We draw upon over 30 years to offer you the perfect tailored finance solution for your business. The firm’s strong point, beyond its spotless reputation, is how quickly it responds to applications (often as quickly as 60 minutes!) and the wide range of businesses it deals with. The firm will deal with large merchants or importers but also smaller businesses, such as family-owned stores and entrepreneurs.

  • You would not want to put your asset at stake for a short-term loan you want for your business.
  • We have always found Stuart and his colleagues to be efficient and quick in providing services that meet our needs and we would recommend them.
  • As evident by the name, an unsecured loan is a loan without collateral where the financial institution lends you the amount based on creditworthiness.
  • This is why we offer a host of business funding options for helping you to achieve your goals.

If you have collateral to utilise, it may be worth getting a secured loan to avoid high interest rates. Because a secured business loan is protected with specific assets, the lender is able to take control of these assets if you default. In the case of an unsecured business loan, the lender would have to go to court to secure an order to seize any assets. An unsecured business loan is a loan that does not require any collateral while giving you the cash needed to support your business. An bank loan for a business that is unsecured will have greater flexibility and offer shorter repayment terms and lower total amounts.

Prospa Small Business Loan

Eligibility for EFG loans rests solely with the provider, however, who would be following governmental criteria. It’s vital that you spend as much time necessary considering the offer you are made, and reading any fine print within the contact. Ensure there are no hidden costs, fees or charges, or clauses which may make the loan less appealing than it first seems. Yes, in fact most of our unsecured loan applications are done via Limited Companies, however, sole traders and partnership applications are also welcomed.


When a business lacks history securing financing can be difficult. You may still qualify for amerchant cash advanceor business line of credit. The last alternative method of unsecured financing would be using credit cards. When you are approved for a Prospa Small Business Loan, you can choose to delay your first repayment for between 1 and 4 weeks if you wish.