BUSINESS LOANS

Start-Up or Established Business

No matter what the size of your business, you are likely to find a business loan to suit you. There are many banks and independent lenders offering a competitive range of business loans on today's market, so take your time and shop around before choosing one!

The size and type of loan you go for usually depends on the size and type of your business – are you a sole trader or limited company? How much is your annual turnover?

Flexible Terms

You can usually find a flexible set of terms for a business loan. Depending on the lender, you can borrow for up to 25 years and request payment holidays or a loan which doesn't penalize early repayment. Most lenders will tailor the loan to suit your business.

Some lenders offer extremely adaptable terms, such as no fixed payments and no application/arrangement fee – however do check this as some lenders have much stricter rules.

Secured or Unsecured

Many lenders offering business loans ask you to provide a property as collateral against the loan. This can be a private or business property, so make sure you are clear on the terms. Remember, if you are unable to meet repayments your property could be repossessed.

You can find lenders who do not require a large security to guarantee the loan. You can even find those who accept applicants with a low credit rating – just take some time to shop around and you are likely to find one which suits you.