Do you have the perfect idea for a new business? Or do you already own a business and just want to start a new branch or product line? Maybe you should think of getting a little financial help via a business loan.
There are many different offers on the internet and you can choose a loan from £ 1000 up to £1 Million, however the maximal amount depends on your company and your credit rating. Some lenders accept only applicants with a business annual turnover up to £24 Million. If you want to lend a larger amount of money, it is very likely that the lender will require an asset as a secure for the loan, to get a guarantee that they will get back the money. You can get a loan from a traditional bank or online lenders who provide much cheaper interest rates.
Of course you could raise funds by selling interest in your company to investors. However, a business loan would have the advantage that you still have the whole ownership of your company. Furthermore you don’t risk a private bankruptcy when your business goes down as the business loan was made to a corporate entity.
There are thousands of offers in the internet – So take your time to compare them. Visit online comparison websites like Which Way to Pay which will help you a lot with finding the perfect loan. Check out for interest rate, payments and the ability to repay the full amount at once.