UNSECURED BUSINESS LOAN
This is the easiest way to claim loans for your business as you need not to offer a collateral or an asset as a security for your loan. We simply check your business consistency and legality to offer the finance.
This is mostly for the emerging startups where is is not much of wealth already acquired but on the contrary it needs a little funding to create the assets for the company. Unlike other loan options where you have to put a security against your loan (as in Secured Loan), under unsecured loans, you can claim upto GBP100,000 or more without as such property or assets or other collateral security and just on the basis of your Business Legality.
Another good part is that the process is not much lengthy and one could access quickly for short term and simply pay it back within an agreed timeframe and repay amount. The basic requirements for an Unsecured Business loan are:
Atleast 4 months of operations
Having a UK bank account
Minimum annual turnover of £10,000
Unsecured loan options for Limited Companies, LLP’s and sole traders