Business Loans UK
Business Loans: How to Get a Business Loan
Many businesses are reliant on business loans when they have an idea or concept that will help improve and develop their business. If you’re looking for a business loan, then look no further, we can help you.
In most cases, business loans are sought so that the business can pay for equipment, vehicles, machinery, materials, stock and a whole host of other items that they simply wouldn’t otherwise be able to do. Whatever you need the money for, we provide quick, easy access to business finance and funding.
‘Business loans’ is a fairly broad term and covers a range of ways your business can secure the funding it needs.
The experts at Hamilton Wood & Company will help your business get the money you need at the most affordable business rate we can. We exist to help UK businesses and the UK economy thrive. The country wins when you do.
Business Loan Definition
“A business loan is a loan purely designed for business purposes. Businesses benefiting from a loan pay interest on the sum borrowed and this is repaid over an agreed term.” Source: Kelly Hamilton – Hamilton Wood & Company
How Does a Business Loan Work?
All loans are subject to status. If you have a good track-record of paying loans back, then you will benefit from being able to secure loans with a lower interest rate.
If on the other hand, you have a poor credit history this doesn’t mean you can’t get a loan, it just means that your available interest rates might be slightly higher.
Having said that, when a business secures a new business loan they can improve their credit rating by sticking to the repayments and making the repayments on time.
Responsible lenders can quickly improve their credit score and this makes it more likely that you will be able to get loans at even better rates in the future.
This means that you can borrow more money for less.
What is a secured loan?
A secured loan is a loan that is guaranteed by your company or personal assets that are provided as insurance should you be unable to repay a loan. If you are unable to pay, the assets you offered will be collected instead of physical money.
What is an unsecured loan?
An unsecured loan is a loan that is given on the goodwill that the loan will be repaid. This means the loan therefor doesn’t require you to offer any of your company assets as insurance against a potential default.
Thankfully, Hamilton Wood & Company provide access to a broad range of business funding and finance options and we are always happy to help find you the funding you need at the best possible rate depending on your circumstances.
Business loans can be used for all manner of business needs. A lot of individuals are looking for start-up business loans to get their idea off the floor. No matter what type of loan you are looking for, our specialists can help you. We provide bad credit loans, start up loans, cheap business loans and more.
Business Loan Rates UK
Business loan interest rates can be effected by many things.
The rate of inflation always directly effects the cost of borrowing money as does your previous credit history, the amount you need to borrow, and the length of time the loan is in place for.
Whatever the type of loan you are looking for we can help you.
We can provide loans with excellent rates based on your current circumstances.
How to Get a Business Loan
CALL: 0161 791 1401
With Hamilton Wood & Company, we make the process of securing the business finance and funding you need quick and easy.
Our specialists are happy to discuss the amount you are looking for over a quick call, and then we will work on your behalf to get you the best deal we can subject to status.
We will work with you to get you’re the funding you need, but even better, we can help you recover up to a third off your loan back providing the project the loan is used on meets certain qualifying criteria.
We are more than just a loans company, we exist to help your business succeed.
If you have invested in other company projects using any technologies and working on unknown outcomes, you could be owed a substantial amount of money from central government.