Running a business is a costly process. You may need equipment, to hire new staff, or to fund a new marketing campaign. However your company intends to succeed, a cash injection can really get the ball rolling. Here at All Star Funding Solutions, we can point you in the direction of the perfect Business Loan.
Business Loans from £500 to £5,000,000
What is a Business Loan?
A business loan is a financial product offered by banks and other lending institutions to companies for various purposes, such as starting or expanding operations, purchasing equipment or property, managing cash flow, or financing working capital. Business loans typically have a set repayment period and interest rate, and the borrower may be required to provide collateral to secure the loan. With a business loan you can rest assured that whatever your business dreams are, you can secure the cash to make them a reality.
Business Loans can be either Secured or Unsecured?.
- A secured business loan is a type of loan that requires the borrower to put up collateral, such as property or equipment, to secure the loan. This means that if the borrower fails to repay the loan, the lender can seize the collateral to recoup their losses. Secured business loans typically have lower interest rates and longer repayment terms compared to unsecured loans, but they also carry the risk of losing the collateral if the loan is not repaid.
- A unsecured business loan is a loan that is not backed by any collateral. Instead of collateral, the lender relies on the creditworthiness of the borrower and the financial stability of the business to repay the loan. This type of loan is considered riskier for the lender compared to a secured loan, so it typically comes with higher interest rates and shorter repayment terms. However, unsecured business loans offer the advantage of not having to put up any assets as collateral.
Start Up Loans
Start-up business loans can be provided by traditional banks, alternative lenders, or government organizations. The specific requirements for obtaining a startup loan vary, but typically include a well-written business plan, financial projections, and a demonstration of creditworthiness or collateral.
If your business has been trading less than 24 months we work alongside the Start Up Loan company to obtain Personal loans for business purposes. The Start Up loan company provides a loan of up to £25,000 per director over a maximum period of 60 months.
Over at All Star Funding we work with all our Start Up businesses to pull together the information required for the Start Up loan. As part of our FREE service we assess your application prior to submission to the lender so that you have the best chances of success.Click To Contact Us
Whether its a short term loan to get you started, or a longer term loan for a period of up to five years, a business loan can help you manage your finances, keep your business running smoothly, and fund your growth.
With a business loan you can rest assured that whatever your business dreams are, you can secure the cash to make them a reality.
Here at All Star Funding Solutions, we work alongside a wide range of financiers and lenders. As a result, we are in the best position to establish a great deal for you, the client. We can help find the perfect business loan, with a repayment option to suit you and your company. Contact us today to find out more.Click To Contact Us
As a FCA Authorised and Independent Commercial Finance brokerage we have access to the whole of the market. This enables us to assess your situation and assist in many different situations.
If your business requires funding then speak to one of our experts today. We can advise you of what is available on the market for your specific needs.
Call today to speak with a Business Loan advisor:
0161 8211478 – Manchester Office
0203 1431478 – London OfficeClick To Contact Us
Commercial Business Loans FAQs
There are no charges to yourself as our fees are covered by the lender who you choose to work with.
We specialise in sourcing loans from £500 to £5,000,000 with terms from 2 weeks to 5 years.
This is a difficult question to answer as the cost is specific to each lender, the amount borrowed and the type of security provided for the loan. Typically unsecured borrowings are more costly as the risk is higher to the lender.
We appreciate that banks will often provide the better rates for their customers, however, where there is lack of appetite to support a loan request we can usually source a provider to help. The average rate for a non-High Street bank financier is approx 1.5% per month on the amount borrowed.
This depends on you. We can source the lenders very quickly. The lenders may require information to be provided and this is where you come in. The quicker the information provided the quicker the set up process will be. An average loan is usually drawn down put in place within a week but could be quicker. We do work with one lender who can provide funding to your bank in less than 12 minutes from application.
We can arrange loans up to £50,000 where only a Personal Guarantee from the Directors is required. If the Loan is for a larger value than this then the lenders we work with will usually require tangible security to be provided in the form of a charge over property.
As these types of loans present more of a risk to the lenders we work with the criteria is as follows:
• Registered LTD or LLP
• Filed accounts
• Profitable business
• No significant CCJs within past 3 years
• Registered LTD, LLP or SPV
• Established business
• Experienced management team
• Good credit rating and security
Yes we do work with a number of lenders who allow early repayment without any penalties. In fact we often encourage spreading the term so that the monthly amount fee repayable is less and you clear the balance in full at the point you intended. We leave this with you to discuss with the individual lender.
No. We only source loans for established businesses only.
Unfortunately our panel of lenders can only deal with UK registered businesses.
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