The question of secured vs. unsecured loans boils down to the lender’s risk. If they do not have any assets, however, they will need to apply for an unsecured business loan. Furthermore, unsecured loans are a great funding option for businesses that have no assets, or do not want to put up any collateral, or are growing quickly and need money instantly. Moreover, there are options for a wide range of situations with a variety of lenders on the market offering unsecured loans up to £250,000. Therefore, the surge in demand for unsecured business loans is expected to boost the growth of the market in the upcoming period.

  • Fill out a few details about your business and the loan you’re looking for here and our expert team will be in touch with you to discuss your options.
  • Most business owners seeking a loan are asked to arrange for collaterals.
  • As Australia’s most open-minded lender, we look at several aspects of your business to provide you with funding.
  • An unsecured business loan is a flexible and convenient way to get the finance you need, as you don’t require collateral to obtain finance.
  • We extend collateral-free loans for small companies at attractive business loan interest rates with flexible repayment tenures and minimal documentation.
  • » For businesses that need significant loans for large purchases, lenders may only approve smaller amounts.

To come over such situations, one can approach lenders for unsecured business loans which come with a comparatively simpler set of eligibility criteria. The fintech lenders offer unsecured business loans with a much faster processing and flexible eligibility criterion. In modern businesses, computer equipment becomes outdated very quickly. When you start your business, your emphasis should be on conserving cash and minimising expenses. However, you also need to ensure you can provide the best services and products for your clients, even through times of transition. An unsecured business loan is an ideal way to invest in the infrastructure of your business while maintaining your cash flow.

What fees does Qardus charge?

Registration fees must be paid by the borrower to the lender and they may be financed. For lines of credit, the maximum chargeable is the lender’s prime lending rate plus 5%. Early repayment and late fee’s are determined on a case by case basis with your relationship manager. Our team will reach out to you once your application is received. Upon reviewing your application, we will get in touch with about your potential financing options. If you are happy, simply accept the offer and move to the next steps.


Market participants also highlighted that many small businesses are unaware of factors that can affect lenders’ assessments of their creditworthiness. It was noted that this could be addressed through a coordinated information campaign involving government agencies, lenders and credit reporting bureaus. This could include existing programs to improve the financial capability of small businesses.

Variable Rate Loan

Note that usually, all company directors will have to sign personal guarantees. An unsecured business loan is typically taken over 1-5 years, with agreed fixed monthly repayments. In many cases, an unsecured business loan application will be assessed, approved and processed in a matter of days.