Unlocking Growth: Explore Unsecured Loans for your Business

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Unlocking Growth: Explore Unsecured Loans for your Business

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Unsecured Business Loans – specialist finance 

There can be many reasons why a business may need a cash injection. Often a solution to this requirement can be an unsecured business loan. 

Can an unsecured business loan be used for any purpose?

As a specialist finance broker, we’re able to arrange unsecured loans for businesses in super quick time! As we are independent, this means we have access to a wide panel of loan providers that can cater for your needs. This can be for almost any legal purpose, eg: 

  • Tax loans
  • VAT loans
  • Aged debt funding
  • Accountancy book purchase
  • Equipment finance
  • Business acquisition
  • Refurbishment costs
  • Business loan 
  • Personal loans
  • Consolidation loans
  • Cash flow gaps
 

Unsecured loans for the professional sector

An unsecured business loan can typically be arranged or almost any line of business – both sole-trader and limited company. But there are some lenders that specialise in helping to support businesses in the professional sectors, such as:  

  • Dentists
  • Law firms 
  • Accountancy firms
  • Veterinary 
  • Pharmacy
  • Doctors
  • Care homes
  • Chiropractors
  • Civil Engineers
  • Surveyors
  • Architects
 

These types of unsecured business loans can be both regulated or unregulated, depending on the company structure. They can also be used for business or personal use. 

How long is the term of an unsecured loan for a business? 

When a business takes out an unsecured loan, the term can typically range between three months to five years. However, it is possible to take the term so seven years in some scenarios. 

Can I take out an unsecured loan when starting a new business? 

Most lenders will require you to have 12 months trading before you can be approved for an unsecured business loan. However, if you already have a business that has been trading for more than 12 months, you may be able to apply for a loan through that business. 

What documents do I need when applying for an unsecured business loan? 

When applying for an unsecured loan through a business each lender will have differing requirements in terms of what they need. Some will be more in depth than others. At one end of the scale a lender may require the last 3 years business accounts. However, we work with a lender that can approve unsecured business loans just from the last 6 months bank statements. 

Is there any security taken with these types of business loans? 

With most unsecured business loans, there is no requirement of a charge against against a property. However, the lender will typically require the borrower to sign a personal guarantee. A personal guarantee is a commitment to repay a loan if the business defaults. You may often here a personal guarantee referred to as a ‘PG’.

Competitive rates

Being independent means we have access to many lenders and can find competitive rates

Specialist finance

Complex situation can often require a specialist finance provider

Fast
decisions

Need cash fast? Unsecured loans can typically be agreed and drawn down very quicky

Tailored solutions

Every situation is different. That's where we are often able to negotiate tailored solutions to your situation

Short & long term options

The term of an unsecured business loan is typically between 3 months to 5 years

Supporting UK Businesses

As a member of the NACFB – National Association of Commercial Finance Brokers, Fifty Nine Financial is able to fully support our clients with a wide range of commercial finance solutions.

Unlocking Growth: Explore Unsecured Loans for your Business

The Right Solution

Whatever your requirements, we will always strive to find the right solution for you and your business quickly. If you’d like to discuss an unsecured business loan in more detail Get In Touch!

Why Fifty Nine Financial?