- Business trading 2 years or more
- Annual Turnover of £150k or more
- Owner/Director must be homeowner
- Borrow from £25k – £500k
Standard Info required:
- Completed online application form
- Last 3 months business bank statements
- A full set of most recent year end accounts
Most business loans require the business to offer something as ‘security’ on the loan. This is usually a key business asset which also holds significant value.
The idea is a simple one – if you fail to keep up repayments on the loan, the provider can claim their security. Because it’s usually an important asset, this motivates the business to keep to the payment schedule. If they fail, the asset is also valuable and so the loan provider can recoup some of their losses.
However, we recognise that some businesses are uncomfortable taking the risk of losing any asset with enough value to work as security.
Unsecured Business Loans
Unsecured business loans allow your business to continue to operate without the risk of losing key assets – and especially for smaller amounts, that can be preferable.
Traditional finance providers are less likely to offer favourable terms on unsecured business loans. Some high street banks refuse to offer them at all.
Century Business Finance have a different viewpoint. We believe in the experience of our team in working with companies in different industries. That allows us to make clearer judgements about risk and to award loans accordingly.
We believe in honest dealing and we encourage faster repayment where you can. If you repay your loan ahead of time, you’ll pay less interest and will suffer no early repayment penalties or surprise fees. This means better terms for you and less risk for us.