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Business loan solutions in the UK - Growth funding made easy

Is running a business looking challenging due to lack of cash flow? You do not need to worry about it because you are at the right platform to find the right solution for you. It means we have exclusive deals on instant business loans at affordable rates.

For unsecured loans, interest rates usually range from 6% to 15% as no collateral is required. On the other hand, we offer secured business loans with low interest rates, ranging from 3% to 7%. However, these figures are for representative purposes only, not the final ones. Besides, we also offer flexible repayment on business loans, making it easier for everyone to repay the loan on time.

The start-ups or those looking to start need a sufficient funding backup to make their dream come true. They need a reliable lending platform from where they can fetch suitable loan deal. The small business loans and business equipment finance that we provide are the ideal solution for them.

How do business loans work in the UK?

We offer loans for business on an online platform where there is a minimum chance of errors and maximum loan approval.

These loans are beyond your past credit errors. We use a soft credit check, which means you're the only one who knows your credit score, and it doesn't affect it significantly. Instead, the approval belongs to your recent financial performance. It means start-up owners with past credit issues can also apply for our fast business loans with poor credit in the UK.

In the loan process, some obligations are there with extreme significance. Providing the collateral is indeed one of them, but you often have an asset to pledge the borrowed amount. Therefore, you look for an unsecured funding option.

We provide you with a reliable online lending platform where you can pre-qualify for unsecured business start-up loans based on your monthly income and affordability. There is absolutely no need of putting an asset. Instead, you get the loan approval on your earning basis.

We analyse your repayment capacity, and then only we work upon the final interest rates and repayment schedules.

At Figuralloans, we have ready our business loan manageable with calculator and reasonable in rates for all types of businesses in the UK whether they are the start-ups or the established ones.

Avail our loan offers to:

  • Boost your working capital

  • Buying new equipments

  • Locating more branches in other cities

  • Funding your future growth plans
  • Paying the marketing specialist for a particular project
business loans

What are the forms of business loans?

When it comes to business funding, you have plenty of options to make use of them. As the responsible direct lender in the UK, we provide you with a variety of business loans, including:-

  • Instant business loans:

    Have you trapped in a financial emergency? Do you need quick funding access? Our instant business loans do this for you without indulging into too much paperwork. Apply online and get the same day loan approval.

    • Borrowing Amount: £5000 - £10000
    • Loan Term: 6 Months - 12 Months

  • New business loans:

    Are you new in the business competition? Do not worry about the funding because we have personalised offers on new business loans, which we also provide as self-employed loans.

    • Borrowing Amount: £5000 - £20000
    • Loan Term: 6 Months - 36 Months

  • Start-up business loans:

    We have exclusive loan offers for all the start-up businesses in the UK. The terms and conditions for the loans are decided according to the current financial scenario and affordability to repay.

    • Borrowing Amount: £5000 - £25000.
    • Loan Term: 6 Months - 48 Months

  • Short-term business loans

    Fresh short-term business loans in the UK are waiting for you. Your company may belong to a small enterprise, but you have every chance of growing further by using the funding we offer.

    • Borrowing Amount: £10000 - £50000
    • Loan Term: 12 Months - 60 Months

  • Start-up business loans for bad credit

    Unlike other private lenders in the UK, we are flexible to those businesses with low credit ratings. We have specialised deals on the bad credit startup business loans available on the soft credit check and borrowers’ affordability. Interest rates may be on the higher side. Therefore, you should compare deals by using a business loan calculator.

    • Borrowing Amount: £5000 - £15000
    • Loan Term: 6 Months - 24 Months

Are both secured and unsecured business loans available?

Figuralloans responsibly offers both unsecured and secured business loans in the UK. However, the application procedure will remain the same, i.e. online with not much paperwork to follow.


Secured Business Loans ( These loans are for the longer-term with the availability of larger funding )

  • Borrow up to £50000 with an asset to pledge
  • Get the lower interest rates suitable to everyone
  • Available to bad credit people with soft credit check

Unsecured Business Loans ( These are comparatively smaller loans available for emergency or small funding )

  • Borrow up to £25000 with no security to offer
  • Higher interest rates but available on borrowers’ affordability
  • Available to bad credit or very poor credit people with soft credit check

An Important Note: All the secured and collateral-free business loans deals are subject to affordability. As a responsible direct lender, we follow the mandatory credit score check policy to provide the deals on the borrowers’ repayment capacity.


What are the benefits of business start-up loans?

Running a business requires not only the skills and better communication but also sufficient funding backup. Moreover, business funding does include borrowing options too. Fortunately, many good deals on business term loans are available where the guaranteed support is for the new or start-up business owners

Here are some benefits of small business loans for the start-ups in the UK:

  • A Part of Your Business Plans

    Indeed, with easy online access, these borrowing options have become part of your business plan. Whenever you need funding irrespective of short term or longer-term, you can opt for these loans and fulfil the business goal. You get the repayment flexibility according to the type of loan. For example, short-term loans will be for a smaller loan tenure, up to 60 months, while long-term business loans will be available for a maximum of 10 years.

  • Available for Women Entrepreneurs

    At Figuralloans, we are always ahead in giving adequate funding support to the UK's women entrepreneurs. We have impressive deals for them in both the secured and unsecured categories. Eligibility criteria are also typical, where the women business aspirants should be above 21 years of age and holding permanent UK residency. Apart from that, a good credit score, an active bank account, and a comprehensive business plan are also necessary.

