Business Loans

For many businesses, expanding operations or upgrading equipment is the next step on the road to success. However, the cost of these investments usually requires financial support or outside funding. In these circumstances, business loans are often the most viable option, providing access to money that can be utilized to boost working capital, manage cash flow and invest in growth and expansion.

As with any loan, business loans involve the borrower paying back the loan plus interest over an agreed period of time. This provides businesses with a large cash injection for upfront investment costs, which can then be paid back in smaller, more manageable amounts.

Typically, lenders will offer 2 types of business loans, secured and unsecured.

Secured Loans

Secured loans involve using an asset from a business’s balance sheet as collateral for the loan. This type of business loan usually has lower interest rates due to the security of the asset, such as property or machinery.

Unsecured Loans

Alternatively, unsecured loands allow a business to borrow money without the need for assets as security. This form of business loan is often a more suitable option for start-ups with fewer physical assets available as collateral. Unsecured loans have higher interest rates than secured loans, due to the higher risk from the perspective of the lender. They will also run credit checks to assess whether the individual or business will be able to pay back the loan.

Hassle-free business loans

Business loans are incredibly common and often one of the first ports of call for businesses looking to raise finance or invest in expansion. However, we understand that securing a loan as a small business can often involve complicated applications and long wait times.

Here at Fly Funding, we work with multiple lenders to ensure our clients have access to the financial resources they deserve. To discover how your business could benefit from a loan, reach out to a member of our team today.