FINANCE OPTIONS

^Unsecured Business Loans for Vehicle Repair - Apply Now

Q: How much can I borrow with an unsecured business loan?

Businesses can borrow between £5,000 and £250,000, depending on turnover, credit history, and business nature. These loans are designed to be flexible and cater to different needs.

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

An initial decision can be expected within 1 to 3 business days. Once approved, funds are typically available between 3 days to a week post-approval, subject to complete documentation.

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

Interest rates for unsecured business loans range from 6% to 20% APR. Rates are influenced by factors such as credit score, business performance, loan amount, and term length.

Q: What are the eligibility requirements for an unsecured business loan?

Eligibility often requires the business to have been operational for at least 12 months with a minimum annual turnover of £50,000. Additional documentation may be required during the application process.

Unsecured business loans are vital for vehicle repair businesses as they provide capital solutions without demanding collateral. These loans are perfect for SMEs aiming to expand or manage operational costs smoothly, with quick, flexible access to funds.

Unsecured Business Loans

Secure up to £500,000 in Unsecured Business Loans with Funding Agent.

Quick and easy application process
Loan disbursed within 24 hours
No additional charges for early repayment

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What are the ^benefits of Unsecured Business Loans for Vehicle Repair?

With these loans, vehicle repair businesses can expect fast approval times, ranging from 1 to 3 days, and the ability to borrow between £5,000 and £250,000. This flexibility allows for seamless business operations and growth, without lengthy asset evaluations.

No collateral required

Quick access to funds

Flexible repayment options

SCALE YOUR BUSINESS TO NEW HEIGHTS

What are the different types of Unsecured Business Loans for Vehicle Repair?

Term Loan

For vehicle repair shops, a term loan offers amounts from £5,000 to £250,000, with terms from 6 to 60 months. Eligible businesses must have a turnover of at least £50,000.

Term Loan

Term loans are ideal for purchasing equipment or expanding service offerings. They carry interest rates from 6% to 20% APR, with decisions made within 1 to 3 business days. An example includes an independent garage upgrading its diagnostic tools with ease thanks to these flexible terms.

Merchant Cash Advance

Merchant cash advances offer £5,000 to £200,000 with no fixed repayment schedule, ideal for managing cash flow. These advances cater to businesses processing over £3,000 monthly through cards, providing a steady financial cushion.

Merchant Cash Advance

This option allows repayment as a percentage of daily card transactions, reflecting business performance. Designed for quick cash needs, funds are accessible within a week. Vehicle repair shops facing seasonal cash flow challenges benefit greatly from a merchant cash advance.

Revolving Credit Facility

Revolving credit facilities provide a flexible funding solution up to £100,000, offering continuous access with annual renewal. Profitable businesses over a year old find this option beneficial for emergencies.

Revolving Credit Facility

This facility supports seasonal capital needs and emergency repairs. With interest rates from 8% to 18% APR, businesses can maintain inventory and meet market demands effectively. It's an excellent strategy for garages needing bulk inventory purchases.

What is an Unsecured Business Loan for Vehicle Repair?

Application Process

The application for unsecured business loans involves filling an online form and submitting financial documents. Initial decisions arrive in 1-3 days, with potential funding in a week. Our streamlined application process ensures swift approvals.

Regulatory Compliance

Unsecured business loans comply with FCA regulations, ensuring transparent and fair lending. Our adherence to FCA guidelines reflects our commitment to ethical financial practices.

Borrowing Capacity

The borrowing capacity ranges from £5,000 to £250,000, influenced by factors like turnover, credit history, and business type. Our competitive rates from 6% to 20% APR ensure your financial needs are met efficiently with suitable terms.

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FAQ’S

How much can I borrow with an unsecured business loan?

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

What are the typical interest rates for these loans?

What are the eligibility requirements for an unsecured business loan?

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^Unsecured Business Loans for Vehicle Repair - Apply Now

What are the ^benefits of Unsecured Business Loans for Vehicle Repair?

SCALE YOUR BUSINESS TO NEW HEIGHTS

What are the different types of Unsecured Business Loans for Vehicle Repair?

Term Loan

Term Loan

Merchant Cash Advance

Merchant Cash Advance

Revolving Credit Facility

Revolving Credit Facility