Ferratum Business is a division of the Ferratum Group, a leading European finance company.
Ferratum is a lender who provides business finance. Ferratum was originally founded in Helsinki, Finland in 2005. They quickly expanded into business lending and currently have offices in Stockholm, Vilnius, Copenhagen, Perth and Liverpool.
By offering to lend through simple, hassle-free applications, Ferratum Business allows businesses to acquire the funding they need through a variety of transparent loan options.
Ferratum Business offers simple loans to help small to medium-sized businesses expand at the rate they want. If you need extra capital to buy new equipment, software, hire talent, increase inventory, operating capacity or more, Ferratum Business has you covered. They work with a variety of industries, particularly construction, retail, restaurants and cleaning companies.
Businesses can apply for a loan between £2,000 and £50,000. These loans typically follow a simple 18 month repayment period, with fixed monthly repayments.
To be eligible for a Ferratum business loan, you must have been in operation for at least 12 months, have £75,000 in annual turnover and be based in the UK.
You can apply online through a simple application form. There is very little paperwork and no application fees to pay upfront.
Ferratum aims to process applications within one working day, so there is minimal delay in knowing if you have been accepted. A credit check will be conducted on application, although your loan application will be based on your cash flow rather than your credit score.
Ferratum will give you an offer for the business loan, which you can choose to accept or reject. If you are happy to go ahead and finish the application, Ferratum will deposit the money into your account within the same day.
There are no hidden costs when applying for a loan with Ferratum and they aim to be as transparent as possible throughout the application process.