The government-owned British Business Bank has chosen
most lenders on our panel to help businesses that need funding.
Businesses use business credit lines to borrow the money they need when they need it rather than opting to take out a fixed loan.
The lender who extends the LOC does so having evaluated the market value, expected profitability, and any risk taken on by the business. The line of credit is based on the results of this evaluation.
The LOC may be secured or unsecured. This will tend to depend on the requested LOC’s size as well as the evaluation’s results. The interest rate is variable.
Unsecured Business Credit Line
With unsecured business lines of credit, the lender attempts to compensate for an increased risk by limiting the number of funds that can be borrowed. The risk is also mitigated by higher interest rates being charged.
It is the same reason that the APR on a credit card is so high. Technically a credit card is an unsecured line of credit.
You do not have to pledge assets when you open the account and so if any payments are missed, the lender has nothing to seize in compensation.
Secured Business Credit Line
From the perspective of lenders, secured lines of credit are more attractive because they offer a method for recouping the funds that have been advanced if the borrower defaults on payment.
The benefit for individuals and limited companies of secured lines of credit is that they tend to come with higher maximum credit limits and much lower interest rates than their unsecured counterparts.
Call us or you can apply online we aim to provide you with an approval within 3-4 business days.
You can borrow from £25,000 – £1 Million.
We offer a maximum term of 5 years for the facility to be used a line of credit.
Yes, you need to be a homeowner.
No, we do not charge any upfront fee.
Funding11 is the trading name of FND11 Ltd which is registered in England and Wales with its registered office at Floor 37, One Canada Square, Canary Wharf, London E14 5AA. Company No: 11722998. Funding11 is not authorised and regulated by the Financial Conduct Authority. The loans we broker fall outside of regulation, therefore we are not required to hold authorisation by the Financial Conduct Authority. Registered as a data controller under the Data Protection Act 2018 with the ICO Registration No: ZA505754.
Address
Floor 37, One Canada Square
Canary Wharf, London E14 5AA
Telephone
+44 (0) 20 3475 9299
Email
enquiries@funding11.com
Disclaimer: Funding11 assists UK companies to access business finance, and we work with firms and their advisors. Funding11 is a broker, not a lender as a credit broker Funding11 does not provide loans itself. All the finance arrangements and quotes we supply are subject to status. Funding11 may charge you a broker fee and receive a commission from the finance provider also.
SECURED FINANCE BORROWERS SHOULD BEWARE THAT IF THEY DO NOT KEEP UP REPAYMENTS THEIR PROPERTY MAY BE REPOSSESSED.
