Unsecured business loans allow businesses to expand and can be used for a variety of reasons. Finance is available from a wide array of specialist lenders allowing many business types and sectors to be considered. The funding is usually quick and easy to arrange, particularly in comparison to commercial mortgages.
Unlike commercial mortgages funds can be available in days and many clients will use them for short-term requirements as they can provide a quick and easy solution to support cash injections for their business, funding growth, raising any shortfall for a deposit on a commercial purchase, or even providing the ability to 100% purchase on a multitude of commercial assets without having to provide a tangible form of security
This has become an attractive avenue for business owners as it can be achieved with minimal information, typically two years trading accounts and three months business bank statements will be enough to obtain an option for lending within 48 hrs. Clients can also receive the funds within two weeks of submitting an application.
The speed and convenience of the product does demand a greater premium, with rates on unsecured commercial finance typically higher than standard commercial mortgages. But, for many clients, unsecured lending can be a great way of raising funds quickly, negating additional costs of valuation and legal fees or quite simply piece of mind that a business asset has no direct charge registered against it and can’t be seized.
The ability to redeem an unsecured loan at any point throughout the agreed term penalty free provides a layer of flexibility and overall control is in the hands of the borrower. So, for clients who want access to fast and convenient funding, an unsecured loan could prove the most economical option.
Get in touch
You don’t need to be a commercial specialist to benefit from the demand for unsecured business finance. By working with Brightstar you have access to our team of experts and our comprehensive lender panel, which covers the full spectrum, from high street to challenger and specialist lenders, including those that are not available on a direct-to-broker basis.
If you would like to learn more about how you can work with Brightstar to help provide commercial finance solutions to your clients, call our team on 01277 508959 or click here to enquire.
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