We will help you find the right type of loan for your business needs.
A working capital loan can be used for a variety of different purposes, it is a product designed for quick access to funds and flexibility to help bridge a cash flow gap. The most common purpose for this type of loan is to pay for short term investments into the business such as advertisement and staffing costs, it’s common for companies to also use this to pay HMRC debt. Some benefits of a working capital facility are:
Asset finance is a type of loan where a business can use this to purchase a new asset to spread the cost of the borrowing over a longer period of time. This is also a great way to release capital by refinancing existing assets the business owns. There are different types of asset finance, the most common being: Hire Purchase, Leasing and Asset Refinancing
Some benefits to asset finance are:
A secured loan is a loan which the lender uses collateral to secure the facility against, this is usually a residential or commercial property. By using property to leverage the loan against, it allows the business to borrow a higher amount at a lower interest rate as the lender deems this method of lending as lower risk. There are no limitations as to what you can use the funding for, you may want to obtain a mortgage to purchase another property, use a bridging facility to help with business cash flow, or anything else to support the company. Some benefits to having a secured loan are:
An unsecured business loan is a type of loan which is taken based on the business performance, without using personal or business assets. Loan amounts range from £1,000 – £250,000 and are repaid between 3 months and 5 years. There are no limitations as to what this loan can be used for and many lenders allow you to repay early to save on interest. Some benefits to using an unsecured business loan are:
An invoice finance facility is a type of loan where the lender uses a company’s unpaid invoices as security against the loan. This is most commonly used for businesses who invoice their customers and have to wait more than 30 days to get paid. An invoice finance facility can release up to 90% of the unpaid invoices on day 1, which gives the business instant access to cash flow without having to take on additional borrowing. There are confidential options so your customers do not have to know you’re using a facility. Some benefits to using an invoice finance facility are:
A merchant cash advance is a facility designed for companies who take payments via a card machine or an online terminal. The way the business repays the loan is with a small percentage of the card sales. This product is perfect for seasonal businesses, as there are no fixed repayments so when the business sales are lower, the repayments are lower and when business is up the repayments will be higher. There are no restrictions on loan purpose, but the most common uses for businesses are stock, advertisement and business expansions. Some benefits of having a merchant cash advance are:
We have three quick and easy steps to apply for a loan. No hassel and stress free. Our dedicated account managers will guide you through the process and be there for the duration of your application.
By completing our quick and easy application form, we check your eligibility against a full panel of lenders and products. An account manager will get in touch with you to discuss the next steps.
We present you with a comparison of what your business is eligible to apply for. Your dedicated account manager discusses these options with you and depending on your needs, we apply for the best products you qualify for.
Receive offers from reputable lenders. After accepting your finance offer, your account manager will guide you through the process to receive your funds. They will liaise with the lender directly, ensuring the final steps are seamless and quickly completed.
1Finance, and your account manager will provide you with an aftercare service once your loan has completed. Your dedicated account manager will stay in touch with you to help with any queries you may have for the duration of your business loan and to keep you updated with relevant news and other products you may become eligible for.
We understanding when taking a loan or financial help, this comes with questions. Below we aim to help with some of our most commonly asked questions. If you still need guidance or wish to speak to a member of the team, please get in touch with us via the application form or via telephone.
There are several types of loans you may be eligible for and it’s our job to compare all products for you. Check them out on this page above the FAQ to decide what would be best suited for your needs.
Absolutely not. We have a number of lenders who are able to lend, if you or your business does not own any property.
Simply click here to apply for a business loan. One of our finance experts will give you a call to discuss your requirements and inform you of the best products for your business. If speaking on the phone is not convenient at the moment, please fill out our application form now and we will let you know your options.
Applying for finance for your business can feel complicated and time consuming. 1Finance uses excellent market knowledge teamed with our in-house matching platform to make things easy for you. We believe that communication is key, that’s why we provide you with your own dedicated account manager who will guide you through the entire application process.
Simply complete our quick and easy application form and an account manager will phone you to discuss your options.
