A quick cash injection can be a great benefit for both established and start-up businesses. We can help you get the financing you need to grow your business, renovate your premises, or buy more stock.
Loan Corp can help you find the right type of business loan for your needs and goals.
What is a small-business loan?
A small business loan can be used to finance the daily operations of a company. A small business loan is a cost-effective and convenient way to finance your business. This loan can be used to finance almost any purpose in your business, including boosting cash flow and purchasing equipment.
You can tailor a small business loan from one our other finance providers or Government-backed schemes to meet your specific needs.
Are small business loans secured or unsecured?
UK business owners have the option of getting small business loans. Unsecured loans typically have smaller amounts and shorter repayment terms. If you need a larger loan, you may be able to get more money at lower rates by offering an asset as collateral.
What are the various types of business loans available?
There are two types of small business loans available: secured and unsecured. There are many financing options and loans available for UK SME’s within these broad categories.
An unsecured allows you to borrow money without having to put up any of your business assets. This is a popular option for smaller businesses who don’t have a lot of collateral to offer as security.
You can also get small business loans with bad credit if you have impaired credit.
However, with secured loans, companies can borrow money and the lender will have legal authority to seize the asset until full payment.
What are the best loans for small businesses?
There are many factors that you should consider when looking for the right small business loan. There is no one funding product that can be categorically described as the best, regardless of what you need it for or how easy it is to repay.
You should ensure that you get the right amount of money, with affordable interest rates, and flexible repayment terms, when looking for the best small business loan. Loan Corp is committed to helping businesses like yours get the best loans possible.
What’s the difference between a personal loan and a business loan?
Only business loans can be used for company purchases and business purposes. This could include borrowing money to expand your business or purchase new equipment and stock. Personal loans are different because they are intended for personal use. Personal loans are often restricted by lenders so that they cannot be used for business purposes and vice versa.
How does a small business loan work?
A small business loan is the same as any other type business finance. You receive money from the credit provider upfront and you then repay it with interest and any fees within a set time frame.
Read this bridging loan guide for further information.
A variety of funding options are available to small business owners.
