Unsecured Business Loans: The simple way to borrow
Funding that can be fast to arrange and affordableSpeak to one of our experts020 3318 2613
- 1 to 60 months
- Borrow up to £250,000
- No security required
- Straightforward monthly repayments
- Fixed repayments
- Rates from 4.9%
- Simple directors guarantee
- Funding can be available in 5 – 7 business days
- Funds for any legal purpose
- Flexible solutions
- Terms to suit your needs
- Early repayments without penalty
Talk to Rangewell – the business finance experts
There are many lenders who can offer unsecured loans - but the rates and terms can very greatly. We search the entire market to find lenders who can deliver the most competitive unsecured business funding for your business.
At Rangewell we recognise your professional status, and we work harder to find you better solutions - which can include 100% finance for many of your needs.
Unsecured Loans provide a simple way for your business to borrow smaller sums, from as little as a few thousand pounds up to £250,000, and in some circumstances even more.
Like other types of lending, Unsecured Business Loans provide a cash lump sum, which you agree to pay back with interest, usually with fixed monthly repayments.
They are simple to arrange and work much like a personal loan. The lender will make the decision whether or not to lend based on a number of factors, including the credit rating of your business.
They differ from Secured Finance in that nothing is required as collateral or security. This means if something goes wrong, and you’re unable to keep up repayments on your loan, the lender is not able to seize any of your assets.
However, the lender will expect a personal guarantee from you and your partners and co-directors, which will mean that you would be required to make the repayments if your business could not.
Unsecured Loans can be arranged over a period of time to suit you, often from 1 - 60 months. Interest rates may vary according to the length of your loan, and with some lenders, you may be able to repay early, reducing the amount you pay overall.
The disadvantage of Unsecured Loans
Unsecured Loans mean more risk for lenders. Because of this they usually have a higher interest rate than Secured business loans, which means your business will pay more over the life of the loan than it might have done for a Secured Loan.
Getting unbiased, expert advice can help you ensure that an Unsecured Loan really is best for your needs.
Applications can be straightforward, and many lenders now prefer to keep paperwork to a minimum.
Unlike Secured Loans, there is no need for valuations and inspections, although lenders will need to look at your business to ensure that they will be repaid.
Traditional lenders may still wish to see paper documents, such as accounts, to help prove that your business can afford to make repayments, but online loan providers may take a different approach. Some are able to make lending decisions based purely on your publicly available online information.
For larger sums, some lenders may ask you to upload documents directly to a secure area of their website.
Why you need Rangewell to arrange an Unsecured Loan
There are many Unsecured loan providers, ranging from high street banks and the new generation of challenger banks to specialist, niche and p2p providers. Their rates and terms can vary substantially, and some providers may only be able to offer their most competitive rates for loans of particular sizes and lengths of time.
Some lenders tend to specialise in certain business sectors, where they have more experience of the risks and opportunities involved.
Finding the right lender is essential to minimise the cost of your borrowing.
At Rangewell we work with you to understand your borrowing needs, and then use our knowledge of the entire UK market to find the lenders who can offer the most competitive deal.
We are unbiased, and because we look at all types of lending, we’ll be able to see if an Unsecured Loan really is the solution for your needs – or whether some other kind of borrowing could cost you less.
Why you should call us to arrange your business loan
Remember, if you are unsure about what kind of borrowing you need our team of business finance experts are ready to provide help and support.
Our service is unique because we cover the entire UK lending market, and put the skills and knowledge of our experts to work for you.
So coming to Rangewell means an expert who can work with you, find answers to fit your turnover and other obligations, and help you with your application, as well as finding the most suitable lenders.
Our service is personal – when you call us, we can explain the options – and find you the small business loans you need.
REAL EXAMPLES OF WHAT WE CAN DO
Find an unsecured £50,000 for a company that had only been in business for under a year
Source a £25,000 loan to upgrade a production line
Set up funding for a business in a Creditors Voluntary Agreement
Find a loan at a rate 25% lower than the borrower had previously been offered
Find an unsecured loan of £200,000 for a company in a turnaround
What people say about Unsecured Loans...
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
Simple to applyMany lenders now accept online applications. Some may want to see your online accounts and VAT returns, but some will need no paperwork for smaller sums.
Fast decisions and rapid fundingThe new generation of lenders can often provide cash in your business account on the same day that you apply.
Borrow for any purposeYou can borrow to invest in your business growth, or to deal with a short-term cashflow shortfall. At Rangewell we can help you find the right type of funding for your need.
Fixed repaymentsYour repayments can be fixed for the life of the loan, making it easy for you to budget ahead. Some lenders allow early repayment without penalties.
Finding a specialist lenderSome lenders focus on particular business sectors. At Rangewell, we can help you find the lenders who will understand your business, saving you time and reducing your costs.
Getting the most competitive rateThe interest rates and other costs charged by unsecured lenders can vary. At Rangewell, we can help you find the most competitive lender for the loan you want.
Download Rangewell’s free and detailed guide to Unsecured Loans
How does an unsecured business loan work?
What is the difference between unsecured loans and secured loans?
Do I need to offer a Personal Guarantee?
Is my business eligible for business finance?
Are unsecured loans classed as short term solutions?
Can an unsecured business loan help with cash flow?
What common terms and conditions apply to small businesses?
What is a typical interest rate?
Will lenders look at my credit history?
What if I have a poor credit history?
Can I get an unsecured loan if I have a bad credit rating/credit score?
Are unsecured loans offered subject to status?
What if my business is not registered in England or Wales?
What else is available to business owners?
Can I apply if my registered office is outside of the UK?
Do I have to use a credit broker and if they receive a commission, does it cost me more?
What is a representative example of rates for business loans/to borrow money?
Can I not offer any asset with an unsecured loan?
Is the application process for a business loan similar to that of a personal loan?
What does it mean to be Authorised and Regulated by the Financial Conduct Authority?
What is the standard procedure to repay the loan?
Is this type of cash advance only for limited companies?
Will the interest rate be lower than a business credit card?
What is the most common funding option used by uk businesses?
Do business assets play any role in unsecured loans?
Are there any early repayment fees?
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Unsecured Business Loans may be harder to qualify for than a Secured Loan. If your business has a poor or non-existent credit history, the lender may not approve your application.
Your personal, as well as your business credit rating may be affected if you don’t keep up repayments on an Unsecured Business Loan.
Lenders will price loans based on the risk they believe they are exposed to. As lenders face a greater potential risk with Unsecured lending, interest rates may be higher, increasing your costs.