Love Finance Limited, established in 2015 and based in Birmingham, operates a digital business finance platform that offers both direct lending and brokerage services from a panel of UK funders. Regulated by the Financial Conduct Authority (FRN 738812) for consumer credit activities, it targets small and medium-sized enterprises (SMEs) across the UK with fast, technology-driven lending solutions. Its product range covers various finance options suitable for established businesses ready to trade off cost for accessibility. More details about alternative lenders can be found here.
Key Features of Love Finance Limited
This lender combines speed, a broad product portfolio, and supportive customer service via digital platforms to assist eligible SMEs quickly and efficiently.
- Fast, fully online applications with soft-credit checks; learn about online application processes for business loans.
- Same-day credit decisions with funding typically within 24 hours; see loan approval timelines.
- Wide product portfolio including unsecured loans, asset finance, VAT loans, and invoice finance; explore financing options.
- Open Banking integration to simplify underwriting and reduce paperwork; find more on eligibility requirements.
- Dedicated account managers and live chat support available through loan terms; check lender support services here.
Funding Eligibility with Love Finance Limited
Businesses generally qualify if they have established trading history and meet turnover thresholds. Personal guarantees and sector restrictions are additional considerations.
- Minimum trading period ranges from 6 to 12 months based on product type; review loan eligibility requirements.
- Annual turnover requirements vary between £50,000 and £250,000 depending on product and loan amount; check business turnover requirements.
- Personal guarantees are generally mandatory on most unsecured facilities; understand personal guarantee requirements.
- Excluded sectors include gambling, adult entertainment, weapons, speculative property, cryptocurrency trading and sanctioned entities.
- Geographically limited to limited companies and LLPs registered and operating in England, Scotland, Wales, and Northern Ireland.
Loan Options Provided by Love Finance Limited
Love Finance offers a variety of loan types suitable for different financing needs and business circumstances within specified eligibility criteria.
- Unsecured Business Loan: £5,000 to £500,000; terms 3 months to 5 years; representative APR 7.9% to 29.9%. No collateral except personal guarantee. Details here.
- Asset Finance (Hire Purchase / Finance Lease): £10,000 to £1,000,000; 1 to 6 years terms; interest rate 6.5% to 18% flat rate. Asset acts as security. See asset finance options.
- VAT Loans: £5,000 to £200,000; 3 to 12 months terms; 8% to 24% APR equivalent. Spreads VAT bill payments; no asset security. More at VAT loans.
- Invoice Finance: £25,000 to £2,000,000 facility limits; rolling 12-month terms; rates 1.5% to 3% above base plus fees. Advances up to 90% invoice value. Info at invoice finance.
- Merchant Cash Advance: £5,000 to £300,000; 3 to 18 months repayment via card sales; factor rates 1.1 to 1.4. Flexible repayments tied to card revenue. See details here.
- Vehicle Finance: £10,000 to £500,000; 1 to 5 years terms; interest rates 6% to 15% flat rate. Vehicles as security. Explore vehicle finance.
- Revolving Credit Facility: £10,000 to £150,000 limit; open-ended with annual review; monthly interest 0.4% to 2% on drawn balance. Flexible withdrawals with no collateral. More info here.
How to Apply for Finance with Love Finance Limited
The application process is fully online, designed for speed using electronic signatures and document uploads. Decisions are typically made within an hour, with funding following swiftly.
- Complete the online application form accessible via Funding Agent’s application portal.
- Provide required documents including recent bank statements, filed accounts, director identification, and asset invoices where applicable; see document checklists here.
- Undergo a soft credit search that does not affect your credit rating pre-approval.
- Sign contracts electronically for quick turnaround; funds are typically released within 24 hours after agreement.
Funding Agent’s Independent View on Love Finance Limited
Love Finance is suited to UK SMEs that seek rapid access to diverse funding with an emphasis on digital convenience. It is particularly appropriate for established businesses ready to accept personal guarantees and who understand the trade-off between higher rates and faster decisions. Business owners should consider eligibility terms and sector restrictions carefully. To assess your match with such lenders, use Funding Agent’s eligibility guides, loan calculators, and compare options at business finance overview.
