Cashflow is king
As the availability of overdrafts decreases but the opportunity for growth increases Unsecured Business Loans are proving popular.
They can be used for a range of purposes from capital expenditure to growth capital and with funds released in 5-10 business days it's a useful way of seizing that profitable opportunity. Unsecured business loans can be used across a range of businesses.
Our clients have used unsecured business loans to refurbish hotels, fund increased marketing activity in professional services businesses and to hire more staff in to a manufacturing company. Some recent examples include:
- To fund PPC and online marketing for a media company
- To quickly buy stock wholesale, that was then sold through an online shop
- To hire new staff to help a professional services business grow quickly
- To fund an HMRC liability for a Manufacturing business, when a debtor was slow to pay
Loan amounts range from £25,000 to £350,000 with flexibility and speed as core USPs.
- Flexibility: Draw the loan and then repay it immediately or repay over the loan period
- Speed: Accessing finance in 5 days can help with plugging a cashflow hole created by a slow payer, and an impatient creditor
The cost of the loan can range from a rate of 6% to 11% per annum, or it can be based on a monthly interest rate if the loan is for a shorter period.
Technically the loan isn't unsecured as the lender would take a personal guarantee but the loan product is called an unsecured loan as it does not require a debenture over a company or a security over a property.
If you need working capital for growth, or cash to troubleshoot a short term problem, then please complete the form below: