Term Loans

Term Loans are a loan that you have for a specific reason.  Whether it be to purchase something for the business, pay out a business partner, or upgrade a business.  It is a one-off injection of funds into the business that you pay back over 2-3 year term.  These loans can be unsecured or secured loan. 

Generally, a secured loan is cheaper but not always. 

Rates and terms will depend on the following: 

•Time in Business 

•Turnover 

•Type of industry 

•Credit Score 

FAQ'S

What term can I get a loan over?

What term can I get a loan over?

That depends on how long you are in business for.  Generally term loans range from 12 months to 3 years.

Can I pay out a loan early?

Can I pay out a loan early?

Yes you can repay early.  Most Lenders now offer early repayment with no penalties.

How do I repay this loan?

How do I repay this loan?

Repayments are via direct debit.  Usually repayments are monthly but some offer weekly repayments.

How quickly can I get funds?

How quickly can I get funds?

Usually funds can be settled within as little as 48 hours.

Do the funds just go into my bank account?

Do the funds just go into my bank account?

Yes funds are deposited into your business account.

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