Business Loans
Simply Business can help you get funding for your business
Every type of business needs funding to survive. We’ve helped thousands of businesses to grow and thrive by finding them the right type of business lending facility for their individual needs.
What is a business loan?
A business loan can help you start a new venture, grow your existing business or consolidate existing debts. The loan can be secured or unsecured against assets of property and will have a variable or fixed rate of interest.
What types of loan are available?
- Invoice Finance (Factoring or Invoice Discounting)
- Balance Sheet Funding (also known as Asset Based Lending)
- Asset Finance
- Commercial Mortgage
- Trade Loan
- Personal Loan
A quick guide to Business Loans
Invoice Finance
- Invoice finance lenders advance money against your raised invoices
- Receive up to 90% of your invoice value within 24hours
- Factoring allows you to outsource your sales ledger management
- Invoice Discounting allows you to keep more control of your debtors
- Available to many small businesses as it is a secure loan
Asset Finance
- Best for capital expenditure requirements
- Borrow against the asset you are purchasing
- Asset Financing can include the options of buying or renting the asset
- Contract hire options on assets such as bespoke machinery or company cars may include ongoing maintenance and repair
Balance Sheet Funding (Asset Based Lending)
- Borrow against each asset on your balance sheet
- The lender reviews each asset on the sheet and assigns an individual interest rate and loan-to-value ratio.
- The value of the assets is then pooled and a loan facility offered to be drawn against
- This type of lending would include invoice finance
Commercial Mortgage
- Allows a business to borrow against any property it owns
- Can provide a substantial cash injection for a business
- Can be repaid with the sale of the property
- Regular repayments each month
Unsecured Business Loan
- More difficult to secure in the current financial climate
- Flexible finance that is repaid over the long term
