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What are unsecured business loans?

The unsecured start-up business loans in the UK are the specified funding option for those aspiring for their own business or who have just started their ventures.

These can come into the short-term loan categories where one submits the loan application for smaller business purposes.

Taking your business to new heights needs adequate planning, proper implementation and sufficient funding. Planning and its execution are in your hand but not the funding part. If you lack adequate funding, the doors are open to avail unsecured business loans with no personal guarantee in the UK.

At Figuralloans, we look for your complete financial assistance. We know how important it is for you to run a start-up because you want your own income. We feel delighted to assist you in your endeavours.

The striking feature of our financial help is that we offer to fund beyond your credit score. We are unlike traditional lenders who tend to fund only those with better credit record. Our bad credit business loans on guaranteed approval in the UK are enough to give you peace of mind.

These loan deals become possible with our flexible policies embellished with soft or no credit check. It further helps in enhancing the credit record with easy-to-manage monthly instalments.

There are many reasons why you need to look for finance, like marketing, investment and many more. Applying for the secured business loan is not possible with limited assets and annual income, especially for the sole traders. However, this should not be the reason not to look for a funding option.

The unsecured business loans for start-ups are ideal for getting the funding with no fear of losing assets. Instead of loan security, the lenders seem more interested in your trading history and annual income to afford the loan.

These are the loans on higher interest rates but have more loan approval than the secured loans.

Can I get unsecured business loans with no personal guarantee?

The small businesses, the start-ups and the newly established limited companies in the UK have the common struggle of personal guarantee. Traditional lenders like banks are too specific about the loan guarantee, and they hesitate to offer loans to the business owners.

At Figuralloans, we understand their compulsions and ready to offer unsecured business loans with no personal guarantee in the UK. Instead of signing the contract for a personal guarantee, we analyse:

  • How much you are earning

  • How much you can afford the loan

  • Your guarantor's credit history

However, we can prefer only the people with a good credit history and have performed well recently in managing their finances.


Is there any possibility of unsecured business loan with bad credit?

With the low credit rating, finding a business loan becomes difficult because you have less trustworthiness.

It is a significant obstacle for those small business owners who have the issue of less-than-perfect credit history. Perhaps, this is the reason why looking for alternative business finance becomes a necessity.

Our unsecured business loans in the UK for bad credit people have become the lifeline for right finance and boost the credit score. You can come directly to us without approaching any credit broker, to avail these loans.

Here are the features of these loans:

  • Loans on affordability

    We first analyse your annual business income and your affordability to bear the high-interest rates. Once convinced, we discuss with you the loan terms and conditions to finalise the loan deal.

  • Preference for recent credit performance

    We do not mind how you have handled your credit in the past. Instead, we want to know your recent credit performance. If it shows improvement, we instantly approve the loan application to funding your business needs.

  • Flexible repayment terms

    Unlike other direct lenders in the UK, we give an advantage of flexible repayment terms on the unsecured business loans for bad credit. You can choose your repayment term to manage the loan without disturbing overall finances.

What are the benefits of an unsecured small business loan?

Unsecured business start-up loans in the UK bring significant advantages for the business owners. Usually, you need to pay the monthly or quarterly instalment on fixed repayment for the long-term funding. These loans are for the short term, and lenders make them available on flexible repayments.

  • Apply Online with Minimum Documentation: There is no need to go outside to apply for the loans. You can sit online to apply via single page form with not many documents to submit. It saves a lot of time and allows you to concentrate on the business functionalities.

  • Instant Loan Approval: You need a quick cash injection to boost the business capital. The online application mode of unsecured loans for business brings fast approval. It will be done within 24 hours of the application submitted by the borrowers.

  • No Asset on Risk:This is a significant advantage of unsecured business loans. You can either arrange a personal guarantee or keep a good recent credit performance to get the approval. Your any asset is not at the risk of losing its possession.

  • Any Purpose Loans:Do you want to borrow funds to expand your business wings? Do you like to invest but not many funds you have? Well, the perfect solution to these problems is the unsecured small business loan. Apply for it for any business purpose.

  • Ideal for Financial Emergencies:The secured loans may not be a suitable option for financial emergencies. On the other hand, the unsecured business loans with their fast approval come as the ideal alternative for urgent expenses.

How unsecured loans have advantage over secured loans

When it comes to businesses' funding option, you have both the unsecured business loans online and secured business loans. You can opt for any of these options for your business funding after knowing the difference between them.

