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An unsecured term loan for mobile caterers is usually a fixed-rate facility repaid in monthly instalments over an agreed period. You may be asked for 3 to 6 months of bank statements, identity and ownership details, and a short plan explaining the use of funds, such as equipment or an initial stock and packaging run. Typical borrowing is around £5,000 to £50,000, with terms often in the 24 to 60 month range. Market interest rates can broadly sit around 7% to 26% APR depending on risk and affordability.

An asset-secured term loan uses eligible assets as part of the lending arrangement, commonly equipment or a vehicle used for catering. Still, lenders carry out affordability checks and will want evidence of ownership, asset condition and relevant insurance or maintenance arrangements. Typical amounts range from £10,000 to £150,000, with terms often 36 to 84 months, reflecting the asset type and depreciation. Decisions can take about 2 to 6 weeks due to security and valuation documentation. Market rates are often broadly around 6% to 18% APR for secured SME lending.

An invoice-linked business loan advances funds based on eligible invoices and the way customers pay, rather than on one-off cash bookings. Lenders typically review invoice validity, evidence of customer acceptance and bank statements showing trading consistency, including concentration risk from larger clients or venues. Typical amounts are often £5,000 to £100,000, with facilities commonly structured on a revolving basis and agreements running 12 months or more. Costs are usually described as an advance rate plus interest and fees, which can be higher than straightforward term loans. Onboarding can often take 2 to 4 weeks depending on invoice readiness and payment evidence.