Start up business loans

You can have multiple unsecured loans, but lenders will consider any existing financial commitments as part of their affordability checks.

Startups can struggle to secure unsecured loans unless they have personal assets, experience and strong personal credit to back the application. There may be alternative options which are more suitable for start ups, including personal start up loans or asset finance.

No, but it does open up options.

In many cases, yes. However, some lenders offer unsecured loans with a Debenture or limited Personal Guarantee instead. You may also be eligible for Personal Guarantee Insurance – please discuss this with us during your consultation.

Interest rates depend on the lender, loan amount, and your business’s financial health. Since lenders calculate interest in different ways, make sure you're comparing rates on a like-for-like basis.

There are some lenders in the market who can provide a funding decision in as little as 24 hours. If speed is your biggest priority, then you would need to apply with a lender that has this capability. Some of the quicker funding options in the market often come at a higher cost. Timeframes depend on the lender and application requirements for each business.

Although it is more challenging to obtain finance with adverse credit, it is possible. It all depends on the exact nature of your adverse credit (when, who, how much and why?). Please call us to discuss.

Unsecured Business Loans typically start at £10,000 and go up to £2m, sometimes more for the right business. Every lender has their own criteria so eligible amounts will depend on business affordability and other factors such as trading time and Director strength. Our team works closely with businesses to determine loan amounts and repayments based on their individual circumstances.

Yes, unsecured business loans are available to Sole Traders, Partnerships, LLPs and Ltd Companies. Sole Traders and Partnerships are more limited on options.