Specialists In Arranging Flexible Business Loans for SMEs
Whether you would like to take advantage of a new opportunity, bridge a gap in cash flow or cover urgent costs, a business loan can offer a vital boost to your finances.
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We have access to lenders to suit almost any business for almost any purpose. We understand that time is of the essence, so have ensured the application process is fuss free.
Key Features:
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Borrow £5000 - £500,000
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0.9% - 3.9% per month
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Terms: 3 to 48 months
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Unsecured and Secured Options
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Generally, we work with lenders who can lend up to a max of two months of gross revenue. So, if your monthly revenue is £100,000, you could borrow up to £200,000 initially.
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The Following Topics Are Covered
What Are Business Loans ?
How Do Business Loans Work?
Do I Qualify For A Business Loan
What Types Of Business Loans Are Available in The UK?
Are There Alternatives To Business Loans?
What Are The Advantages of Getting A Business Loan?
What Are The Disadvantages Of Business Funding?
What Are The Common Uses For Business Loans?
How Much Can I Borrow with A Business Loan?
How Long Can I Borrow For?
How Much Does A Business Loan Cost?
Why Choose Accelerated Finance To Arrange a Business Loan?
What Are Business Loans?
Business loans can be used for a variety of purposes, from financing new equipment and refurbishments to covering cash flow gaps and unexpected bills.
There are many different types of business lenders, varying from traditional banks to online providers, each with different loan structures, amounts, repayments, interest rates, and application processes.
At Accelerated Finance, we take the time to listen to your needs and offer a tailored solution to suit your business.
How Do Business Loans Work?
Similar to a business loan typically involves borrowing a sum of money from a lender upfront. The key difference is that the money is borrowed on behalf of a business, although you may be personally liable.
You will then repay the loan amount, including any interest, over an agreed length of time. Timeframes can range from a few months to several years.
Do I Qualify For A Business Loan?
It can be tough to meet the strict loan criteria of traditional lenders, particularly if you’ve not been trading for long or got a perfect credit history. Below is some general criteria to get started
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Whatever your size or industry, your business can apply if you’re a limited company or limited liability partnership, or a non-limited partnership with at least four partners.
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You're UK-based with at least one director living in the UK.
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You've been trading for at least six months.
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You have a minimum monthly turnover of £5,000.
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Options for sole traders and non-limited partnerships with less than four partners who require more than £25,000.
What Type Of Business Loans Are Available In The Uk?
Most business loans can be broadly classified as either secured or unsecured.
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A secured loan is one that's backed by an asset, such as property, equipment, or inventory. This type of loan usually comes with lower interest rates because the lender's risk is reduced.
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An unsecured loan doesn't require any collateral and may be a good option if you don't have any major assets. However, you may have to pay a higher interest rate because the lender's risk is higher.
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The best type of loan for your business will depend on factors such as how much you want to borrow, your asset base, and your personal preference.
Are There Alternatives To Business Loans?
There is no one-size-fits-all answer when it comes to funding a business. Your suitability for a particular type of funding could be impacted by factors including your industry, company size, location, and trading length.
Thankfully, there are many options available in the UK.
These include:
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Government support including grants and R&D tax relief
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Equity funding such as angel investment
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Venture capitalism
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Crowdfunding or peer-to-peer lending
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Specialist business loans including options for construction, retail, e-commerce, and manufacturing
What Are The Advantages Of Getting A Business Loan?
Did you know? Around 45% of UK SMEs have leveraged external finance to help their business thrive.
If you're thinking of joining them, business loans can offer great benefits, including the ability to fuel growth, boost cash flow, provide a fast solution, and be tailored to your specific needs.
With an increasing number of funding options available to UK SMEs, you can choose from 100s of different secured and unsecured options
What Are The Disadvantages of Business Loan
Before applying for any kind of finance, it is important to do your research.
A couple of points to consider with business loans are:
1. The cost of borrowing: You will need to budget for repayments, interest, and any additional fees. Some lenders charge for arranging the loan, as well as early repayment fees if you settle ahead of time.
2. The application process: Getting a business loan with traditional providers can involve complicated application processes and lengthy wait times.
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We work with specialist business finance lenders who can give a decision within 24 hours
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What Are The Common Uses For Business Loans?
Customers use our business loans to fund long-term and short-term projects, including:
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Refurbishing or extending business premises, such as hotels and restaurants
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Buying new equipment, such as vehicles, technology, or software programs
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Hiring staff to meet increased demands
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Creating new opportunities for buying stock to fulfill large orders, and diversify products.
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Mitigating the risk of urgent or unexpected costs, like tax or repair bills
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Bridging gaps in lengthy payment terms
How Much Can I Borrow with A Business Loan?
The amount of money you can borrow from a lender varies.
Accelerated Finance specializes in SME business loans between £5,000 and £500,000, depending on your monthly revenue.
Generally, we work with lenders who can lend up to a max of two months of gross revenue. So, if your monthly revenue is £100,000, you could borrow up to £200,000 initially.
After you successfully make a few repayments, you can apply to borrow more money, as many of our customers do.
How Long Can I Borrow For?
If you have been trading for longer than 12 months, generally terms are sent to repay the loan over 3 to 36 months on an unsecured basis, or 3 to 48 months on a secured basis.
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Once you have more successful trading time under your belt of more than 6 months, the flexibility of our products means you could refinance for longer terms.
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We can arrange terms on a bespoke basis. Let us know what monthly payments you're comfortable with and we can work on this basis.
How Much Do Business Loans Cost?
We have access to lenders who offer business loans with interest rates as low as 0.9% per month.
We also work with lenders who do not charge early repayment fees, so you could pay less interest overall by repaying ahead of schedule.
Why Choose Accelerated Finance To Arrange A Business Loan?
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Boost your success rate:
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At 80%, our acceptance rate is something we're proud of.
This is because we only progress with a finance application when we know it won't negatively impact your financial footprint. Our expertise allows us to make this assessment and act accordingly.
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Save Time and Hassle
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We make getting a loan easy. Just call us or schedule a call, and our brokers will take care of the rest. They'll guide you through the application process and save you time and hassle. We have an Accelerated service of receiving finance within 2 to 7 days
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Save you money
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After significant experience in the finance world, we've built up an extensive list of specialist lenders who reserve some of the best lending rates and deals on the market for our clients—saving you anywhere between 30% and 50% interest - all without charging you a penny in brokering fees.
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