Business loans typically involve the advancing of a capital sum which will be paid into your bank account for you to then spend on the agreed purpose. Sometimes the money will be sent directly to the seller of whatever you are buying e.g. a car dealership for a car. The loan will then be repaid in full by regular instalments over the agreed term.
There are many different variations on this model though. Some loans will only require you to pay the interest with the lump sum being repayable at the end (often referred to as a bridging loan); other loans will require you to pay a reduced monthly repayment with part of the capital deferred until the end. This is often referred to as a bullet or balloon payment and is common in the car finance market.
Talk to us about the type and structure of loan that is most likely to work for you.