Move your business forward with a business loan.
Helping you unlock growth and opportunity within your business.
Searching for a business loan and not sure where to start? We’ve got you covered?
Whether you’re wanting a small unsecured business loan or larger amount secured against an asset, we can help. As independent commercial finance brokers, we’ve got extensive knowledge of the market as well as strong relationships with non-mainstream lenders, meaning we can find an affordable business loan to match most circumstances.
A business loan might be suitable if you’re:
Expanding an existing business
Wanting to enhance cash flow
Purchasing new resources such as equipment
Hiring new personnel
Launching new products or services
Needing support during unexpected financial challenges
The truth is, a business loan can be put to any reasonable business use, and can be accessed by any viable business - including start-ups and large corporations.
Business loans come in all shapes and sizes
Business loans aren't one size fits all. They often range from small loans of £5,000 or less which are often unsecured, right through to multi-million-pound loan facilities that need to be secured against assets in quite complex ways. But, despite being so varied, business loans share some common features.
Set repayment periods
Fixed interest rates
Longer application process
Stricter lending criteria
Personal and business credit history assessed
Benefits of Business Loans.
Funding: Grow and develop your business with finance you can control
Flexibility: Find the solution that works for you and your business
Ownership: Keep ownership and control of your business by securing a loan rather than seeking investment
Improved credit rating: Improve your credit rating for future borrowing by paying back a business loan within the agreed terms
Cash flow Management: Maintain steady cash flow by using a loan to cover unexpected expenses or bridge gaps between revenue and expenses
Opportunity Seizing: Quickly capitalise on new opportunities, such as expanding into new markets or purchasing essential equipment
There are other alternatives to standard business loans.
A typical business loan might seem like the obvious choice for most scenarios, but thanks to a number of new products on the market, you could have other options.
Government Loan Schemes
A government-backed loan differs from a traditional business loan as the government reduces the lender’s risk by guaranteeing part of the loan. This may result in lower interest rates or better terms and is ideal for start-ups or businesses struggling to secure more traditional loans.
Start Up Loans
Start-up business loans are designed to provide funding for new businesses to help them get off the ground. These loans are typically offered by banks, lenders, and through government-backed schemes. Some schemes offer additional support such as mentoring, which can be a valuable addition for a new or young business.
Every business has a key moment, let us be yours.
The way an application is presented is critical to securing a business loan. At Key, we bring over 300 years of combined experience in assessing and professionally presenting funding applications, including preparing business plans and financial forecasts if needed. We ensure your application reaches the right decision-makers at the right lenders, leveraging both mainstream and non-mainstream options, including those supporting SMEs declined by banks.
Business Loan FAQs
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Yes, it is possible to get a business loan before your business starts trading. However, you will need a robust business plan that clearly demonstrates how you intend to repay the loan, along with projections for revenue and expenses. A start-up business loan may be the best option to secure funding without existing accounts.
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Yes, it is possible to get a business loan even with previous bad credit. However, your options may be more limited, and lenders are likely to impose stricter terms, such as higher business loan rates, lower loan amounts, or additional requirements, like providing collateral or a guarantor.
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What happens if your business fails, and you have an outstanding business loan depends on the terms of your loan and the relevant legal framework. It’s crucial to seek professional advice if your business is struggling to meet its financial obligations.
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No, business loans are funds that will be repaid and are not viewed as taxable income.
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The exact rate for a business loan will depend on a number of factors, such as the size of the loan and the current financial health of the business, but typical rates are currently between 6 and 15%.
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As an independent commercial finance broker, we can do it for you. We’ll pull together the best options for you and share these with you in an easy to understand way, so you’re fully aware of all your options.
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How quickly you can get a business loan depends on a number of factors, such as lender requirements, loan amounts, and the terms of the loan. Working with an experienced broker can make the whole process, from exploring the available options to securing the funds you need, much more streamlined and efficient, and can ensure your finance comes from a reputable lender.
Not Sure a Business Loan is Right For You?
A business loan isn’t always the only option. Depending on your circumstances, there might be an even better finance product on the market. Take a look at some of the other types of finance that may be available to you. If it’s business acquisition support you need, please reach out to a member of our specialist team here.