Loan Library
Apply for unsecured business loans through LoansOne with no Necessity for any security.
Whether you are a business owner whose company has just started blossoming or an enterprise established for years, unsecured business loans will offer you the required growth opportunity. LoanOne helps the borrower find the best financial solution with the lowest competitive interest rates and fees. It will assist you in making your business thrive. Unsecured business funding will help the borrowers to meet different needs with no necessity to submit any property or asset as collateral. These funds come with various features and benefits, and the borrower can use them for both small and big companies.
Features of Unsecured Business Funds
The different features of unsecured business funds are as follows.
● Rate
Most of the unsecured loans come with a fixed interest rate. This rate is fixed for the term of the loan, with payments made daily, weekly or monthly.
● Term duration
The loan length can vary from time to time according to the borrower requirements. If you have applied for a short term unsecured loan, the terms available are one month to up to 2 years.
● Amount of funds
LoansOne can arrange a loan with a minimum of 2000 dollars to a maximum of 500000 dollars. The amount is dependent on the turnover and business capacity to repay the funding.
● Frequency of Repayment
The repayment frequency depends on the loan type the borrower will select. They can pay back the unsecured loan option daily, weekly, or monthly.
● Early Repayment
It is one of the best features of an unsecured business loan where you can pay back the fund to LoansOne early. However, this feature is not available on every business loan and might have to pay additional charges for early repayment.
● Redrawing facility
Sometimes there can be a situation where the borrower has made the repayments but needs the money back for some other emergency. Some Unsecured business loans come with a facility of redrawing the funds offering you immense flexibility.
For What Purpose can you Use Unsecured Business Funds?
Sometimes the running costs of a business can be quite high, and you can never predict when you will need the additional cash flow. Typically unsecured business funding will deliver the most advantages if the loan is going to benefit your business operations. Below we have shared some ways you can use unsecured business funds.
● Buying Inventory
Maintaining inventory is one of the highest expenses for any business. Thus whether you need new stock or want an opportunity for purchasing a large amount of stock at a reasonable price, unsecured business loans will deliver the quick cash injection your business will need.
● Business Expansion
Does your business need more space for expansion? Unsecured business funding will offer you the opportunity for growing your business and ultimately give more profit to the business owners.
● Purchasing new machinery or equipment
For most business owners, buying new equipment or machinery to replace the old ones with new products is inevitable. Unsecured business funds will be the bis another great option for this.
● Appointing new employee
The business model might suffer if you do not have enough staff to run your operations. Appointing new employees will ensure that your business runs smoothly . It will have an outstanding effect on the total productivity of the company.
Advantages of Unsecured Business Funding
The primary benefit of unsecured business funding is the borrower does not need to secure the funding against an asset or a property. Usually, the borrower has to submit their car, residential property, business equipment or any other asset as collateral against funding, but not for this loan.
The interest rates are slightly higher for the unsecured loans compared to the secured ones, but still the former is a better funding option for any business purpose. But before applying, always check the different features, fees, and interest rates on the loans. The interest rate for this loan type is dependent on the borrower’s credit history, loan duration and amount.
The application process for unsecured business loans through LoansOne is also simple. So, fill out the form, talk to our financial specialists and get the funds.
For more information, please get in touch with us on 1300 524 472, or take 60 seconds to apply now to see if you qualify.
