FINANCE OPTIONS

Understanding Unsecured SME LoanS

An Unsecured SME Loan is a micro, small, and medium enterprise financing option that does not require collateral, designed to meet the financial needs of smaller enterprises in the UK. These loans are ideal for working capital, business expansion, or purchasing new equipment. With quick access to funds and flexible use of capital, SMEs can thrive without the burden of providing physical assets as collateral.

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What are the benefits of an unsecured SME loan?

Unsecured SME Loans offer quick access to necessary funds without collateral requirements, ideal for small and newer businesses. Businesses can access amounts ranging from £2,500 to £500,000, depending on financial health and credit score. The decision process is swift, with initial decisions from 2 days to 3 weeks, ensuring businesses can act quickly on opportunities. Competitive interest rates ranging from 4% to 20% APR make these loans an economically viable choice.

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No collateral required
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Quick approval process
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Flexible repayment options

What are the Types of unsecured SME loans?

Business Line of Credit

Suitable for SMEs with a minimum revenue of £50,000, offering £5,000 to £250,000. Terms range from 6 to 24 months.

Business Line of Credit

A Business Line of Credit allows managing cash flow, covering seasonal shortfalls, with interest rates between 6% to 15% APR. Decisions take 1 to 2 weeks. Retailers often use it to purchase seasonal stock, making it a versatile financial solution.

Merchant Cash Advance

For card sales exceeding £5,000 monthly, offering £2,500 to £300,000 with terms from 3 to 18 months.

Merchant Cash Advance

The Merchant Cash Advance suits short-term working capital needs, with decisions in 2 to 5 days. Repayments are sales percentage-based. Popular in hospitality sectors like restaurants for premises refurbishment.

Peer-to-Peer Business Loan

Requires 12-month trading history, providing £5,000 to £500,000, with terms from 12 to 60 months.

Peer-to-Peer Business Loan

Peer-to-Peer Business Loans offer 4% to 20% APR, depending on risk. Suitable for business expansions and new product developments. Lenders evaluate applications individually over 1 to 3 weeks, making it ideal for tech startups.

What is an unsecured SME loan?

Application and Approval Processes

Applications require financial documents, online form completion, and credit checks, completed in 2 days to 3 weeks. This streamlined process is crucial for securing funds swiftly.

Regulations and Compliance

UK lenders must adhere to FCA regulations, promoting transparency and responsible lending. This regulation ensures clarity in terms for all SMEs seeking financing through our platform.

Borrowing Capacity and Rates

Businesses can borrow between £2,500 and £500,000, with amounts influenced by credit scores, revenue, and lender assessment. Interest rates range from 4% to 20% APR, affected by business stability.

FAQ’S

How much can I borrow with an Unsecured SME Loan?
What is the decision timeframe for an Unsecured SME Loan?
What are the interest rates for Unsecured SME Loans?
What are the eligibility requirements for different loan types?

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