As the name suggests, a business loan is a loan for your business. With Funding Market, you can borrow up to £10 million and pay the loan back over an agreed timeframe.
When taking a business loan, there are several things to bear in mind. Consider how much finance you need to achieve your business objectives. What will the funds be used for? How long do you need finance and how long will it take to pay it back?
With a business loan, you receive finance over a pre-defined period. The monthly payments and interest rate are fixed over the term. Depending on your eligibility and the size of your business, we can help you access business loans ranging from £1,000 to £10,000,000.
It’s not just multinationals and large corporations who can access a business loan. Even startups and small businesses can apply for a business loan.Money is Lent to an Entity Not an Individual
When money is lent to a corporate entity, the loan is repaid by the business, not the Director. If the company fails to pay up, the business could be liquidated to pay back the borrowed funds.Low-Interest Rate
There’s never been a better time to get financing than now. This especially applies when you spread payments over a longer time than paying back within a year. Your business has time to expand and grow without the burden of heavy loan payment.Use a Business Loan to Meet Payments
You can use your business loan to purchase stock, relocate offices and expand operations. You can also pay off existing debt, hire personnel and buy new equipment. If it relates to your business, you can get a business loan for it.
Suitable for businesses that own assets such as vehicles and commercial property. You borrow money using your assets as security. The lender recovers a bad debt by selling the assets.Unsecured Loans
Suitable for businesses that don’t own assets such as small businesses and startups. It’s also a great option for businesses that need a fast loan without offering security.Other types of loans include