GETTING A SHORT-TERM UNSECURED LOAN AS A SMALL BUSINESS
July 19 2016.



Unsecured loans allow you to borrow money for your business without putting up any assets as security. It may be that your assets are already tied up as security, or that you don’t have assets of sufficient value for the loan.


The short-term nature of the loan partly mitigates higher risk of default borne by the lender, but nevertheless this usually ends up being a more expensive option for the borrower.

Of the National Association of Commercial Finance Broker’s (NACFB) panel of 145 lenders, just 26 carry out short-term unsecured lending. So it is still a minority of lenders who will offer this service. Generally speaking, you will find it is the so-called alternative lenders who are more likely to specialise in unsecured lending.


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