I want to borrow

What are working capital loans?

Do you want to grow your working capital further to boost your business? Is the late payment causing you unnecessary stress? Such challenging circumstances do happen as the business always have ups and downs.

Working capital loans are the type of business finance to accomplish short-term expenses, such as paying incomes, filling funding gaps in the invoices or making an investment. These funding sources are more favourable for the small business, as these are the unsecured loan available within 24 hours of the application submitted.

Please note that the working capital loan is not for long-term financial goals. It will be better if you use them to narrow the funding gap cropped up while investing.

Unsecured working capital loan

  • Borrow up to £150000
  • Personal Guarantee is Mandatory
  • Good Credit Score is Welcomed

Secured working capital loan

  • Borrow up to £250000
  • Must be pledged with an Asset
  • Low Credit Score Can Be Acceptable

How the application process of working capital loans works?

Before applying for the loans, you should know that the working capital loans are available for a maximum of 12 months, as they are a short-term loan. Unlike other direct lenders in the UK, Figuralloans has added the advantage of fast working capital loans, available within a few minutes if everything is okay in your application process.

These factors influence your application that you are going to submit for any type of working capital loan:

  • Credit Ratings: Your credit score matters a lot, but this is not the sole factor of loan approval. Your recent credit performance will make your chances strong for the guaranteed loan acceptance.

  • Current Financial Needs: How much do you need to tackle the urgent expenses? This factor also influences your loan approval because we only provide loans on affordability.

    The application process is as follows:-

    • Apply through an online application form

    • Submit the form carefully with all required details

    • Receive an instant quote from us

    • Analyse the quote and confirm it

    • Same day approval if everything is okay for us

    • We make funds available within 24 hours to your bank account


How you can qualify for working capital loan?

If the application process is not lengthy, the working capital loan qualifying criteria are also not complicated. Many private lenders in the UK ask for the hefty cash flow and allow loans only to those capital businesses with years of establishment and having registered office.

As the responsible credit provider, we understand all the difficulties and challenges to be eligible for a working capital loan for new businesses. Therefore, we have framed simple and straightforward eligibility requirements, such as:

  • Your company must be registered in England

  • You should have a minimum turnover of £100,000

  • You should have an adequate annual income that is affordable for loan repayment

  • As an owner, you should be a homeowner and over 18 years of age

  • You should possess one-year’s accounts

  • You do not have any previous debts to payout


Where to use funds borrowed from working capital loan?

The working capital finance is an ideal funding option for short-term expenses. The primary purpose of such business loan is to keep the cash flow while making a further investment or to achieve a specific business goal.

Nevertheless, you can utilise the funds borrowed from working capital loans into these purposes:-

  • Hiring Staff

  • Need cash for low season

  • Tackle unexpected expenses

  • Purchasing Inventory

  • Short-term investments

  • Invoice Payments

  • Grow your business

  • Paying off current debts

  • Improving business credit scores

What are the benefits and risks of working capital loans?

An instant decision becomes mandatory when your business is running out of cash flow. You need to have the right funding option that can assist you in tough times. Getting the SME working capital loan on interest rates that are competitive, is indeed the boost you needed.

Here are the advantages and risks involved while going for working capital loans:-

Benefits of working capital loans

  • You can easily tackle cash flow problems with the quick availability of loans within 24 hours.
  • The loan term completes early within 12 months, and you can concentrate more on your business growth.
  • You have both the option needed secured and unsecured. You can make your choice according to your affordability.

Risks of working capital loans

  • The interest rates are usually higher than usual, especially when you are going for the unsecured loan.
  • Your property or any business asset may be at risk if you miss out the repayment in between the loan term.
  • Missing out monthly instalment can affect your credit score badly. Proper repayments become necessary

Can I apply for working capital loan with bad credit?

A good credit score is undoubtedly a significant working capital loan requirement. Most lending institutions or business bank take it as the sole criteria while approving the applications. At Figuralloans, it is the primary factor but not the sole one.

With a low credit score, you may have limited funding options and less creditworthiness. However, we have opened our doors for you by offering customised deals on working capital loans for bad credit. Since these loans are not for long-term, we do not mind funding your business needs.

Please note that these will be higher interest rates and might need a guarantor or collateral to ensure the timely loan repayments.

Why choose Figuralloans for SME working capital loans?

You do not need any credit brokers to reach us because we have a vast online presence. Like the doorstep loans, we are trying hard to take our business loan at almost every UK city. In a short time, we have emerged as one of the most reliable working capital lenders in the UK. With us, you have several advantages like:-

  • Flexible lending terms

  • Smooth process fit to everyone’s schedule

  • A transparent procedure

  • Free Mentoring from our lending experts

  • 99% satisfied customers

Do you need a secure business financing? Figuralloans brings exactly to your favour with its working capital loans. For further queries, ask us anytime and submit your application.


Why availing working capital loans is a good idea?

Yes, applying for the working capital loan is indeed a right decision. You can quickly tackle your short-term business operations and needs. You do not have to disturb your other business planning and can concentrate on more business growth. Besides, you have the unsecured working capital loan option too with no risk involved.

How long can i avail working capital loan?

Usually, the working capital loan is available for 12 months, but Figuralloans can extend the term to 24 months depending upon the borrower's current financial needs and credit performance.

What documents do I need to Submit for working capital loans?

We have a simple application process with less documentation. However, we still need a few documents that you can mail us as scanned copies:-

  • Last 6 months bank statements
  • Latest filled financial accounts
  • Residence proof

I am not the homeowner, will I qualify for the loans?

You need to be the owner of the registered property to apply for working capital loans. Our primary concern is to provide affordable loans, and thus, we offer loan deals only to those who can afford them.

Are there any specific fees involved?

Initially, you only have to pay the interest rates that are mentioned in the initial quote. We do not charge any upfront fees but will contact you initially if an additional charge is involved or not.