The total amount of your loan will depend on the specific circumstances of your business. The scoring platform looks at a variety of factors to determine the health of your business. Based on this information, Lenders may be able to provide you an unsecured loan amount up to $150,000.
We know growing your business is important, so we will work hard to get money to you as soon as possible. If you apply before 4pm on a business day and your application is approved, we can usually have money in your account the same or next business day.
Interest rates vary depending on the age of the business , management experience and term of the loan. As a starting rate unsecuried business loans start from 9.9%
Lender considers the health of a business to determine creditworthiness. For loans up to $150,000 no security is required to access funds. If you continually meet your loan obligations (as detailed in your loan contract document), security will never be required. For loans of over $150,000 Lenders takes security in the form of a charge over assets. Lender does not generally take a mortgage over a borrower’s home.
A Business Loan can be used for almost any business purpose – including for growth, to take advantage of an opportunity or to support cash flow. For example, it could be used for business renovations, marketing, to purchase inventory or new equipment, as general working capital and much more.
You can apply for a Business Loan in as little as 10 minutes online or over the phone. Depending on the time of day you apply, approvals can be achieved “same-day” with funds in your account within 24 hours. Traditional business loans reference an interest rate per annum plus other fees and charges. A Business Loan details the total amount payable upfront including any interest, fees or charges. This is then broken down into either a daily or weekly repayment figure.
FWRD facilitates unsecured loans from $3000 to $300,000. The trems of these loans range from 3 months to 36 months.