Both secured and unsecured loans are common in the world of business. They’re taken out by businesses of all sizes for a variety of purposes, from paying operational expenses to financing new locations, product development, advertising campaigns and more.
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A revolving credit facility, also known as a revolving line of credit, is a line of credit between a bank or other financial institution and a business.
A business overdraft is a form of credit provided by a bank when a business’s account runs out of funds.
Current data, analysed by 365 Business Finance, shows that barbers, beauty salons, vape stores, cafes and tearooms, along with restaurants and bars have been the fastest growing retail sectors in the UK over the past three years.