Fast and Flexible Business Loans for UK Companies

Securing a business loan involves several steps: 

1. Assess Your Needs: Clearly define the purpose and amount of funding required. If you’re at the start of your journey, read our Everything You Need to Know About Business Finance guide or download our Ultimate Business Finance Checklist to get started. 
2. Check Your Eligibility: If you want to check your eligibility without it impacting your credit score, you can submit a quick enquiry using our Check Eligibility tool. 
3. Submit Documentation: These can be as simple as just 6 months financial statements, but can include business plans, for more complex finance deals. 
4. Sit Back and Relax: Our business finance brokers will do all the paperwork and contact our panel of the UK’s best business lenders for you, meaning you can focus on running your business. 

Millbrook Business Finance provides both unsecured and secured business loans tailored to the specific needs and financial status of UK-registered companies. Unsecured loans are available without requiring security over assets or property, ideal for businesses needing quick funding without substantial assets. Secured loans, on the other hand, are backed by assets and are suitable for companies looking to borrow over £500,000 or preferring longer repayment terms.

An unsecured business loan is financing that doesn't require collateral. Approval is based on factors like creditworthiness, business performance, and financial health. 

A secured business loan requires the borrower to pledge assets—such as property or equipment as collateral. This security reduces the lender's risk, often resulting in more favourable terms, such as lower interest rates or higher borrowing limits. 

Business loans provide a lump sum of capital to be used for various business purposes, such as expansion, inventory purchase, or operational expenses. The borrower agrees to repay the principal amount plus interest over a predetermined period. Repayment structures can vary, including fixed monthly payments or flexible schedules, depending on the loan terms.

Applying for a business loan typically involves: 

1. Assess Your Needs: Clearly define the purpose and amount of funding required. If you’re at the start of your journey, read our Everything You Need to Know About Business Finance guide or download our Ultimate Business Finance Checklist to get started. 

1. Check Your Eligibility: If you want to check your eligibility without it impacting your credit score, you can submit a quick enquiry using our Check Eligibility tool. 

1. Submit Documentation: These can be as simple as just 6 months financial statements, but can include business plans, for more complex finance deals. 

1. Sit Back and Relax: Our business finance brokers will do all the paperwork and contact our panel of the UK’s best business lenders for you, meaning you can focus on running your business. 

Business loans can be utilised for a variety of purposes to support UK companies. These include expanding the business, marketing and advertising efforts, managing cash flow, consolidating debt, purchasing stock or inventory, paying staff, renovating or upgrading premises or facilities, and covering unexpected VAT bills.

The key benefits include quick and easy access to funds, bespoke loan arrangements tailored to specific business needs (including flexible repayment terms and competitive interest rates), improvement of cash flow, building business credit, opportunity for growth and expansion, and faster achievement of strategic business goals.

Millbrook Business Finance is capable of releasing funds in as little as 8 hours, offering a fast and efficient financing solution for urgent business needs.

Eligibility for a business loan depends on various factors, including your business's credit score, financial statements, and the lender's specific criteria. Speaking with a business finance broker can provide clarity on lending criteria, additionally you can check your eligibility for business finance solutions on Millbrook’s website

Obtaining a business loan with bad credit can be more challenging, however not impossible. Alternative financing lenders offer a wider variety of business finance solutions with more flexible lending criteria to ensure you find the best fit solution for your business circumstances.  

Securing a loan to start a business involves: 

1. Developing a Comprehensive Business Plan: Outlining your business model, market analysis, and financial projections. 

1. Assessing Personal Finances: Lenders may evaluate your personal credit history and financial stability. 

1. Exploring Finance Options: It is very difficult to secure a business loan to start a business, however, this is where asset and equipment finance can be a game-changer. Check your eligibility for asset and equipment finance now to see if your can secure start-up business funding equipment, machinery and even vehicles. 

1. Preparing Documentation: Gathering necessary documents to support your application. 

1. Sit Back and Relax: Our business finance brokers will do all the paperwork and make contact with suitable lenders for you, to ensure you are securing the best bit finance solution for your business. 

Obtaining a business mortgage loan can be done through commercial property finance, this usually involves: 

1. Identifying Suitable Properties: Determining the commercial property you wish to purchase. 

1. Assessing Financial Readiness: Ensuring your business has a strong credit profile and sufficient income to cover mortgage payments. 

1. Researching Lenders: Our business finance mortgage brokers will find the right lenders that offer commercial mortgage products suitable for your business. 

1. Preparing Your Application: Including financial statements, business plans, and details of the property. 

1. Submitting the Application: Applying to the chosen lender and awaiting their assessment. Our business finance brokers will handle the process for you to secure your new commercial property. 

Head to our commercial property finance page to learn more about how Millbrook Business Finance can help you to obtain a commercial business mortgage. 

A business loan is a sum of money borrowed by a business entity to cover expenses or strategic needs. This could include funding for business expansion, purchasing equipment, or managing cash flow. The business loan is repaid over time with interest, according to the terms agreed upon with the lender. 

Millbrook Business Finance stands out due to its team of finance experts dedicated to finding the most suitable business loans for individual needs, competitive interest rates, flexible loan terms ranging from 3 months to 10 years, a quick and easy application process, and access to over 100 of the UK's top business lenders. They focus on providing a no-fuss service with no hidden fees, ensuring businesses get the finance they require efficiently.