Want to fund your business but no collateral to pledge? The unsecured business loans are just you want to fulfil your purpose and have your own income. These loans have been an intrinsic source of funding for the small or start up ventures, which do not have any assets to secure the loan. Business firms can easily get funds on an immediate basis, as they can apply for loans through a simple online procedure.
Lenders Club, as being a reliable FinTech lender in the UK, offer such business loans to lend up to £250000 pound, but it largely depends upon the circumstances and requirements of the businesses.
When you apply for the secured loan, the first criterion that the lender asks for is the security. If you agree to put an asset against the loan, then you have to be very sure about the proper repayment. Missing or no repayments permit lenders to take the possession of the given collateral. On the other hand, the unsecured business loans in UK are away from such risks. At Lenders Club, we consider these things instead of the collateral:
- Trading history of the company
- Personal guarantee (but not mandatory)
Furthermore, we have classified our business loans into two categories and these are:
Business Loans for Bad Credit
Credit scores work as the reliable factor of the small businesses, but the poor score can pose difficulties in the way of getting funds. The conventional lenders hesitate to risk their funds, but it is where we stand for you with providing business loans for bad credit. Most of the lenders analyse the risk involved in funding the business with their credit ratings, especially when there is so much uncertainty in the overall economy.
Among the features of the loans are – online application system, no documentation, no collateral and no upfront fees. The interest rates may be somewhat higher than the standard loans, but they can be flexible at the same time.
Short Term Business Loans
Do you need extra funding for locating a small enterprise? Are you looking to expand your existing venture? If your answer is yes, then start applying now for short term business loans. These are perfect for the businesses that require a quick financial relief and certainly hate to indulge in the long term debts. Perhaps, the interest rates may be higher but the convenience of getting the funds is always there.
For submitting the applications, you don’t need any paperwork, as you can follow the procedure online. It would be better to familiar us with your requirements early so that we can finalise the terms and conditions accordingly.
Benefits of Unsecured Business Loans in UK
Lenders Club vows to fulfil your wish of financing the business needs. We feel contented to contribute in the growth of your company. It is the reason why we have included these benefits in our deals on business loans in UK:
- Funds according to your requirements
- Rationally priced interest rates
- Uncomplicated application procedure
- Fund disbursal within 24 hours
Our business loans will suit maximum of your purposes. It is your business so apply now to use the funds for its future growth.