  • Same Day Approval and Fund Disbursal

    You submit your loan application now, and you get the approval within an hour. Our representatives quickly respond to your loan query. If everything goes okay, then there will be a delay in the fund transfer to your bank account. Affordability is key to us, as evidenced by the amount you can obtain at comparatively lower interest rates.

  • More effective borrowing option than a credit card

    Excessive use of a business credit card can put you in more debts. Moreover, if you miss the payment or default, it will badly impact your credit score. Therefore, applying for a business loan at Figuralloans is indeed much safer option to seek business growth. It provides you with security through a transparent fee structure and no hidden costs.

  • Long-term growth impact

    By availing a loan with us, you can fulfil many of your business needs, which will have a long-lasting impact. For example, with the borrowed funds, you can look for a significant expansion of your business in the UK, funding the new hiring, purchasing equipment, and targeting new growth markets.

benefits of business start-up loans

What are the risks of business loans in the UK?

Undoubtedly, business loans can be an effective tool for your growth. Still, they are not untouched by any risks. Here is a comprehensive explanation of the potential risks associated with business loans that you should be aware of.

Risk Type Explanation
Possible downfall of the relationship with the guarantor or asset loss If you have applied for a guarantor business loan, missing or defaulting on the loan can hurt your personal liabilities with your guarantor. Similarly, you may lose your asset in the same situation.
Burden on regular cash flow Once you avail of a loan, you have to start repaying it from the month. Frequent repayments may disturb your business's cash flow, and you cannot fulfil every desire you have for your venture.
Higher interest rates and unexpected costs Applying for an unsecured business loan can have an implication of high interest rate. In addition, lenders can impose extra fees in case of late repayment or add a hidden cost to the loan agreement.
Strict approval norms This is especially true for new or small businesses that must navigate strict affordability checks or eligibility criteria to qualify.
The loan process may take time Applying for a guarantor loan or a secured business loan can also slow down the process. Lenders must verify their authenticity before granting loan approval.
High debt during economic instability Nowadays, there is so much economic instability that it usually has a direct impact on businesses. Having already availed a loan, you may find yourself in a debt spiral.
business bounce back loans

What are business bounce back loans?

The business bounce back loans are the latest form of business funding in the UK where the financial assistance is given to those start-ups who have been suffered by Covid -19 pandemic. Initially, the Government launched the programme, but now many direct lenders and peer-to-peer lenders are also offering the same with much flexible lending norms.

To be eligible for these funding options, you need to have:

  • You have your company registered in England and Wales

  • Registered offices located in any part of the UK for the last five years

Like standard personal loans, these business loans are also available for 12 months or more than that depending upon the lenders’ policies. However, you may opt for any credit broker to have the right deal on these loans, but we suggest you go for direct lending for immediate results.

Difference between Figuralloans vs other lenders

We have a variety of business loans in the UK in which you can analyse a loan and its cost to your earning capacity.

Figuralloans say ‘YES’
  • We believe in your repayment capacity and puts little doubt on you. It means you have more chances of easy business loans approval with us.
  • We offer you the bespoke deal on unsecured business loans where your any asset is not at risk of losing.
  • We do not determine your loan approval on business credit rating. We consider your earning capacity and affordability to repay while approving bad credit business loans.
  • We are committed to preparing bespoke and customised business loan deals according to the individual business needs.
  • Responsible online lenders like us are often start-up friendly. We first understand their needs and limitations, and then offer affordable start-up business loans in the UK.
Other Lenders Say ‘No’
  • Banks and traditional institutions put more doubts on the repayment ability of start-up businesses. They may not offer you the best options.
  • Banks may not allow you the loan without asking for the security. It can be manageable for large businesses but indeed not for start-ups.
  • Banks usually have strict terms for businesses with poor credit rating. They may not offer you a loan or charge higher interest rates.
  • Traditional lenders are often strict with their lending policies and prefer to keep one-sided terms to qualify for their loans.
  • When you opt for a business loan from a bank, you may find a conservative approach where they possibly reject new businesses.

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FAQs

How can I submit my business loan application?

You need to either send an online query or send us a text loan message. We quickly respond to your application by mailing an initial loan quote. You can go through that quote and give your consent. Once everything is done, we transfer the funds to your bank account on the same day. If you want, we can offer a doorstep loan facility too. Before that, you have to meet business loan eligibility criteria, including requiring proofs of identity, income, residency, bank account, tax returns, etc.

Does credit check effect chance on business start-up loans?

We follow the soft credit check policy that does not affect your credit record. We do this only to analyse whether a particular deal is affordable for you or not. It will further help you in getting lower business loan interest rates.

Can I repay early my business loan?

Yes, you can make the early payout of the business loan depending upon the prevailing circumstances. We do not charge any fees for prepayment, but it would be better to inform us early. A few documents are required, such as the record of making early payments on time and the current income.

I need suggestions; can you give me business loan ideas?

Yes, of course, our loan experts are always ready to offer you valuable suggestions so that you can follow the process without any fault. They do not charge any fees for their advice. In fact, their fee-free guidance can provide the best insight into business loan tenure and repayment terms, tailored to your affordability.

Why choose Figuralloans for business loans?

We give you genuine reasons to choose us as your business loan provider:
  • Affordable business funding with multiple loan options for every type of business
  • Simple online loan process with not much involvement of documentation and provide funds in less business loan processing time
  • No issue of poor credit score or adverse credit rating

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