you need funding for refurbishing boarding rooms, expanding capacity with extra pens or units, buying grooming and cleaning equipment, financing vehicles, or smoothing seasonal cash gaps before peak bookings convert into receipts.

An asset-secured term loan usually requires the business to offer security, such as a charge over business assets including vehicles, plant or equipment. This route can be helpful where you have a stronger balance sheet or specific items that can be secured, which can reduce lender risk. Eligibility assessments typically include trading track record (often 2 plus years is helpful), credible plans and affordability, and clarity on the assets being financed. Decisions often take around 2 to 6 weeks because security searches and valuations may be required.

An invoice-backed term loan depends on the quality and collectability of trade receivables, such as regular customer invoices for boarding services including corporate or direct clients. Lenders focus heavily on cash conversion, how long customers take to pay, and the predictability of invoices. You will typically need to provide access to sales and invoice records, and the lender will assess affordability based on expected recoverable cash flows. This can be used to cover payroll and ongoing operating costs between booking and invoicing cycles, finance veterinary treatments or bulk consumables ahead of receipts, and bridge short-term gaps that seasonal demand creates.