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Unsecured Corporate Loans for IT Support Companies

Unsecured corporate loans provide IT support companies with financing without the need for tangible collateral. These loans, based on the creditworthiness of the borrower, offer valuable flexibility for expanding service offerings or investing in new technologies.

Secure up to £500,000 in Unsecured Corporate 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 Corporate loans for IT support Companies?

The primary benefit of unsecured corporate loans is their ability to offer funding without requiring collateral. This improves your business's financial flexibility and credit profile. With typical amounts ranging from £1,000 to £500,000, and decision times ranging from 1 to 4 weeks, they offer competitive rates starting at 6% to 20% APR.

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Flexible funding options
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Quick access to capital
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No collateral required

What are the different types of Unsecured Corporate loans for IT support Companies?

Term Loans

Term loans cater to businesses with strong credit and at least two years of trading history.

Term Loans

These loans, ranging from £5,000 to £500,000, have lending terms from 12 to 60 months. Ideal for purchasing software or hiring staff, they require proof of revenue and may necessitate directors' guarantees. Interest rates span from 6% to 20% APR with decisions typically made in 1 to 2 weeks.

Revolving Credit Facilities

Revolving credit facilities suit businesses with a stable history and good credit scores.

Revolving Credit Facilities

Offering between £10,000 and £250,000, these are perfect for cash flow management. They typically require at least one year of business operations and allow for flexible draw and repayment over a revolving term. Interest rates are variable and decisions can take up to 4 weeks. This solution is excellent for managing short-term operational costs.

Peer-to-Peer (P2P) Business Loans

Peer-to-peer loans are accessible for startups and businesses with viable plans.

Peer-to-Peer (P2P) Business Loans

Available between £1,000 to £250,000 over 6 to 60 months, P2P loans are less bureaucratic, offering quick funding, often within two weeks. They support activities like marketing campaigns or business expansions. Interest rates range from 8% to 15% APR.

What is an Unsecured Corporate Loan for IT Support Companies?

The Application Process

Applications for unsecured corporate loans require comprehensive financial statements and business performance records. Depending on the lender, directors' personal guarantees may be required. Decision times generally range from 1 to 4 weeks, with funds typically available within a week after approval. A thorough application speeds up processing and enhances approval prospects.

Regulatory Requirements

In the United Kingdom, lenders offering unsecured loans must comply with the FCA regulations, ensuring fair treatment and transparency in lending practices. This regulatory framework assures businesses of a protective lending environment.

Borrowing Capacity

The borrowing capacity for unsecured corporate loans hinges on the company's credit score, turnover, and trading history. Loan amounts range from £1,000 to £500,000, tailored to meet various business needs. Factors like creditworthiness and economic conditions influence lending terms and rates.

FAQ’S

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