Unsecured loans are now freely available to UK businesses at competitive rates compared to the traditional, secured lending products offered by high street banks. The days of businesses having to provide collateral to gain access to financing are over.
A business loan that requires no security from the applicant is a far more flexible and focused funding solution — it's also a fast way to generate funding to grow your business. Unsecured business loans and similar alternative lending products don’t usually feature upfront costs but the cost of the funding may in some circumstances be more expensive as the institution providing the finance is taking a without securing security. In these circumstances, the businesses trading history becomes very important as the funder will need to feel that the amount due to be paid back can be afforded by the business in need of the money.
Our merchant cash advances are entirely based on the debit and credit card transactions of your business. This fast finance alternative to the traditional bank loan is popular with businesses reluctant to be tied into secured loans with high interest rates and fixed terms, making it far more suited to the volatility experienced by small businesses.
There are now many lenders on the market offering unsecured financing products, and in some cases, such as a merchant cash advance, not only is no security required but these cash advances require a far less intrusive application process and the funds are usually with the business in a few days.
The amount of funding available through our merchant cash advance depends on the average monthly card takings of your business. Our unsecured business loans in the UK usually range from £5,000 up to £200,000.
365 Businesses Finance offers this type of funding to thousands of small businesses in the UK, with flexible terms, repayments, and no hidden charges or APR.
Through merchant cash advances, small businesses can now grow and consider scaling, improving cash flow and company expansion. Such flexible funding now rivals that of the mainstream lenders, as small businesses are provided with an alternative way to easily access funds.
The current economic climate has resulted in mainstream lenders making it difficult to acquire unsecured capital, especially if the business requiring the finance has a less than reputable credit history. It is in these circumstances a mainstream or high street lender would demand additional security, whereas a merchant cash advance would work exceptionally well as an alternative source of business funding.
Unsecured small business loans that are fast and flexible and require no guarantee, are now becoming the standard go-to solution for UK businesses looking to secure capital with flexible terms and repayments.
The service offered by merchant cash advance lenders now rivals that of the mainstream lenders, with businesses being provided with a senior funding specialist to look after the application and funding process.