Secured Business Loan Uses
Secured business loans can be used for almost any business-related reason. From covering a funding gap to purchasing new equipment or even funding growth, there will be a secured business loan for you.
Terms And Criteria
Our secured business loans are available for any amount from £26,000 – with no maximum loan size.
Unlike unsecured loans, secured business loans can be taken for up to 25 years. This leads to far lower monthly payments, easing the burden on your business’ cash flow.
The interest rate charged on a secured business loan is usually much lower than a comparable unsecured loan, due to the reduced risk to the lender.
In addition to a legal charge against the security property, most lenders will usually still ask for a personal guarantee when taking out secured lending.
Where a building is not available as security for the loan, we have other lending options available and can consider any security, such as:
- Residential property
- Equipment and machinery