With a term loan, a business receives a fixed lump sum and repays the loan over a set period of time in instalments, typically monthly.
With most term loans, the interest is amortising. Click here to learn more about amortisation.
With 200+ lenders on our funding panel, we can source funding options from £5,000 up to £5m.
Security is not always required for term loans.
Security, in the form of a lender taking a charge over personal or company assets, typically property, can often allow lenders to advance more, lend over longer terms and fund at cheaper interest rates.
Unsecured loans do not require a charge over personal or company assets but often do require a Personal Guarantee from a director or shareholder of the business. Read more about Personal Guarantee’s here.
