Everything You Need To Know
Loans For Business Emergencies Short-term Finance When You Need It
Whilst owning a business is an ideal many of us dream of, it’s not always plain sailing. Money related problems can crop up all too easily, despite very careful budgeting and financial forecasting. Without any warning things can go wrong - equipment can breakdown, sales can take a hit, andd because most small businesses naturally tend to have a limited cash flow, dealing with these unanticipated issues alone isn't easy.
The world (particularly the business world), is an unpredictable place. It can feel incredibly frustrating and disconcerting when everything isn’t quite going to plan and you suddenly find yourself with serious cash flow problems. Remember that you aren’t the only business owner out there who is struggling, and there is plenty of help at hand. SME Loans offers straightforward, fuss-free business loans which can provide your business with quick funding when it needs it the most.
Loans For Business Emergencies
Here at SME Loans, we provide emergency business finance through our unsecured business loans. As our loans are unsecured, there is no need for you to secure the provided funding against your valuable assets if you do not wish to do so. This type of business loan is flexible and offers many great benefits to borrowers.
Once your application has been approved by one of our trusted lenders, you can expect to see funding within your bank account in as little as 24 hours. Our speedy, emergency business loans have proved to be a real life-saver for businesses in crises. It’s fair to say that more traditional lenders are unlikely to be able to provide your business with such prompt funding, as the application and approval processes tend to be far lengthier and extensive. Waiting around weeks and weeks for a loan is the last thing you need when you have financial issues which need to be addressed immediately.
By choosing to borrow with SME Loans you can expect to be offered the very best rates, helping to keep the amount you repay as low as possible. UK businesses can receive between £1000 to £500,000, and the repayment plan will be tailored personally to you, with the best interests of business’ growth at heart.
After receiving your loan, you will then be expected to make repayments on a fixed monthly basis, over the course of 1 to 5 years. Our short-term business loans provide the perfect solution for businesses in need of emergency finance.
How Can Short-term Finance Help Your Business To Recover?
By opting for a business loan, your business will receive a quick cash injection that can help it to rapidly recover its cash flow and maintain financial stability. This influx of cash can be utilised in whatever way your business requires to solve its financial emergencies - from the replacement of broken down equipment to paying off unanticipated bills to investing in further staff training. There are no strict limitations as to what the money must be spent on, so there are countless ways in which it can help your business to recover for its financial issues.
Financial Solutions For Business Crises SME Loans Application Process
Securing funding for your business is vital to quickly resolving any sort of financial emergency it is undergoing. SME Loans is passionate about the growth and success of businesses, and helping our customers find the right loan for them is always our biggest priority.
The speed at which we are able to provide your business with funding will help your business get back on its feet and recover any lost cash flow without delay.
Whilst getting a business loan is by far the quickest and simplest solution to your money problems, there are also many other ways in which you can work towards improved financial stability in the long-term. Managing cash flow is an incredibly important factor in the running of any efficient and successful business - although it can be easily neglected when a company is just starting out or has run into a chain of ongoing, domino issues. There are several ways to improve your cash flow over time, reducing the risk of your company encountering another financial emergency in the future:
- Push for customers to make payments sooner / on time
- Review your expenditure regularly
- Decrease expenditure where possible
- Build up a cash reserve
- Set cash flow targets
- Work hard to push sales
Our Simple Qualifying Criteria:
In order to be eligible for an emergency business loan, please ensure:
- Your business is registered in the UK
- Has been actively trading for a minimum of 6 months
- Has a monthly turnover of average card sales of at least £5,000
- Business owner is over the age of 18
- You’re a limited company or a sole trader.
A perfect credit score and excessive documentation is not required in order for your application to be approved, making it an ideal funding option for small and new businesses that don’t have a lot of time on their hands.
How To Apply For An Emergency Business Loan:
Click on the application page. To ensure we match you with the best lender, we will ask for more information about your business. Please be ready to tell us:
- The name of your business
- The number of years you’ve been in business
- Your average monthly card sales
- The amount you are looking to borrow to cover your VAT bill obligations
Next we need to find out your personal details, please disclose:
- Your title, first name and surname
- Your position in the business
- Your email and telephone number
Carefully read through the terms and conditions, if happy, click ‘get my quote’. From here your application will be processed and reviewed by one of our approved business finance suppliers, who will help you find the correct lender for your emergency business loan.
One of our account managers will be in touch by phone or email to discuss the terms of your loan or advance agreement.
Once the application has been completed and sent off it will be approved by a lender where you can then have a discussion regarding the terms of the loan. The terms will include interest rates, as well as how much the borrower will repay each month. As such, the loan is provided to you on a transparent and easily comprehended basis.
Some business owners may be asked to sign a personal guarantee, depending on the amount you are wishing to borrow and your business’ credit score. A personal guarantee is a legally binding contract which secures agreement of the business’ owner becoming responsible for meeting repayments to the lender in the circumstances of the business defaulting on its loan repayments. By signing a personal guarantee, each party simply knows where they stand, and borrowers have a clear understanding of what is expected of them in all situations.