What are Business Loans?
A business loan can be used for numerous reasons; from injecting cash flow into the business, hiring staff, looking to refurbish your business premises or just general expansion. Whatever your reason may be Amber Mortgage Solutions will take the time to understand your specific needs and work with both you and our network of small and large business lenders to ensure peace of mind.
Most business loans will be secured against an asset, however, do not worry if you do not have an asset, we work with many specialist lenders who offer competitive unsecured loans.
Business Loans can be used for a number of reasons, such as: –
- Purchasing stock
- Taking on new staff
- Moving premises
- Paying off debts
- Buying new equipment
- Expanding operations
Secured vs Unsecured
Secured Business Loan
A secured loan is a loan that is linked to an asset of the borrower. This could be a business critical asset such as Trucks, Vans, IT Equipment, Plant Machinery or Medical Equipment to name a few. In some circumstances a further secured commercial mortgage against a commercial property can be sourced. The amount you can borrow will usually be directly linked to the amount of free equity in the asset.
This will be the difference between the value of the business asset and the amount owed. You will be able to borrow larger amounts of money with secured loans and often make the repayments over a longer period, however, the secured asset will be at risk if you fail to make repayments.
Unsecured Business Loan
If you do not have an asset it does not mean you are not eligible for a business loan, unsecured loans are available and Amber Mortgage Solutions work with a network of specialist lenders who offer loans of between £5 – £500k.
Unsecured loans will usually be for up to a maximum of 5 years but offer flexibility on how long you wish the loan term to be for. However, the rates offered on unsecured loans will be higher due to the risk to the lenders.
Amber Mortgage Solutions can help assess your situation and offer guidance on what loan will best suit your requirements. We will guide you through the entire application process and make sure you are aware of all costs and fees involved with the business loan.
Contact us on 01702 619 221 today.
Unsecured Loan Requirements
The process of applying for an unsecured loan is more complex than a secured loan, however, the finance available can still help you take the next step your business needs. At Amber Mortgage Solutions we understand that there are businesses out there who do not own any assets and we want to help them grow their business by successfully arranging an unsecured loan.
To successfully apply for an unsecured loan lenders will look at the directors assets, such as any freehold property they may own. The specific criteria will be specific to each lender but our specialists at Amber Mortgage Solutions can help guide you through the process.
What Is Invoice Finance?
Amber Mortgage Solutions can also arrange an Invoice Finance, Invoice Discounting or Factoring facility to aid cashflow for your business. This type of finance can typically be completed quickly as the businesses invoices act as collateral for the funds. Invoice Finance is a great way to ensure smooth and constant cashflow in your business.
If you think your business could benefit from this finance option then contact Amber Mortgage Solutions today on 01702 619 221.
Frequently asked questions
We have complied below a list of frequently asked questions to help guide you to your next business loan;
- What type of Commercial Finance is best for me?
- What is the difference between a secured and unsecured loan?
- How much can I borrow unsecured?
- What is invoice discounting?
- How much can I borrow through Invoice Discounting Loans?
- Why are rates for unsecured loans higher?
If you need further information, please call our friendly team of bridging loan experts on 01702 619 221 who can guide you through the whole process from start to finish.
Why choose Amber Mortgage Solutions for your next Business Loan?
Amber Mortgage Solutions will ensure that you have a dedicated specialist assigned to your application, they will help explain the details of the loan and assist you with your application every step of the way. The will ensure that you understand the terms of the loan being offered and are aware of all fees incurred.
If you are interested in applying for a Business Loan or wish to discuss the services Amber Mortgage Solutions offer then call us today on 01702 619 221.
How We Work
- To start with please either call us or complete the above application form
- One of our specialist commericial finance consultants will be in touch with you to discuss your application.
- After we have your details, we will approach our lenders for the best schemes to suit you.
- We will then talk you through the details of your finance deal.
- 100% Secure, Confidential and hassle free.