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Secured business loans can help you extract value from a commercial property that you own or operate in and you can borrow anywhere from £1,000 to £10 million to help grow your business.
At Proper Finance, we work with some of the best established secured business loan providers in the UK and we can offer you a free and no obligation indicative quote. From borrowing money against your offices, kitchen facilities or even hotel, there are no fees for applying, you can get a decision and be approved within a matter of days – and yes, we consider bad credit options too.
Click the “apply now” button below, and complete your online application in as little as 5 minutes.
A secured business loan allows small and medium sized businesses to receive a cash loan by using assets owned by the business as security. The lender uses your business asset(s) as a form of guarantee and is often able to give better rates as a result.
Business assets such as property, land, vehicles, machinery or accounts receivable are secured against the amount lent. If the business is unable to pay the monthly repayments on the loan, the lender is able to sell the business assets to recoup the loan amount.
Secured business loans present less risk to the lender given they are secured by commercial assets This makes them a great option for businesses who require longer term financing options as businesses can borrow larger amounts for longer time frames at lower rate compared to unsecured options.
Your business owns the assets irrespective meaning leveraging these assets to secure cheaper financing rate can make real sense.
The loan can be used for any business purposes such as hiring staff, to improve tech or buying new machinery.
Proper Finance is a free comparison site that can help people find top secured business loans to meet their needs across the UK. We work with some of the best lenders throughout the UK, who are all regulated, meaning any loan you find through our site is safe and secure.
Working with over 100 fully FCA regulated and authorised lenders we are able to secure the best rates from award winning providers.
Our online application takes only a few minutes to complete, and once finished offers applicants an instant decision. No fees are incurred.
The eligibility criteria for a secured loan varies depending on the lending provider.
Common requirements include;
Secured business loans can be particularly useful to start-ups who have limited trading accounts.
However, some providers will require more stringent criteria such as 12 months of business accounts or £120,000 annual turnover.
Yes, you can get a secured business loan even if the business has a bad credit rating. In fact, secured business loans are popular with those who have a poor credit history. The business asset used to secure the loan is the main focus of the loan rather than a business’ credit history.
Given lenders use valuable assets to guarantee the loan, they often don’t engage in stringent credit checks during the application process. This makes it a viable option for business with bad credit history
Therefore, if you have an adverse credit rating you may still be eligible for this type of loan – provided you have a valuable asset to secure onto the loan.
It’s important to note that while you can get a secured business loan with bad credit, you must ensure that you can afford repayments on this loan, as failure to pay back this loan can lead to repossession of your valuable asset – which in many cases is the borrower’s home.
If you’re looking to grow your business there are many banks and non-traditional lenders who can offer you secured business loans. The process is both quick and straightforward.
Simply use proper finance’s free comparison site, find the best loan option for you and apply online. The application rarely takes more than 5 minutes. The secured business loan could then take around two to four week to approve. The loan is often funded within a matter of hours once approved.