Unsecured business loans

  • No assets are required to back the repayments
  • There are more chances of quick and guaranteed loan approval due to the small amount
  • The loan amount is available to borrow between £5000 and £100000
  • Unsecured loans for business are ideal funding alternative for start-ups in the UK

Secured business loans

  • Lenders need assets as security like commercial property, business papers or any other collateral
  • The lending institutions first want to check the value of pledged security, and it is something not well, they can deny the application
  • With the security pledged, you can borrow up to £200000.
  • This option is ideal for established businesses, as they can borrow large for long-term business goals.

What should I do to get urgent business loans with bad credit?

There is no doubt that your business needs significant when you need something or when you desire something. If you have enough savings, then you can use that money to accomplish your goal.

During the lack of adequate funding, you need to approach external sources. Here we mean the direct lending marketplace. Yes, as part of that marketplace, we can reckon your application on business loans even if you have a poor credit score.

Indeed, your poor credit history does not matter to us. We take care of your business financing with more current capacity and performance.

Whenever you have the requirement of urgent business loans with bad credit is not an issue, you can come directly to us. We not only fund your business needs but also guide you in making a successful loan application.

We are no doubt that we give you easy loan approval, but you still need to fulfil specific requirements. As a responsible private lender in the UK, we have brought some relevant suggestions for you.

Follow these things to get urgent funding through business loans for bad credit:-

  • Borrow within your affordability

The first thing that you should do is to borrow funds according to your affordability. It means you should not borrow more than your earning capacity.

Most lenders usually deny the loan application of those business owners who ask for large funding, but their capacity does not allow the repayments. Later, they struggle to maintain the loan repayments and lost their financial credibility.

You should not do this. Analyse your loan affordability first, and then borrow funds accordingly.

  • Pre-check your credit score

If you want to get urgent funding, you should pre-check your credit score. However, we always perform a soft credit check. Still, if you inform us about your credit score, it will help us prepare an affordable loan deal quickly.

You can approach any credit reference agency to get a credit score. Some prominent agencies are Experian, TransUnion and Equifax. You can choose any of them to get your exact credit profile.

If you know your credit score, it will also help you to improve your credit score. You know how much you can afford, and you will borrow within your limit to repay quickly later.

  • Show your business plan

Sharing your business plan with us is another vital step to getting urgent and assured business funding despite the bad credit. It is essential because we can analyse how much is the capability of your business and how much you earn.

Knowing it helps us provide the loan deals with reasonable interest rates and repayment terms. You only have to pay reasonable interest rates that match your business earnings.

It does not matter whether you have a small business or an established one. Your business plan will pave the way for smooth funding.

  • Arrange for a guarantor

You have a bad credit score, and providing the collateral may not be possible for you. In such circumstances, you can attract a lender by providing a guarantor.

Yes, it is best to get urgent funding because the lender feels safe in funding you. If you cannot repay in the mid-term of the loan deal, your guarantor can make the payments. However, the guarantor should have a credible credit history.

By providing the guarantor, you can get extensive funding without any fear of losing the loan application. The interest rates can also be on the more competitive side.

Thus, these are a few suggestions to help you in getting urgent business loans for poor credit. Rest all depends upon you.

Are unsecured business bounce back loans available?

Do you have a registered office in England and Wales? Do you need funding within 24 hours to meet urgent expenses? If yes, Figuralloans is the right place for you to get back on the business feet.

We have exclusive deals on unsecured business bounce back loans where struggling companies can seek funding on competitive interest rates. You get the quick access of a small amount of funds to eradicate financial difficulties. Besides, you do not need to put any assets to secure the borrowed amount.

Do not let yourself down if you do not own an asset to get the loan approval. Despite bad credit and no personal guarantee, you can continue to apply for an unsecured business loan now.


How can I qualify my business for unsecured loans?

The unsecured business loans are available for limited companies, sole traders and self-employed.
  • You need to have at least £100,000 of annual turnover
  • You must possess a one-year financial account

How much is the Interest Rate on Unsecured Business Loan?

The interest rates at Figuralloans are part of a flexible policy. It depends upon the borrowers' need and current income. Thus, the interest rates vary from lender to lender.

Why choose Figuralloans for these Loans?

These reasons attract our borrowers to choose us:-
  • Transparency
  • Quick response
  • Responsible lending
  • All round lending options

I started my new business just a few days ago. Can I apply for unsecured business loan?

Yes, of course. You can get approval because we do have the provision of unsecured business loans for start-ups in the UK. The interest rates might be higher, but the approval chances are higher.

Can I seek loan approval for medium term lending solution?

Yes indeed, you can get the approval on an unsecured business loan to use as the medium-term lending solution. However, please discuss your needs with us before applying.