Business Loans
Business loans to help get your business off the ground, or ease up cash flow for a specific project.
- Compare lenders, rates and fees
- Dedicated finance specialist assigned to you
- Funding in as little as 24 hours
What are business loans?
Starting or running a business requires capital. Companies can borrow this from a bank, building society or online lender and – like with any loan – pay it back over time with added interest.
The amount of money you’ll need and how long you’ll take to pay it back will depend on your business’s circumstances. That’s why we offer tailored quotes and access to a range of lenders. We also assign you a dedicated finance specialist to help sift through your options.
Types of business loans
There are two types of business loans – secured and unsecured.
Unsecured business loan
Unsecured loans are offered without asking you to secure it against any of your business assets, goods or property – meaning no charges or debentures will be placed over the business or assets. However, a personal guarantee is often required.
Secured business loan
With secured loans, the lender takes security over an asset or property. If you default on the loan repayments the lender can recover costs through the asset or property. Secured loans often have lower interest rates and longer repayment terms.
Within these categories, there are multiple options for you to choose from, depending on the circumstances of your business, including:
At Rise Funding, we help you pick the right business loan, so you can concentrate on running your business to the best of your ability.
FAQs
The most frequently asked questions about business loans.
Getting a quote from us won’t impact your credit score.
Most lenders we work with only do soft credit searches, and although a small number may apply hard credit searches, we will help you navigate through this.
You’ll only need a full credit report once you proceed with a lender’s full application. We’ll reduce the number of credit searches you need by carefully determining your eligibility for each loan option.
Our initial application process takes just two minutes, and we’ll provide you with a range of options from different lenders. Lenders can give us an answer within 24 hours and sometimes can come back to us in two.
Then, depending on how quickly you can provide the required documentation and sign agreements, the funds could be in your account in a couple of days.
If you choose an unsecured personal loan you might need to give a personal guarantee, but we will help you navigate this during the application process.
As a general rule, the interest rate you’ll have to pay on your business loan will depend on the terms you agree to – such as how much you borrow and the length of the loan – and your business circumstances.
There are also many other factors which will contribute to the interest rate, such as the age of the business, industry, credit profile, turnover, affordability in banks, number of customers/transactions, and region. Whether you are a homeowner or not will also affect the interest rate.