What Is A Business Loan?
A business loan is a lump sum of capital borrowed against your business trading performance and repaid in fixed monthly instalments over an agreed term. It is one of the most flexible and widely used forms of commercial finance in the UK.
How Much Can I Borrow?
Through our specialist broker network, businesses can typically access between £10,000 and £750,000 depending on turnover, profitability, trading history and the purpose of the loan.
What Are The Interest Rates?
Rates start from 6.9% per annum. The rate you receive will depend on your business profile, loan amount, term length and the lender chosen by your broker.
How Quickly Can I Get Funds?
Once approved by a lender, funds are typically transferred within 2–4 working days. Your broker will manage the process and keep you updated at every stage.
What Can A Business Loan Be Used For?
- Working capital and cash flow support
- Hiring staff or expanding your team
- Stock purchasing or inventory management
- Refurbishment or premises improvements
- Marketing campaigns or business development
- Acquiring another business
Is A Credit Check Required?
FundIQ does not run a credit check during your initial assessment. A broker may conduct a soft or full credit check as part of a formal application — this will be explained to you before it happens.