Sometimes, it can feel like the less you want to borrow, the harder it can be.
Many lenders have minimum lending limits, often £50,000 or more, as they find it is unprofitable to lend any less. That doesn’t, however, help if you’re only looking for a few thousand pounds to meet an unexpected bill, boost stock or bridge a temporary gap in cash flow.
The good news is that our finance specialists have access to a reputable lender that specialises in small loans of up to £20,000.
The money can be in your account in as little as an hour and the repayments taken from a business debit card in daily, weekly or monthly instalments over 12 months.
The lender normally only asks to see the last three months’ bank statements to support its approval process. A charge over business assets and a director’s personal guarantee is required as security.
If you find yourself in need of a small loan, don’t despair at the lack of appetite you find in most quarters. Instead, contact us for a chat.