What is Fast Business Cash?

This is a convenient way to inject cash into a business whenever it is needed. The fast turnaround time and the typically short term makes a fast business cash loan an ideal option for covering short term business needs as they crop up. This type of affordable business loan is suitable for a range of companies, even those with less than perfect credit records.

Amount

£1,000 - £25,000

Funds can be in your account with a couple of days, subject to turnover levels and affordability.



Period

3 - 10 Months

These flexible loans for businesses are usually arranged for a short period of up to 10 months.



Cost

20% - 60% APR

The annualised cost for this kind of funding can vary, depending upon the exact details of the loan required. Typical rates are between 20% - 60% APR, depending on circumstances.


The information above shows the terms typically associated with a fast business cash loan. Your terms will depend on your own situation.

Fast Business Cash at a Glance

Ability to Repay Needed

The lender will assess your application using your ability to repay the money. Bank statements showing your financial situation should be available in order for the lender to assess your ability to repay.

Not Secured Against Assets

This type of business funding is not secured against a specific asset. It is, therefore, available for businesses that can meet the repayments but don't have assets to offer as security.

Used to Meet Short Term Funding Needs

A fast business cash loan is typically used to cover short term funding requirements. This means that it is often used by seasonal businesses, to pay unexpected bills and to take advantage of short-term growth opportunities.

100% Spotless Credit Record Not Needed

It is possible to apply for a fast business cash loan without having a perfect credit record. Your credit rating will be taken into account by the lender when calculating the rate to offer.

Less Established Businesses Can Apply

The criteria for fast business cash loans means that it isn't only restricted to long established companies. Even a relatively new business can ask for this type of loan.

What Are the Risks with Fast Business Cash Loans?

As with all other types of loan, it is important to be aware of the risks when considering a fast business cash loan. While no security is needed over assets, there are some other risks to take into account.

Your Credit Score May Be Affected

Failing to repay the loan on time may result in an adverse effect on your credit score. This may make it more difficult to obtain an affordable loan for your business in the future.

Early Repayment Charges May Apply

If you decide to repay the money early then a charge may apply. This information will be made available to you once a lender offers you a fast business cash loan.

Repayments May Be Higher Than With Other Types of Loan

As this is seen as a short term business financing solution, the annualised rates may not be as attractive as on other types of loans. This is worth bearing in mind when making a final decision on the most affordable business loans to choose from.

How to Get Fast Business Cash

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