Secured loans to boost your business
Growing your business typically takes working capital. So a secured business loan can be a great way of getting the funds you need.
A secured business loan is a type of finance backed up with an asset as collateral. The asset can be anything from a residential or commercial property to vehicles and more. However, the lender will want to value the asset before the deal can go ahead.
If your business can’t repay the loan, the lender has the right to sell the asset to get their money back. Because of this additional security, secured business loans are seen as less risky than unsecured loans. As a result, they tend to come with lower interest rates and you might be able to borrow larger amounts.
That said, getting the tick of approval from a lender can be easier said than done. That’s because lenders don’t advertise the criteria they use to assess secured business loans, and these rules can vary widely from lender to lender.
We apply our extensive knowledge to find a solution that is right for you and guide you throughout the loan application process.
Why you should leverage the expertise of a Finance Broker
Getting knocked back would not only cost you time, it might also damage your credit score. That’s why it pays to work with one of our experienced Finance Brokers. We know lenders’ policies inside out, so we’ll structure your application to maximise your chance of approval. We’ll also compare a wide array of lenders and loans on your behalf, to ensure you get a secured business loan that suits your needs.