Business loans are a ‘catch all’ loan product which can be used where more specific finance products are not suitable.
Business loans can be used to finance:
Minimum and maximum amounts will vary between finance providers but typically amounts will start at £1,000 up to £25,000.
Larger loans are available and the only difference is the amount of information the banks require and their assessment process.
Business Loan terms will run from 1 to 10 years. The term you will be offered depends on the purpose of the request; a loan for the purchase of a piece of equipment for example cannot be longer than the expanded life span of that item.
If you require a larger loan than the typical maximum then you would benefit from repayments terms of up to 20 years.
To find out more simply send us an email via the Contact Us box at the foot of this page or call us on 08456 809 728.