Business Loans (Unsecured)
Identify the right business loan with an independent broker
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Business loans are one of the oldest forms of business finance, but the options businesses have continue to grow.
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As well as traditional banks, there is a large number of newer entrants into the market offering competitive rates and willing to lend money to large and small businesses hoping to satisfy a range of funding requirements.
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Whether you’re looking to raise working capital, purchase an asset or fund your business’s growth, as an independent commercial finance and business loan broker, we could introduce you to the most suitable loans and loans providers for your business’s needs.
What are the benefits of a business loan?
1. Business loans, provide quick access to money that can be used for any business purpose.
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2. Loans could be an option if the business has no fundable assets.
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3. Interest rates may be fixed for the term so you will know the level of repayments throughout the loan period.
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4. You do not have to give away a percentage of your profits or a share in your company.
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5. Loans are not repayable on demand, unless terms and conditions are breached.
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6. Suitable for large and small businesses.
Choosing the best business loans
There are different kinds of loans for businesses. Some loans suit certain companies and their needs better, based on things like their credit history, how long they've been around, what they own, and how they work.
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Secured Loans A secured loan is safer for the lender because it's backed up by something valuable from the borrower. This makes it easier for the lender to give a larger loan or lend to a company with not-so-great credit history.
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Unsecured Loans An unsecured loan is given mainly based on how trustworthy the business is financially and its track record. This is good for businesses without valuable things to use as a backup, and when other funding options aren't available.
Since it's riskier for the lender, there are some extra requirements. For instance, the business owners might need to own a house and have good credit history.
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Receivables Loans A receivables loan is a bit like a secured loan and is also known as invoice finance. It lets businesses get money by using their unpaid invoices as a guarantee.
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Usually, around 90% of an invoice's value is given within a day of creating the invoice. The rest is given after the customer pays, minus the lender's fees.
Benefits of using a business loan broker
Getting Things Done Efficiently. We can help you find the best products and funders for your business. This way, you can spend more time on the important parts of your business.
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Being Independent. We're not connected to any specific lenders, so we can give you an honest look at the whole market for business funding. We'll tell you the good and not-so-good things about each option.
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We Know What We're Doing. Our job is to keep up with all the changes in the business funding world. That way, we can always show you the right choices.
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Lots of Options. Figuring out the differences between different funding options and loans can be confusing. We're here to explain everything to you – different choices, rates, benefits, and even other solutions that might help your business.
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You Matter to Us. Your business is special, and we'll learn about it to find the best choices. This helps us think about not just what you need right now, but also what will be good for you in the long run.
