A business loans ( sometimes referred to as a commercial loan) is like a personal loan for a business, it can be unsecured or secured depending on the businesses financial status.
Typical uses for a business loan include but are certainly not limited to:
- Financing additional staff
- Expansion
- Stock Purchasing
- Unexpected bills
- Maintaining Cashflow
If you are looking to purchase equipment to increase productivity please see our ASSET FINANCE page for more information on loans for buying business equipment.
Is There a Criteria For Obtaining a Business Loan ?
Usually most lenders will prefer to see at least 2 years accounts showing a profit. This is not set in stone but is likely to give you the best rates for any loan you wish to take out for your business.
