Online Business Loans
You can compare lenders and business loans easily online in just a few steps. Get started with an online quote today.
- Compare a wide range of lenders and rates
- Check your eligibility in minutes
- Find out how much you could borrow
It's fast, free and won't affect your credit score
Gone are the days when you must visit a traditional lender in person to apply for a business loan. Now, you can do it in your own time, comparing multiple lenders in one place, and all you need is an internet connection.
What are online business loans, are you eligible and how can you get a business loan online? Keep reading to learn more.
What is an online business loan?
An online business loan is a loan you can apply for online instead of visiting a loan provider in person. This process makes applying for a loan more convenient and much quicker. From getting a quote online and filling in your loan application to receiving a lending decision, the entire process is managed online.
The rise of online lenders
The financial landscape is ever-evolving, with the advancement of machine learning, AI and open banking, it’s now easier, quicker and more accurate for lenders to assess a borrower's creditworthiness. And with comparison platforms like Capalona, the power is in the hands of the borrower; finding and comparing multiple lenders in one place online means you can secure the best loan rates, helping your business grow.
So, what business loans can I apply for online?
At Capalona, we integrate with multiple online lenders providing online decisions and funding for various loan products, including:
Unsecured and Secured Loans - You can apply for up to £500,000 with an online unsecured loan and more than £2 million with a secured business loan. The online application for both requires you to upload relevant documents to help the lender process your application. Documents include proof of ID, cash flow forecasts, a business plan, and bank statements.
Merchant Cash Advance - You can apply for up to £500,000 with a merchant cash advance. To process your online application, the lender will need to see bank and card statements to help predict your future card sales. The application takes just a few minutes, with the lender usually making a decision quickly.
Invoice Finance - Instead of waiting for the full invoice term for customer payment, you can access the cash early through invoice finance. Once set up with the lender, you can use their online platform to upload one or multiple invoices and receive payment almost immediately.
Startup Business Loan - If you’re starting a new business and it’s less than 36 months old, you might be eligible for a startup business loan. Apply online for a startup loan and access between £500 and £500,000. As long as you meet the loan criteria, you can apply online.
Benefits of a business loan online
- It saves you time. You’re a small business owner, which means your plate is already full. By applying for external finance online, you remove the hassle that so often accompanies traditional business bank loan applications.
- Fast lending decisions. Particularly if you’re applying for unsecured loans, the lending decision can be within a matter of hours. This frees you up to focus on business operations, not bogged down in arduous loan applications.
- More flexible funding options. Online lenders assess loan applications on a case-by-case basis — their lending requirements aren’t as stringent as high street loan providers. This enables them to tailor business finance options to the customers’ specific needs.
- Lower fees. Online lenders don’t have as many overheads, which can mean they pass the savings on to their customers. So, you might find that you pay lower interest rates or fees when applying with an online lender.
How to apply for a business loan online
Applying for a business loan is quick and easy with our online business loan comparison tool. Simply share basic information about your business and the kind of loan you’re looking for, and let our platform do the heavy lifting for you. We’ll instantly show you eligible loan products.
Expand each loan to learn more about it, and if you like the look of one, simply click on the lender to continue with your application online.
Ready to get started? Find and compare online business loans.
About the author
Adrian T
5/5
Amazingly fast, efficient service, minimal paperwork. So much faster than my business bank of twelve years.
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