With an unsecured business loan, your personal and business assets won't ever be at risk.
Our automated technology lets us get your business financed quicker than any other broker in the UK. Unsecured business loans get processed faster as valuations aren't required.
We supply unsecured business loans for any purpose to thousands of small businesses.
Apply for a quick decision unsecured business loan and borrow up to £250,000, and get funds in 24 hours.
Credit never impacted
Funds up to £250,000
Interest rates from 2.9%
Our online form only takes a few mins.
We'll give you a fair credit decision.
Sign the docs from any device.
Funds can be in your account same-day.
You can apply for a loan whatever time of day or night.
Complete our short online form - get your fair credit decision.
Flexible repayment terms up to 5 years. Never any hidden fees.
Unsecured business loans are a great way to get funding for your business without having to put up any collateral. This means that you won't have to worry about losing your home or personal belongings if you can't repay the loan. Unsecured business loans also tend to have lower interest rates than secured loans, so you'll save money on interest payments over the life of the loan. Unsecured business loans can be used for a variety of purposes, including start-up costs, working capital, and expansion. So if you're looking for a flexible and affordable way to finance your business, an unsecured business loan may be the right choice for you.
The lender may ask for your personal guarantee, which is a promise that you will repay the loan if the business is unable to. This type of loan is often used by small businesses that do not have the collateral to secure a loan. Unsecured small business loans can be more difficult to obtain than secured loans, but they can be a great option for businesses that do not have the assets to put up as collateral. If you are considering an unsecured business loan, be sure to understand the terms of the personal guarantee.
Does My Business Qualify for an Unsecured Business Loan?
To qualify for an unsecured business loan with Love Finance, you must be: trading for at least 3+ months minimum, a UK-based business,
At Love Finance, we are proud to offer unsecured business loans to a wide range of businesses. Whether you're a start-up or an established business, we may be able to help you secure the funding you need. So, what do you need to qualify for one of our unsecured business loans?
Your business must be based in the UK. We also require that you have been trading for at least 3 months and it helps if you have a good credit history. In addition, we will need to see proof of your income and expenditure. Once we have all of this information, we will be able to make a decision on your loan application.
Unsecured Loans Compared to Term Loans
An unsecured loan is not attached to any of your business assets, which means that you don't have to put up collateral in order to qualify. This can be a good option if you don't have any valuable assets or if you're not comfortable putting them at risk. A term loan is a type of loan that is repaid over a set period of time, usually between one and five years. The length of the loan term affects the amount of interest you'll pay over the life of the loan- the longer the term, the lower the monthly payments but the higher the total interest paid. Term loans can be either secured or unsecured, depending on the lender's requirements.
Already been been declined for a unsecured business loan?
There's no need to feel discouraged if you've been unsuccessful in applying for an unsecured business loan. At Love Finance we have options for small businesses that have not been approved previously. As we only perform soft searches early on, your credit score wont be impacted by applying for us so there is no risk in seeing how we could help.
A Good Candidate for an Unsecured Business Loan:
Trading 12+ months
Turns over £100,000+ yearly
Has clean credit & no CCJs
Owns a physical store or website
The above criteria are not an absolute necessity, we will always do our best to source you the funding you need for your business. But, by meeting these requirements, you are more likely to be approved for an unsecured business loan.
We're automated but it's always nice to know there's a real person behind the scenes to support you, so if you have any questions regarding unsecured business funding, or you're looking to enquire please don't hesitate to contact us.