With business loans from First Oak Capital, you can take advantage of opportunities
Arranging business loans can be the quickest way to raise cash
With a business term loan from First Oak Capital you can obtain a cash injection fast and use it for almost any business purpose.
A straightforward term loan is spread over 1-6 years with fixed interest charges and fixed monthly payments, giving you the resources you need to manage your cash flow effectively.
An unsecured business loan doesn’t always require security so an excellent credit history is needed and interest rates may be a little higher due to the risk perceived by lenders. Your turnover will dictate how much you can borrow but loans from £25k and loans up to £250k are not unusual.
TAKING ADVANTAGE OF BUSINESS LOANS
What do I need to qualify for a business loan?
This will vary between lenders but generally your business will need to have been registered for at least 6 months in the UK and have a minimum turnover of around £5000 per month. Lenders will also be interested in :
- Turnover and profit
- Last filed accounts and recent management accounts
- 3-6 months bank statements
- Payment history (eg late payments or CCJs)
- Trading history
- Directors’ credit history (lenders sometimes require a personal guarantee)
- Financial forecasts and business plan
- Your customers/clients
WHY FIRST OAK CAPITAL?
Helping Since 1994
Benefit from our 30 years of experience and expertise in commercial finance brokering
Competitive Industry Rates
Increase business growth and save money with highly competitive industry rates
Access Over 100 Lenders
Access to more than 100 lenders in the UK finance market
Funding Within 48 Hours
Once approved, funding can be provided in as little as 48 hours
FAQs
Depending on how much you need, you could be eligible for funding of anywhere between £1,000 and £15M. Though how much you can borrow will also vary from lender to lender.
There are hundreds of different banks and finance companies that provide loans for businesses and multiple different types of finance products available, eg. term loans, invoice finance, asset finance, revolving credit facilities, property development finance. For help and advice speak to one of our advisors to guide you through the process of finding the most suitable business loan and best interest rate available.
With unsecured loans, no physical security is required so these are great for asset light companies. As there is no security, trading history becomes more important and a personal guarantee may be required in order to reassure the finance company.
Pretty much anything, but common uses are for a cash flow boost, business growth, stock or asset purchase, one-off costs and premises expenses.
The application process for business loans can vary depending on the lender, but many offer online applications and quick decisions.
Interest rates on business loans can vary depending on the lender and your credit history, but UK businesses can typically expect rates between 5% and 20%.
As with all types of finance, it helps if you have the necessary documentation ready to hand before you apply. We’ll be asking you to provide your company name and type of business entity, names and addresses (last three years) for directors, records of accounts for the last two years and an explanation of how you intend to use the funds.
Simply complete our short form to get started or call First Oak Capital on 0800 066 3677
Have Business Loan Questions?
Please give our friendly team a call on 0800 066 3677 if you’d like more information on how we can help you with a loan for your business.
We’re open Monday – Friday, 9.00-5pm. Or if you’re ready to get started, click the button below.
