Market-leading ratesDirect lenderAll scenarios coveredFast approval and completionInstant quotationsOpen 7 days until 95* reviewsA business loan is a lump sum of money that you return over an agreed-upon period of time with interest. The funds must be used for business expenses such as marketing, equipment, or expansion.
To be qualified to apply for a loan from us, you must:
Distinguishing between a business loan and a personal loan is paramount for individuals seeking to align financial resources with their distinct needs and objectives. A business loan serves as a targeted financial instrument designed exclusively for commercial endeavours. Typically utilised for purposes such as replenishing inventory, enhancing operational infrastructure, or fuelling expansion initiatives, these secured business loans are expressly earmarked to fortify the financial footing of enterprises. Conversely, a personal loan is tailored to meet individual financial requirements, with applications spanning a spectrum of personal expenditures. Whether financing a vehicle acquisition, undertaking home renovations, or addressing other personal financial needs, these loans are uniquely positioned to accommodate diverse personal aspirations and commitments.
In the event of a previous business loan denial, it's prudent to embark on a strategic reassessment of your financial landscape. Consider these proactive measures before contemplating another loan application:
By diligently adhering to these steps, you may substantially enhance your eligibility and fortify your candidature for a subsequent small business loan application.
Navigating the landscape of business loans can pose challenges for aspiring entrepreneurs. However, our commitment remains steadfast to facilitate access to financial resources for businesses of all sizes. With a steadfast dedication to streamlining the lending process, we annually approve numerous bridging loans, endeavouring to empower business owners with swift and straightforward access to capital.
Clients approach UK Bridging Loans either directly or via introducers. Basic questions by way of a “fact-finding” process are used by UK Bridging Loans to determine if the lending requirements are a possibility.
An immediate yes or no answer is given, and if suitable, a quotation is formulated and forwarded to the client, usually by email.
A formal offer is produced for any client wishing to proceed and forwarded for signature, again, usually by email.
Each client is visited at the security address for the signature of the remaining loan paperwork, including a CH1 land registry charging order. We will also collect any additional pre-requested documentation.
The signed documentation was immediately sent to our underwriters. Our model is based on very quick completions, as each deal is funded using all of our own money. On rare occasions, we may request additional information.
Average completion from initial acceptance to pay-out is usually just a few days. We rarely require valuations or additional legal representation. The land registry charge will be removed once the bridging loan is repaid.
The applicant could be too old to obtain a standard high-street mortgage, as most mortgage lenders now prevent borrowing beyond what is deemed “normal retirement age”.
The property may be in a condition where it is not suitable for mortgage financing, and as such, a bridging loan could be used to complete the purchase and any required work prior to refinancing.
The applicant may have had some adverse credit, however minor, which was previously acceptable to lenders but now no longer fits the high street lending criteria.
The applicant may have difficulty proving the income requirements needed for more regular financing. This may be due to poor self-employment records, a break from work, a reduction in self-employed workloads, or overtime.
Superfast completion, often within days
Land, with or without planning 2nd charge (consent is not always required) Quick auction finance 3rd charge (consent is not always required) Adverse credit is considered 2nd charge behind the bridging lender 2nd charge behind the equity release lender Up to age 85 Pure equity-based lending Residential and commercial Valuations are not always required Loans from £25,500 A free legal option No monthly paymentsDo business loans show up on personal credit?
Typically, the use of a business loan, even if personally guaranteed, should not directly influence your personal credit report. Business-related debt and payment activities are generally segregated from personal credit assessments. However, it's crucial to note that in the unfortunate event of a business defaulting on the loan, there is the potential for adverse implications on your personal credit standing. Therefore, while business and personal credit evaluations are typically distinct, prudence dictates maintaining vigilance over business financial obligations to safeguard personal credit integrity.
Can you get a 100% business loan?
While 100% loans are indeed accessible, it's essential to articulate compelling reasons to your lender if you opt not to make any personal contributions. Your lender perceives your financial input as a demonstration of your commitment to sharing the associated risks. Consequently, a lack of personal investment may raise concerns regarding your willingness to assume risk. Thus, presenting a clear rationale for your chosen financing approach is pivotal in fostering lender confidence and securing favourable loan terms.
Can a sole trader get a business loan?
Indeed, sole-trader business loans are accessible within the lending landscape. However, compared to their counterparts operating under limited companies, sole traders may encounter additional challenges in securing suitable financing options. Due to the unique nature of sole proprietorships and the associated risk perceptions among lenders, identifying an appropriate lending partner tailored to sole proprietor needs may necessitate a more discerning approach and diligent exploration of available options.
We offer a quick turnaround with fast bridging loans, and in some cases, we will approve and get you the finances you need in 24 hours.
Funding is provided for all manner of development needs, from light to heavy refurbishment or a complete development build.
A bridging loan can be a good way to stop yourself from falling into bankruptcy, giving you an urgent cash injection when needed.
Business finance can be obtained through bridging finance and can be used for a variety of purposes for your business.
Consolidate your debts into one monthly payment by using a bridging loan to bring your finances back into shape.
An unexpected tax bill could create a real strain on finances. Use bridging loans to pay your taxes.
A bridging loan can be used to take your mortgage out of arrears and stop the home from being repossessed in the process.
Our quick and easy bridging loan calculator can be used to easily identify repayments on a bridging loan with just a few clicks.
Bridging loans have risen to the forefront over the last 15 years, offering a dynamic solution to expedite buying a house.
Business Address: Office Block 2, Kibworth Business Park, Kibworth Harcourt, Leicestershire, LE8 0EX
Telephone: 0116 366 6338
Email: contact@ukbridgingloans.uk
