Secured Business Loans

From A Bristol Finance Broker

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South West Loan Brokers

What is a secured business loan?

A secured business loan is for business owners who are homeowners. Assets of the business owner can be taken as security and therefore reduces interest rates. The business loan provider can secure the loan against assets such as large machinery, commercial land, or tangible high-value assets.

What Information will I need to apply for a Secured loan?

When a business starts it will be categorised as a small business and the type of loan you are eligible for will vary greatly.

An unsecured loan over a short time frame may be the best option as you need capital to start your plans off but once the business has grown there may be little requirement for further funding.

A secured long-term loan over 5 years for example may be what the business requires.

In each of these circumstances, Pinnacle will be there to talk through the options available and have seen thousands of small businesses flourish and grow as a result of business loans.

Advantages and Benefits Of A Secured Commercial Loan

The main benefit of a commercial loan is as the loan providers will deem the applicant as a lower risk this will carry a lower interest rate per month. Reducing monthly repayments and the overall interest payable over the term.

Longer-term commercial loans are accessible through secured lending as opposed to short-term loans over 12 months. Secured loans are a more structured long-term strategy.

The loan amount can commonly be higher as there is deemed to be less risk to the financier and over a longer-term. Secured loans can be a way of securing fast finance for the business. Loans can be paid to the applicant in less than 48 hours