There are times when a business needs to raise funds but either does not wish to use, or indeed does not have, business or personal assets against which to secure the funding. This is when an unsecured business loan can provide a relatively straightforward means to raise funds, providing you have a reasonable credit score.
Unsecured business loans are renowned for their flexibility. They allow businesses to manage their repayment terms, including the length of the loan, the frequency of the repayments and the ability to fix the monthly repayment amount.
There are many uses for such loans for both relatively new and existing businesses from funding day-to-day expenditure or projects that require a more significant investment. They are popular amongst the UK motor trade, providing a flexible and affordable means to improve their choice of vehicle stock for their potential customers from cars to vans. Stocking finance options can provide a straightforward approach to releasing working capital, improving cashflow and expanding customer choice.
They can also be utilised to help finance tax liability, spreading payments and reducing strain on your cashflow. Even when companies know a tax bill is due it can be difficult to budget for it or indeed ensure you have the cashflow to account for it. With an unsecured loan, businesses can easily take the stress out of dealing with the tax man.
So, whether it be for improving cashflow or providing working capital loans why not talk to one of our advisors to find out how we can help you access an unsecured loan for your business.