Business loans are quite straight forward but there are different options available. Secured loans require assets as security such as property or machinery. Unsecured loans don’t require assets but often require a personal guarantee.
Interest rates will depend on the type of loan, the term length, and the lender’s assessment of your risk profile or credit score.
Different lenders have different eligibility criteria. Generally, you will need to have been in business for at least 18 months for an unsecured loan and many lenders have minimum turnover requirements.
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