Unsecured Business Loans.

Fund Your Cash Flow, Debt Consolidation, Business Expansion

Unsecured Business Loan

A Complete Definition

What is an Unsecured Business Loan?

An unsecured business loan is an ideal solution for funding your cash flow, debt consolidation, business expansion and much, much more.

When you require a fast solution and want to avoid dealing with the bureaucracy of a bank, an unsecured business loan may be just what you’re looking for.

Coates Finance has lent a helping hand to many companies in need of a cash injection.

We understand that running and keeping a business afloat is challenging. We also understand that unexpected and uncertain economic times can happen.

This is where an unsecured commercial loan can be a safety net or the solution you need for growth.

Use a fresh injection of working capital to purchase new equipment needed for the day to day running of your business without using your assets or property as security.

helping you get the right Finance for your Business

How do Unsecured Business Loans Work?

Unsecured Commercial Loans Explained

The process of obtaining the loan is simple and involves showing a healthy financial statement and the track record to prove that you have the confidence to fully repay your loan.

To meet the criteria, the borrower must have the following:

  • A good credit rating: It is more difficult to get approved for a loan if you have bad credit. 
  • Evidence of good trading history via the provision of clear audited accounts, preferably for the current trading period, along with a previous couple of years.
  • A clear business cash flow forecast for the next few months will greatly help your chances of approval acceptance.
  • At least the last 3 months of bank statements.
Unsecured Business Loans.
Businessperson Calculating unsecured business loan interest rates

What you need to know about Unsecured Business Loans

Interest rates on unsecured business loans are often higher than for secured loans, due to the extra risk involved in granting the loan. However, this can also depend on a credit check to establish your credit rating. 

That being said, this financial vehicle can be inexpensive compared to other options.

The repayment term will often be limited to a shorter duration than for a secured loan, because of the larger repayment amortization required and due to the higher risk.

When seeking an unsecured business loan it is important that you have the income available to make payments over the life of the loan.

We can help you to calculate the best rate and find you a reputable lender who can offer you the best rates.

Which type of loan is right for your business

Types of Unsecured Business Loans

Benefits of Unsecured Commercial Loans

There are several types of unsecured loans. Coates Finance can advise on matching the loan type to your business.

Coates Finance will always provide you with full transparency and be unbiased to the lending solutions we provide. We’ll work to achieve the ideal outcome for your business, without having to rely on assets that you either don’t possess or which you don’t wish to use as security.

Other types of loans which don’t require collateral include;

  • Business credit cards
  • Business term loans
  • A business loan with a personal guarantee
  • Merchant cash advance
  • Receivables financing
  • A business line of credit

“Hit” the Apply For Finance button or complete the form below.

Contact us today if you need assistance and would like to discuss the various types of short to long-term unsecured business loans.

Know the pros and cons as well as the difference

Secured Vs Unsecured Business Loan: The Risks and the Benefits

Unsecured commercial loans have always been of lower risk to the borrower and of higher risk for the lender, because of the possibility that the borrower could default with no means of repaying the debt. 

Many lenders will look at the amount you wish to borrow relative to the turnover of the business, i.e. the overall ‘gearing’ of a business is taken into account. 

For the majority of the lenders we deal with, the maximum unsecured loan is around £5000,000.

However, if a company has a high enough turnover and shows a consistently good profit, much higher sums can be obtained.

The benefits of an unsecured loan include:

  • Quick turn around as no valuations or legal charges required.
  • No Assets required
  • Low initial payments
  • Fixed monthly repayments

The downsides of an unsecured loan include:

  • The business needs to show good trading accounts
  • A good credit score is required
  • Higher interest rates than secured loans
  • Shorter terms are available than secured loans, usually from 1 to 5 years.
Unsecured business loan. Man on phoneman
Unsecured business loan - Businessman on phone applying for finance

best unsecured business loans

apply for unsecured business loan

Here is how you can start the process and apply to get your Unsecured Loan Agreement in place.

Before we can successfully process your application, there are a few requirements that your business must have in place. 

Here is a list of the basic criteria for unsecured business loan:

  • Applicant must be a Limited Company or Limited Liability Partnership
  • The company must be based in the UK
  • Company MUST NOT have any CCJs

If your business passes the above criteria, you’re on your way to pre-approval. Now, all that you have to do is complete the application form so that we can verify some of your credentials to see if you qualify to work with us.

Complete the short form below to go through our pre-approval process where you can speak to one of our knowledgeable finance professionals for a FREE quote.

Working With You To Grow Your Business​

Why Choose Coates Finance?​

Key benefits of working with Coates Asset Finance

  • Fast decision: Get a fast and responsive decision of an offer in 24-48 hours without having to approach your bank, so you can spend more time growing your business.
  • Simple Process: Short, easy-to-complete application forms without the complicated jargon so you fully understand the terms of your agreement
  • Personalised Solution: Obtain a cohesive solution to your unique financial circumstance and raise the cash to purchase the assets you need.
  • Cash Release: Fund your growth with the with £2000 - £500,000 that we can help make available for you to scale your business.
  • Specialised knowledge: Draw on our years of practical expertise in a variety of sectors to ensure you achieve your desired funding solution
  • Full Transparency: We work with a number of lending partners and will provide independent impartial advice so you always get the best deal and the best rates
  • Pay in instalments: Spread the cost of your purchases over a period of time that’s right for you; 6 month - 60 months
Fast decision
Get your finance offer in 24-48 hours. Short, easy-to-complete application forms
Personalised Solution
Obtain a cohesive solution to your unique financial circumstance and raise the cash you need
Cash release
Fund your growth with the extra money that we can help make available for you to scale your business
Specialised knowledge
Draw on our years of practical expertise to ensure you achieve your desired funding solution

Get Started

Partner with Coates Finance

Here Is What We Need To Get Started With Your Application For A Unsecured Loan

Fast Finance in 3 Easy Steps

Our friendly team of experts are waiting to assist you and your company with an application for a unsecured business loan.

We’ll help you finalise a solution that meets your needs, and take the hassle out of the decision-making process so you can spend more time on what matters to you most – growing your business.

We have streamlined the application process and made it super simple to apply for the funding you need.

Complete the short form below and let’s get started today.

Complete the form below and speak to one of our knowledgeable finance professionals, who will answer your questions and guide you through the final steps to a solution that works for you.

Call us on 01904 492851 

You can also give us a call if you need immediate answers to your questions. Our friendly experts will happily answer any questions you may have before you begin your application.

Lines are open
9:00am – 5:30pm Monday to Friday
(excluding UK bank holidays)

3 steps to success

We'll Help You Every Step Of The Way

Follow the simple 3 step process to finance your business today.

Once you have completed the first step, we will get you on a call to answer any more detailed questions you may have and move quickly towards getting your financial requirements successfully approved

01

Complete the Form

Complete the simple form below and apply online for the amount you need to grow your business

02

Receive Fast Approval

We will process your application and aim to get you approved for your desired amount in 24-48 hours

03

Get Funded

Congratulations!

Now you’ve been approved, you can acquire the assets for you require to grow.

Let's Get Started

All you need to do is complete the form and submit your application to get started today

  • Partner with one of the UK's leading finance solution providers
  • Get sector specific solutions from the "smartest people in the finance industry"
  • Apply in minutes and see funds in your account in as little as 48 hours
  • Access funds from £2000 - £500,000
  • FREE tailored quotation with no obligation

Get your FREE business finance quote today

Get your FREE business finance quote today

Complete the form and submit your application to get started today