You might be faced with an unexpected bill. You might need to repair or replace a vital tool or vehicle. You might have an unexpected opportunity, such as a chance to acquire stock or an asset at a bargain price. Or you might simply have a cashflow problem that needs a solution without delay.
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Whatever the need, there are solutions that can bring you the funds, quickly. But although there are many providers of quick business loans, some may not offer the funds you need at a rate you will be happy to pay.
At Rangewell, we can help you find funding at competitive rates, even when time is tight.
Contact our team now to see if you're eligible for a quick loan
And the money could be in your account in as little as 24 hours
A business loan from a traditional bank could take weeks or even months to arrange. Fortunately, a new generation of lenders has emerged in recent years and taken a fresh look at the lending process.
Some will require a short meeting to discuss and understand your circumstances.
Others may be able to make a decision in principle based on a telephone interview, which may need to be supported by documents.
Some may offer funding online, but may require you to upload bank statements, VAT returns or company accounts.
These lenders may be able to make a funding decision without the complex paperwork, business forecasts and external reports that may have been required with a traditional business loan.
Some may even be able to have the cash you need transferring to your business account on the same business day that you apply.
What is a quick business loan?
An instant business loan is a small business loan that is given within the shortest time possible, with the approval procedure being a lenient one compared to other loan types. With Rangewell, you can be assured you'll be getting instant loan approval without having to go through the hassle. We deal with different kinds of business loans, such as loan financing.
To find out more about your monthly repayments, speak to Rangewell today.
How do quick business loans work?
It can typically take several days for loan applications with traditional banks and building societies to get approval, mainly where the credit record isn't great, or a secured loan where collateral needs to be valued.
The quick business loan is usually an online process that can take a few minutes or hours rather than days.
The application process is quick and easy. Select your loan with one of our potential lenders and follow the short application steps. The lender will then assess your application and will examine your finances by reviewing any financial document such as your annual turnover and profit and loss accounts, along with bank statements.
If the lender decides to offer you a loan, the interest rate and repayment period will be based on the risk associated with your business. For example, a poor credit rating or unstable financial accounts may mean that you present a high risk. If this is the case, you may expect to pay a higher interest rate and may be required to provide security.
Why do you need a quick business loan?
Instant loans are designed to offer short-term credit to get a business through an emergency or unexpected expense. An instant loan provides a valuable service to people who don't have an alternative, such as savings or business credit cards. Instant loans can also be ideal for people who cannot quickly access more affordable types of credit.
The ideal applicants for instant loans are those who cannot access more affordable credit. If they are paid in full and on time, instant loans can help build credit. If you don't pay in time, you could risk business defaults.
How flexible is a quick business loan?
Several lenders are able to approve credit facilities of up to £100,000 in a matter of minutes and allow repayment terms that can range from 1 to 60 months, allowing you to tailor the loan to your business needs and resources.
Some are able to offer a flexible approach to repayment, allowing you to repay early without penalty, reducing the overall costs of your loan.
To find out more about monthly payments you should expect to pay and loan interest rates, speak to Rangewell today!
Can I get a same-day business loan?
You can find out if you are eligible for an instant loan in as little as 2 minutes with our free online quote tool, and could have your funds sitting in your account today, or speak to our team to find out if you are eligible to get access to capital straight away.
Why arrange a quick business loan with Rangewell
There are many lenders who can offer Quick Business Loans, but some may only do so at high rates of interest, which can make borrowing uneconomic if you need a large sum for no more than a short period.
Getting the funding you need in hours instead of days or weeks can be essential for your business, but costs can tend to be higher than some other loans.
Lenders may charge an arrangement fee which will be added to the amount you borrow.
To get the finance you need at short notice without excessive cost, you need expert support. At Rangewell we can help you find a provider who can provide the funding you need to a timescale that fits your business at the most competitive rate.
When it comes to quick loans, you need a broker who will explain your options
Our service is independent, impartial and you will speak to a real person to find the finance that's right for you and your business
Find a lender to provide £5,000 next day for a company that had only been in business for three months
Source a £250 loan to replace a key tool with cash drawn down the same day
Set up funding for a business that was already in a Creditors Voluntary Agreement
Find a small company a loan at a rate 50% lower than its owner could source himself
Find a next-day loan of £2000 for a company in a turnaround
Discover our range of finances
Every type of finance for every type of business
Our goal is very simple - to help businesses find the right type of finance as quickly, transparently and painlessly as possible.
Helping you build your profits
Who can apply?
As long as you have a UK-based business and operate as a sole trader, partnership or limited company you can apply.
Easy online applications
Online applications can be handled quickly. Some lenders can get money into your business account on the same business day that you apply.
Funding for any purpose
A quick loan can let you invest in your business growth, or deal with a short-term cashflow shortfall. At Rangewell, we can help you find the right type of funding for your need.
Your repayments are fixed, so you can budget ahead - but many lenders accept early repayment, which can cut interest costs.
Start-up and established businesses
Some lenders will only lend to established businesses. Others will consider applications from start-ups. At Rangewell, we know which lenders you should apply to.
Finding the right quick loan
The cost of quick loans can vary. At Rangewell, we can help you find the most competitive lenders for your business and for your sector.
Download Rangewell’s free and detailed guide to Quick Loans
How do online Quick Loans work?
What are the options?
How can you apply online?
What are the costs?
What are the restrictions?
The downsides of Quick Loans
How to link documents to support your application
Key terms to check
Are unsecured business loans classed as Quick Loans?
Do lenders have to be authorised and regulated by the Financial Conduct Authority?
Can Quick Loans help with cash flow to provide a cash injection for small businesses?
What is a Personal Guarantee?
What forms of Alternative Finance, eg. Invoice Finance, Cash Advances, are classed as Quick Loans?
Can you get an agreement within 24 hours?
How does my business' credit score afect the interest rate I'm offered?
Does my business need to be registered in England and Wales to qualify?
Can short term business loans be repaid within 12 months?
How does a cahs advance differ from a business credit card?
How popular is business financing with UK business owners?
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Frequently asked questions
Have a question?
How can I get a business loan with no money?
It is unlikely that you'll be able to secure a traditional term loan unless you have money to use as a deposit, but you have other financing solutions available to you. Call 0203 936 2624 and an expert at Rangewell can talk through the different options.
How do I get an emergency business loan?
Speak to us today - call us on 0203 936 2624 - and answer a few questions. Then, we will be on hand to help you get the funds you need by approaching the widest range of lenders on your behalf and working with them to get the funds yu need as quickly as you need them
What credit score is needed for a small business loan?
While there is no industry-wide minimum in place, most lenders will want to lend businesses of 50+ at a bare minimum, with an ideal of 80+. We'd do a soft credit check when you apply so it won't affect your credit score.
Our service is:
Transparent and independent, treating all lenders equally, finding the best deals.
Every type of finance for every type of business from the entire market - over 300 lenders.
Specialist Finance Experts support you every step of the way.
We make no charge of any kind when we help you find the loan you need.