What is Unsecured Finance?

If you are new to unsecured finance, here is a quick explanation of what unsecured finance is and how it works.

An unsecured business loan allows you to borrow without having to secure the loan against any business assets, such as property, equipment or machinery. These loans are a relatively simple - and fast - way to get an affordable cash injection if your business lacks assets or if you don’t want to secure what assets you have against your loan.

An unsecured business loan provides businesses with upfront capital without requiring security. There are many different unsecured business loan options out there, each with varying terms to suit different kinds of businesses.

Loans are repaid in monthly or quarterly instalments over a fixed time frame, and you can choose to take out a short-term loan or medium/long-term loan (i.e. ‘term’ loan), depending on business needs.