If you have great plans for your business but lack the funds to drive its growth, apply now for a business loan of up to £500,000. Whether secured or unsecured finance is best for you, a business loan will help you manage your daily activities effectively whilst optimising its full growth potential.
Could your business benefit from an injection of cash to invest in new equipment, refurbish your premises or meet payroll? Perhaps you have great ideas for a lucrative project but you lack the funds to get it up and running. However you wish to drive business growth or expand your service offering, a business loan could offer the help you need to take the next step.
At Capalona, we have partnered with a number of alternative financial providers that offer both secured and unsecured business loans that can be tailored to fulfil your objectives and suit your exact situation. Depending on the type of business loan for which you are eligible, you could borrow up to £500,000 and benefit from fixed interest rates and fixed repayment terms starting from nine months to five years. With transparent pricing and no hidden fees, a business loan allows you to budget effectively and respond to the needs of your business quickly.
To find out if you qualify for business finance, please complete our short online application. You will receive a no obligation quotation from one of our alternative finance providers within twenty-four hours.
If you do not have many commercial assets listed on your balance sheet, an unsecured business loan might offer the best funding solution for you and your business. Although you may be able to access more funds via a secured business finance arrangement, you will not be required to offer any assets as security against your loan. An unsecured business loan usually offers a quicker way to access the finance you need. Shorter repayment terms are also a typical feature of unsecured finance, which means you can get a cash boost and pay it back relatively quickly.
With a secured loan, you will be asked to offer a business asset as security against the loan or, in some cases, a personal guarantee. Assets used to secure a loan tend to have a high value, such as property, land or equipment. The higher the value of the asset, the more funds may be made available to you as part of the loan. A secured business loan enables you to invest in expensive equipment, such as machinery, plant and vehicles, as well as additional premises for your business activities. As with an unsecured loan, you will repay the loan over an agreed term and in fixed monthly instalments. If you fail to make the repayments, the lender may seize the asset to repay the loan.
If you have a poor credit history and have been turned away by the high street banks, there is still a good chance that you may qualify for a business loan from one of our alternative finding providers. Our lenders tailor repayment terms to suit your business activities and, in doing so, create an affordable funding option. This tends to reduce the risk for lenders, which is why you will still be considered for finance regardless of your credit score.
To qualify for a business loan, you must be registered to operate as a UK-based business and most alternative lending providers require you to have been trading as a limited company for a minimum of two years. However, start-ups, small businesses and those with poor credit scores may still qualify for a variety of products, such as an unsecured merchant cash advance, which is repaid automatically via future card transactions.
In some cases, depending on the circumstances, you will be asked to provide a personal guarantee. This is the case for some secured and unsecured business loans. Just as a commercial asset would be seized if the loan was not repaid, the personal asset would be used to pay the remaining outstanding balance.
Thousands of businesses across the UK have benefitted from secured and unsecured loans. Please peruse our range of alternative finance options to find the best funding solution for your business.