Summary: Business loan is taken to finance a business. The loan amount and interest rate depend on the the borrowers’ credit score, his intention to offer or not offer collateral and the loan term. This loan is accessible without collateral and with poor credit score.
A business loan is taken to finance a business whether small, medium or new. One can use this loan for a number of business purposes like buying a plant, paying off business debts, business expansion, purchasing equipment, machinery, raw materials etc. This loan is available in both secured and unsecured form. If you plan to take the secured business loan you have to offer collateral, mostly a residential property. For unsecured business loan, no form of collateral is necessary.
The amount you can borrow largely depends on three factors: your credit status, the value of the collateral you offer and your capacity to repay the loan. As a rule the loan amount ranges from £25,000 to £50,000,000. However, a high value collateral will enable you to borrow more than the highest limit mentioned here. An impressive credit record together with high value collateral will increase your chance of borrowing even more than that. The interest rate of www.adverse-credit-business-loans.co.uk