Unsecured business loans are a quicker, more accessible form of business funding. They do not require assets as security so can be processed in less time than a secured business loan that requires a lengthy legal process and valuations. This makes them an attractive option for aspiring companies with limited assets but a need for quick access to finance. As a result, they are often used to fund business expansion and support cash flow.
Since there is no security, the lender might ask for a personal guarantee. This is a written promise from a Director or Shareholder that guarantees repayment if the business is unable to pay.
We have a variety of lenders in our network able to offer unsecured loans up to £1,000,000, creating an opportunity to secure some attractive offers.