Unsecured Business Loans
For loans provided without tangible security
Unsecured Business Loans
Unsecured Business Loans offer capital without the need for tangible security (i.e. property) to be provided, making them ideal for enterprises lacking significant collateral or those requiring quick funding. These loans are versatile, supporting cash flow management, asset investment, or addressing one-off expenses. They can be well-suited to a wide range of business sectors, including construction, manufacturing, IT, retail, car sales & repair, and business support services. Whether the goal is to seize a growth opportunity or navigate financial challenges, Unsecured Business Loans can be a valuable component of your financial toolkit. Below, we provide insights to assist in your decision-making before initiating a detailed discussion and application with us.
YOUR PROJECT, OUR MISSION
Supporting UK businesses with access to Finance That Fits
Who is this product for
Unsecured Business Loans are suitable for a wide range of sectors including Construction, Manufacturing, Food Processing & Printing, Retail, Car Dealers, Garages & Mechanics, Business Support Services, Wholesale, IT & Communications, Professional Scientific and Technical Activities, Hotels & Restaurants, and Health & Care.
These loans are ideal for businesses seeking growth, managing cash flow, or covering unexpected expenses. They benefit companies in various stages, especially those without significant assets for collateral or needing swift financial support for specific projects or operational expansions.
Available loan amount
Unsecured Business Loans typically offer amounts ranging from £1,000 to £500,000, catering to a variety of business needs. The specific loan amount available to a business depends on factors such as its credit history, trading duration, and trading performance.
Loan term
The term for Unsecured Business Loans typically spans 1 to 5 years, tailored to align with your business’s purpose and needs. Short-term loans are especially suitable for addressing unexpected cash flow issues or seizing business opportunities, such as maintaining liquidity for larger-than-normal contracts. This ensures businesses can manage financial obligations efficiently while capitalizing on strategic opportunities.
In contrast, longer-term loans are more apt for investments that permanently expand business operations. These could include purchasing significant tangible assets like machinery, or intangible assets such as a competitor’s goodwill and client base, or expanding the workforce for long-term benefits.
Please note, this summary is not prescriptive as every business is unique. We will discuss your specific business and requirements to ensure the correct product type and loan terms are provided.
The application, approval, and completion processes
The application process for Unsecured Business Loans involves preparation and presentation of the required documentation. Fit to Lend offers comprehensive support throughout this journey, beginning with a detailed assessment of the borrower’s circumstances, needs, and plans. We specialize in identifying the most suitable product that aligns with the borrower’s objectives.
Our role extends beyond mere facilitation; we endeavor to craft a credible and persuasive proposal to enhance the likelihood of lender approval and to secure an offer on terms most favorable to our client. By remaining actively involved at every stage – we navigate the complexities of the process to meet your completion timeline. Our commitment is to ensure that from the initial application to final completion, every step is handled with diligence and expertise. This approach minimizes delays and aligns with your business goals, ensuring a smooth transition throughout the financing journey.
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Supporting UK businesses with access to Finance That Fits
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questions
&
Answers
Yes, we charge a transparent and fair fee of 0.5% that's typically payable at the end when the loan completes, and in our opinion borrowers should be extra cautious if a broker ever offers to work without charging fee. In these circumstances the broker's income may be based solely on commissions paid by lenders, and commissions vary significantly between different lenders, so the borrower needs to be confident that the broker is not inappropriately influenced by lender commissions. It is critically important that the broker has the borrowers best interests front & centre when presenting choices and making recommendations. Our fee is modest, and if you take a look at what it represents as a portion of borrowing costs over the loan term, you'll see why we're confident it will be far outweighed by the savings we achieve for borrowers and the value of the close support and guidance we provide.
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Rate are usually higher for Unsecured Business Loans.
Check here for Unsecured Business Loan current pricing.
It can be very fast because there is no need for much of valuation and legal work that takes up so much time in secured lending cases. 24 hours is possible in some cases.
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working with lenders, for borrowers
Supporting UK businesses with access to Finance That Fits
Other Commercial Finance Solutions
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EXPERT EVALUATION, EFFECTIVE EXECUTION
Supporting UK businesses with access to Finance That Fits