Up to £250,000 unsecured (typically)
Short-medium term (3 months to 3 years)
Varies according to lender, your business profile, amount and whether secured or unsecured
Plug your working capital gap
There are there main reasons why you might consider taking out a working capital loan:
You stand a better chance of getting an unsecured working capital loan (typically up to £250,000) if your business has a high credit rating, though you may be asked for a personal guarantee. If you take out a secured working capital loan, the lender will care less about your business profile and more about the asset. Secured lending is usually cheaper than unsecured lending because there’s less risk for the lender.
Working capital loans are just one type of working capital finance. You might also consider the following:
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