Business Loans
Explore secured and unsecured business loans to support working capital, investment and growth.
Business loans. For plans that mean business.
A business loan provides funding that your business repays over an agreed period, together with interest and any applicable fees.
Loans can support working capital, equipment purchases, expansion and other business expenditure. The amount available and the terms offered depend on the lender's assessment of your business.
Types of business loans
Unsecured Business Loans
Borrow without offering a specific asset as security. Lenders assess factors such as trading history, financial performance and repayment capacity.
A personal guarantee may still be required. Unsecured does not mean that directors or guarantors have no personal financial risk.
Secured Business Loans
Borrow against eligible assets, which may include property or business equipment. Available funding depends on the security offered and the lender's assessment.
Assets used as security may be at risk if the loan is not repaid.
Understanding the terms
Interest may be fixed or variable. A variable rate can change during the loan term and affect the amount payable.
Before accepting an offer, review the repayment schedule, total cost, fees, security requirements and any early repayment charges. A longer term may reduce regular repayments while increasing the overall cost.
Use of funds
What are you using it for?
These are the reasons businesses give us when they enquire. Here is where a business loan usually fits, and where something else usually does.
Commonly used for
Expansion / Growth
One-off, identifiable spending, with a repayment you can plan around.
Debt Refinance
Replacing or consolidating existing borrowing on terms you can plan around.
Tax / VAT Bill
A dated bill met with a fixed repayment, rather than taken out of your working capital in one go.
Working Capital
Where the shortfall is a genuine gap rather than a timing problem.
Payroll / Wages
Where the wage bill needs supporting over a period, not just through a single month.
Stock / Inventory Purchase
Buying stock against a plan you can repay to a schedule. If you are buying ahead of a season and your income is uneven, a merchant cash advance may match the trading pattern better.
Usually a different route
Equipment / Asset Purchase
The thing you are buying can usually secure its own finance, over a term matched to how long you will use it. That is Asset finance.
Cash Flow Support
If customers paying late is the whole problem, Invoice finance targets it directly instead of adding borrowing to the business.
Other / Not sure
Tell us the situation rather than the product. Working out which route fits is the part we do before anything goes to a lender.
The Approven approach
The right finance starts with understanding your business.
We take the time to understand what the funding needs to achieve, how your business generates income and what repayment commitments it can support.
We explore available options with your priorities, cash flow and overall borrowing costs in mind.
Product information
Costs and terms
Loan amounts, interest rates, fees and repayment terms vary between lenders and products.
Guarantees
A personal guarantee may be required for secured or unsecured borrowing. If you give a guarantee, you may be personally liable if the business does not meet its obligations.
Risk to assets and credit
Missed repayments may affect credit records and result in additional charges or recovery action. Property or other assets provided as security may be repossessed if the loan is not repaid.
Our role
Approven is a finance broker, not a lender. We arrange funding solely for business purposes, subject to eligibility, provider assessment and approval.
How we're paid
We do not charge customers a broker fee. We receive commission for successful funding introductions, and commission arrangements vary between providers and products. Where a lender’s commission forms part of the cost of the facility it offers, what we are paid can form part of what you pay overall. Where we introduce you to another broker, any referral arrangement and applicable customer fees will be explained before you proceed. The full position is under How we’re paid on our About page.
Business Loans. The Approven Way.
Whether you’re managing working capital or planning your next stage of growth, explore business loan options with Approven.
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OTHER FINANCE SOLUTIONS
MORE WAYS TO ACCESS FINANCE
Every business has different funding requirements. Explore alternative finance solutions to support your cash flow, investment and growth.
MCA
Funding assessed against business turnover, including card sales, with payment terms agreed upfront.
Invoice
Access a proportion of the value of eligible unpaid business invoices before your customers pay.
Asset
Spread the cost of equipment, machinery and vehicles, or explore refinancing eligible existing assets.
Bridging
Short-term finance secured against commercial property, for business purchases or refinancing.