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Unsecured business loans

Unsecured business loan broker

Growth Business Finance arranges unsecured business loans from £200k to £2m for established UK businesses, with no charge over property or other assets, across 650+ lenders. Where security is limited, we also compare Growth Guarantee Scheme loans.

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No credit search and no upfront fee.

Reviewed by Tom Renshaw, Managing Director. Updated .

unsecured loan size
£200k to £2munsecured loan size
term-loan range
1 to 10 yearsterm-loan range
charge needed
No propertycharge needed
whole of market
650+ lenderswhole of market

What is an unsecured business loan?

An unsecured business loan is a term loan that is not secured on property or other specific assets. The lender relies on the business's earnings and cash flow to repay it, usually with a personal guarantee from the directors. Unsecured loans typically go up to around £2m and are repaid in monthly instalments over the term.

Because the lender has no asset to fall back on, pricing is higher than for secured lending, and lenders look closely at profitability, trading history and existing debt. For larger amounts, or to lower the cost, a secured term loan, asset based lending or a Growth Guarantee Scheme loan may fit better.

Unsecured does not mean no guarantee

Most unsecured business loans need a personal guarantee from one or more directors. We explain what each guarantee covers, compare lenders that cap or limit it, and look at whether a Growth Guarantee Scheme loan or a secured structure would reduce what you personally sign for.

Talk it through

Tell us what you need and we will search 650+ lenders for indicative terms, with no upfront fee.

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Unsecured business loans

How it works

  1. 1

    We review the business

    Accounts, management accounts, bank statements and what the loan is for.

  2. 2

    We match the right lenders

    Challenger banks, specialist lenders and Growth Guarantee Scheme lenders that fit your size and sector.

  3. 3

    Lenders assess affordability

    Mainly on earnings, cash flow and existing debt, not on property.

  4. 4

    You compare offers

    Rate, fees, term and guarantee terms side by side.

  5. 5

    Funds are paid

    Once the loan agreement and any guarantees are signed.

Who it suits

  • Profitable businesses with at least two years of trading and no property to offer as security
  • Technology and professional services businesses with few hard assets
  • Businesses funding growth, hiring, marketing or a new site
  • Owners who want to avoid a charge over the business premises or their home
  • Businesses refinancing expensive short-term borrowing into one loan

What lenders look at

Profitability
Consistent profits and cash flow that cover the repayments comfortably.
Trading history
Usually at least two years of filed accounts.
Existing debt
Other loans, cash advances and how much the business already repays each month.
Credit record
The business's and directors' credit history.
Purpose
What the money is for and how it will be repaid.
Directors
Willingness and ability to give a personal guarantee.
At a glance

Typical terms

Typical terms
Loan size£200k to £2m unsecured; larger amounts with security
Term1 to 10 years for term loans; unsecured loans are usually shorter
SecurityNo charge over property; a personal guarantee is usually needed
RepaymentMonthly instalments of capital and interest
Government backingGrowth Guarantee Scheme loans up to £2m per business group
PricingHigher than secured lending, priced on the business's strength

All figures are "up to" and subject to status and lender approval.

Our process

How GBF runs the process

We start with your accounts, bank statements and what the loan is for, and tell you straight away whether unsecured lending fits or whether a secured loan, asset based lending or a Growth Guarantee Scheme loan would raise more for less. We then approach the lenders most likely to say yes, compare offers including the guarantee terms, and manage the loan through to funds in your account.

  • One senior adviser from first call to completion
  • A credit paper lenders take seriously
  • Indicative terms compared side by side
  • £0 upfront fee
Related facilities

Related facilities we arrange

Business loansSecured and unsecured term loans and RCFs, £200k to £100mGrowth Guarantee SchemeGovernment-backed loans up to £2m per groupRevolving credit facilitiesA committed line to draw and repayBusiness loans £500k to £5mWho lends at this size and what they look forUnsecured business loans guideA fuller explainer for SMEs
FAQs

Unsecured business loans: common questions

How much can I borrow unsecured?

Unsecured business loans typically go up to around £2m, depending on profits, cash flow and existing debt. Growth Business Finance arranges them from £200k.

Do unsecured business loans need a personal guarantee?

Usually, yes. Most lenders ask one or more directors for a personal guarantee. Some lenders cap or limit it, and a Growth Guarantee Scheme loan can change what is needed.

Are unsecured loans more expensive than secured loans?

Yes, because the lender has no asset to fall back on. Where the business has debtors, stock, plant or property, a secured loan or asset based lending usually costs less.

How long does an unsecured business loan take?

Once the lender has the accounts, management information and bank statements, decisions can come within days, with funds usually following within a few weeks.

What is the Growth Guarantee Scheme?

A government scheme that gives accredited lenders a 70% guarantee on loans of up to £2m per business group. The business remains fully liable for the debt.

Is GBF a lender?

No. Growth Business Finance is a commercial finance broker and debt adviser. Finance is subject to status and lender approval.

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