Do I need to offer security to get a business loan?

Every applicaton is assessed on its own merit. Larger amounts are more likely to require security and the interest rate is reduced when it is taken.

You need to consider what you are able to offer, and list anything available on your application form.

Types of security we take include Personal Guarantees (from the borrower or a third party), charges over business assets (such as machinery, vehicles or property), and charges over personal property. Some of these require bespoke legal paperwork to be drawn up, and any solicitor’s charges will be passed on to you in the form of fees.

Posted in: Business Loan FAQs