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Do not feel bound; we will not secure your assets!  Continue Reading to know how you can get an unsecured business loan!



Content:

  1. How it works

  2. Eligibility Criteria for Unsecured Business Loan

  3. Why should you choose 247 Business Finance?

  4. Steps to getting a small business loan without collateral

  5. What you need to do!

  6. Pros of Unsecured Business Loans

  7. Bottom Line

  8. FAQs

24/7 Business Finance facilitates all your problems and provides fast, easy, and reliable business finance solutions. Unsecured business loans are specifically designed to enable small businesses to run their business smoothly. So, to solve your business’s cash flow problems, click here to get a free quote.

HOW IT WORKS

We work at the ease of our clients

Unsecured company loans benefit small businesses or startups with no collateral to secure the loan. 24/7 Business Finance provides working capital to a firm, which it subsequently repays over a certain period. The interest rate in an unsecured business financing is typically fixed, and a fee for arranging the loan may be levied, which can be added to the loan. So, to get the unsecured loan, all you have to do is follow the three steps and receive your loan within the next 24 to 48 hours.

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Eligibility Criteria for Unsecured Business Loan

Getting an unsecured business loan is more accessible with 24/7 Business Finance. You must be trading for 3 months minimum and have a maximum turnover. To make it simple, please read below the eligibility criteria and Apply for an unsecured business loan now.

  • Your business is trading for 3 months minimum.
  • Your business should have a minimum £25k annual turnover.   
  • You must be an owner or partner of the company.
  • Your business must be based in the UK.

Why should you choose 247 Business Finance?

We at 24/7 Business Finance provide a quick and easy alternative for SMEs in need of money but without assets, i.e., known as an unsecured business loan. We don’t demand collateral, so you won’t have to put up anything to get the money. We have multiple lenders on board who are willing to support your business and offer this kind of loan for up to £250,000.

An unsecured business line of credit is very beneficial for small business to grow their business and attract customers using a handsome amount of money.  You should choose 24/7 business finance to get an unsecured business loan because of the following reasons:

  • We allow businesses to get access to funds quickly within the next 24 to 48 hours.
  • We provide fixed rates and make convenient financial plans for small businesses.
  • We don’t require maximum qualification requirements. Our process is simple and short. 
  • We process soft checking, which will not affect your credit score.
  • Our process is very transparent and clear, and there are no hidden fees. 

Steps to getting a small business loan without collateral

Getting a small business loan is easier with 24/7 business finance. You just need to apply for the loan through your bank statement and valid business credentials. We will then process your application within the next 2 hours and contact top lenders to get the most appropriate deals to tackle your business’s cash flow problems. After a day or two, you will be able to receive a loan for your business without a security deposit and hence can run your business smoothly without having anxiety about early repayment.


Apply Now -1

Apply

Apply for the Business Finance now and get a quote in less than 2 minutes.

Approve - 2

Approve

Get an instant financial plan and sign the credit application.

Receive - 3

Receive

Receive the money within next 24 – 48 hours.


What you need to do!

It is entirely up to you to choose if the unsecured business loans are appropriate for your SME or not. But with an experienced business broker i.e., 24/7 Business Finance to assist you in assessing your circumstances and completing the application procedure is vital. Discuss your business’s expenditures involved and verify that you’re seeking a substantial return from the money with our team and get the personalized financial plan.

Here, we suggest that never approach each lender one by one; this will harm your credit profile and lower your credit score. And if an unsecured business loan is not for you, an option such as working capital or cash advance may be a feasible alternative. Learn more about alternative financing here.

Pros of Unsecured Business Loans

 The unsecured business loan industry certainly has a knack for marketing and selling a great deal, but you need to be vigilant when it comes to the nitty-gritty.

Unsecured business loan lenders assess your cash flow and ability to meet repayments. Often this whole process can take less than 24 hours, meaning the cash will hit your account when you need it. The process is super straightforward – often all it takes is a quick call and a few minutes to upload necessary details. But it has many drawbacks as well. Let’s look into the pros and cons of unsecured business loans:

Pros

Unsecured loans can benefit borrowers in terms of risk and time. Unsecured business lending is indeed a safer way for borrowers to claim the loan. Advantages of unsecured business loans include:

●      Easy, convenient and less risky for the borrower

●      Suitable loan if you don’t have any real estate to pledge as security

●      the application process is quicker than for a secured loan (e.g., a credit card)

Bottom Line

If you have excellent credit and a consistent income, an unsecured loan can be the best option. You can acquire better lending rates and exceed tough qualification requirements with the help of 24/7 Business Finance.

In general, both secured and unsecured loans might be helpful depending on the circumstance. Keep in mind that the primary distinction is that secured loans require collateral, whilst unsecured loans do not. Secured loans reduce the lender’s risk and may let you set more favorable terms for repayment. Conversely, unsecured loans are riskier for the lender and may have tougher terms that attempt to reduce that risk.

Making wise financial decisions is crucial, including timely debt repayment and the upkeep of positive credit history. The secret to receiving the best terms on any loan is having high creditworthiness. Whatever your situation, figuring out which loan kind is appropriate for you will rely on your credit situation and your objectives. For that, you can simply contact us at [email protected] or drop your details here (link with contact us page) and get your business finance sorted.

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FAQs

  • What is an unsecured loan? 

Unsecured business loans are those that do not demand collateral. A secured loan employs assets as collateral, which means the lender can sell the assets to collect the loan’s cost if things don’t work out.

  • Is it hard to get an unsecured business loan?

It is easy to get an unsecured business loan with 24/7 Business Finance. Fill out the form here or contact us at [email protected] and get your fund released within 48 hours. Simple and Convenient! 

  • What do I need for an unsecured business loan?

To apply for an unsecured business loan, your business must be trading for three months, and your business should have a £25K annual turnover.

  • What is an unsecured business loan in the UK?

Unsecured Business Loans work the same in the United Kingdom as in different regions globally. For an unsecured business loan, you can access the loan without being secured against a company or personal assets. 

  • Is the business loan secured or unsecured? 

We offer both types of business loans, secured and unsecured. You don’t need to be secured against any of your assets for unsecured business loans, whereas secured business loans must secure any of your personal or business assets.


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