As businesses continue to seek new ways in which to raise funds in this current turbulent market, we have seen a dramatic increase in the number of enquiries we receive for unsecured business loans. Many have recognised that such loans provide them with the freedom to invest in their future, without having to incur charges over their homes or other personal assets. This straightforward option enables companies with a minimum of 2-years trading history and filed/formal accounts to access funds that they otherwise may have struggled to secure.
Aside from the decreased risk, their popularity is also on the increase due to the reduced rates that were announced in September. With loans starting as low as 4.5%, it is easy to see why they would be so attractive.
In the past 2-months alone we have seen a rise in enquiries to assist with business growth and stocking finance in particular. We have been able to assist one company with the purchase of agricultural equipment involving both import and export activities, where equipment was purchased, upgraded and then sold on. We have helped another, a touring caravan dealership, to increase their stock levels and in turn increase their sales pipeline. Finally, we have supported a manufacturing company to purchase 3-years’ worth of a discontinued parts, allowing them to cover future expansion before sourcing a new solution.
Unsecured business loans really do bring broad business benefits, not only are you not restricted by the limitations applied by your business bank but this type of loan can be utilised for stock or equipment purchasing or even IT support. It is also a popular choice for assisting with expansion and funding cashflow needs.
If you are looking to invest in your business, either for ambitious growth plans or a new piece of equipment, an unsecured business loan could be the ideal solution. Feel free to give us a call on 01993 706403 and take advantage of these exceptionally low interest rates.