Do you need a small business loan to keep your company thriving?
Cashfloat, the payday lender you know and trust in personal finance, has teamed up with leading small business loans providers to give you the best online borrowing experience for your business! As with all of our unsecured short term loans, you can expect a fast, simple, and hassle-free process no matter your industry, business or credit score.
✔ £1,000 to £200,000
Don’t let money problems stop the growth of your business!
Who can apply for a small business loan with Cashfloat?
Cashfloat can offer small business loan quotes to most SMEs (small and medium sized enterprises). As long as you are a sole trader, LTD, LLP or PLC company, you can apply on our website, provided you fit the criteria laid out above.
Small business loans can be used for all sorts of purposes across a wide range of industries:
Auto and Transportation
Whatever industry you operate in and whatever loan amount you need, you can apply through our single, straightforward online application form.
Representative Annual Percentage Rate 49%
How our small business loans work
Cashfloat is working with the top business loan providers in the UK to offer business loans from £1,000 up to £200,000, with loan durations of up to 12 months. We’ve created a unique online, hassle-free process to fit the busy lives of business owners like you. We don’t require detailed business plans or an in-person meeting. Our process is quick, straightforward and fully transparent – all without compromising on security or the quality of our service.
We’ve designed the form to be short and straightforward
24 hour decision
Decisions are based on business performance, not credit score
Once approved, you can get sameday funding
Repay in easy instalments
Make monthly repayments on the pre-arranged dates
Cashfloat has teamed up with the best business funders to provide you with a complete business funding solution! All you need to do is fill out our short online application form and you’ll receive a decision from one of our trusted partners within 1 business day.
Before applying with Cashfloat, save time by checking if you and your business are eligible! Here are our business loan requirements:
- Be over 18 years old
- Be a company director
- Live in the UK
- Have an Equifax score of 350+
- Be UK based
- Be An LTD, LLP or PLC small business
- Have been trading for at least a year
- Have an annual turnover of at least £50k
How quick are your small business loans?
We specialise in fast finance – which is why leading business funders have chosen to work with us to help provide fast business loans. Applying with us takes about 5 minutes, and you will receive a decision within one business day. If approved, you can get funded in just 24 hours! You can speed up the process by having the following documents ready before applying:
- All your business information, including your company registration number
- Last three months of your business bank statements
- The most recent set of management accounts.
- Last VAT return
Who needs banks? If you and your business fit the above criteria and have all the information on hand, you can qualify for for a same-day business loan. Beat that!
Unsecured Business loans
Our business loans are all unsecured, with no personal guarantee needed. Most lenders offering unsecured loans do require a personal guarantee from the company director. At Cashfloat, we know that when you apply for your unsecured business loan, you want it fast, and you do not have the time to look for a guarantor. This is why we do not require any form of guarantee to secure your loan.
Should I choose an unsecured loan or secured business loans?
If you are unsure what type of business loan will suit you and your business needs better, then this table should help you with the pros and cons:
|Unsecured Business loans pros:||Unsecured Business loans cons:|
|Secured Business loan pros:||Secured Business loans cons:|
Is there government help for small businesses?
Business Loan FAQs
What is a small business loan?
A small business loan is a type of business funding that enables smaller sized businesses to borrow money to fund their business operations. Business loans can be used as working capital for easing cash flow problems, financing a small business purchase, to pay off debt or as a business expansion loan.
Can I get a business loan with bad credit?
Yes. Just like you can get payday
loans for bad credit, you can also get a business loan for bad credit. At Cashfloat, we want to give all businesses
a fair chance at succeeding. So whether you need a business startup loan or just a regular business
loan, we are here for you – whatever your credit rating.
What are small business loan rates?
Business loan rates in the UK will vary with every lender and based on the business products they offer. Your business
sector and credit history can also significantly impact the business loan interest rates that lenders offer you. Interest
rates can be either fixed (stable over the loan term) or variable (fluctuate during the loan term).
Cashfloat can help you access low interest business loans, starting at just 2% a month! We’ll lay out all the repayment terms and charges when you apply, so you’ll know exactly how much the loan will cost before signing any contract.
Should I use a small business loan calculator?
A business loan calculator could provide you with more clarity on what amount and term options suit you. It can give you a better idea of how much you could borrow, the interest rates charged and the total you will have to repay. You can rest assured that we have partnered up with premium business providers in the UK to get you the best deals and rates.
Can I get a small business loan with no credit check?
People often look for “no credit check business loans” or “bad credit business loans with guaranteed approval” to avoid
the hassle of getting rejected by lenders. However, these loans are not recommended as the lenders are often not FCA authorised, and may not necessarily care about their customers’ security.
If you’re worried about getting declined due to bad credit, how about focusing on improving your business credit score instead. This is an excellent solution for helping your business in the long term. Click here to read more about how to fix your business credit score.
Are business loans for women available?
Cashfloat believes in equal opportunity for all borrowers and does not ask for or consider your gender when processing loan applications. As long as you fit the criteria, you can apply for a small business loan with us. Want to know more? You can read more about small business help specifically for women here.
Can you get a small business loan without collateral?
Yes. Applying with Cashfloat for a business loan requires no collateral whatsoever!
If you are looking to take out a very large business loan or your credit is very poor, the lender may require you to secure the loan with collateral. Although secured business loans have lower interest rates, they are much riskier to borrow as you can lose your assets if you default.
Do business loans use personal credit?
Most business loan lenders will consider your personal credit rating as well as your business’ performance before approving you for a loan to make sure you can be trusted to pay the loan back.
Can I pay my small business loan early?
Yes, you can repay your business loan early with no early repayment fees, but you will of course need to pay the daily interest for the time you had the loan.
Can you use a personal loan for business?
Yes! The advantages of using a personal loan for business is that your business’ performance is not checked – which can be useful if you’re starting a new small business or you don’t want to send sensitive business information to lenders. However, if you default on the loan, it will be your own personal responsibility to repay the loan, regardless of whether the business is still operating or not.
How long does it take to get fast working capital loans?
Just like a small business loan, they can often reach your business bank account within a day of being approved. Our loans are way quicker than most business loan companies and big banks.
Apply for a small business loan now!
Every business needs funding to grow, and we’re here to help that happen. At Cashfloat, we want to give every small business the opportunity to succeed, which is why we’re partnered with the leading business lenders to offer small business loans right here on our website! As a business owner, your time is precious– and we won’t waste any of it. Our application takes just 5 minutes to complete, and you’ll get a decision within one working day.