If you're a business owner in need of a cash injection then a business loan can provide a helping hand for your business and help it fulfil its true potential. Whether its finance required for a start-up, expansion, commercial mortgage or to stabilise your business's cashflow, there are a variety of business loans out there no matter the purpose.
Small business loans in general tend to be between £1,000 and £25,000 for a period of between one and ten years. The main two types of business loan are a flexible business loan and those that are fixed. Flexible business loans offer a finance package tailored to your business and enable you to make either monthly or quarterly loan repayments with a variable interest rate charged. Fixed rate business loans have fixed monthly repayments and a fixed interest rate.
Lending to business has seen the major UK banks criticised by the government for not lending enough to small and medium-sized businesses (SME’s). Project Merlin was set up by the coalition government and one part of its remit is to ensure that banks lend to agreed amounts as set out by Project Merlin
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