Fuel Your Business Growth With the Right Funding

A business loan broker is an intermediary who helps businesses find and secure loans. They work with a network of lenders to identify the best loan options for their clients based on their specific needs and financial situations.

Brokers assist with the application process, negotiate terms, and provide expert advice to ensure businesses get the most suitable and favourable loan terms.

Business loans offer numerous benefits to a business, such as:

• Tailored Terms: Structured around your business’s cash flow, goals, and repayment capacity.
• Flexible Security Options: Quicker approval process when compared to standard bank loans.
• Faster Access to Funds: Choose between secured or unsecured facilities, depending on your needs.
• Sector-Specific Solutions: Finance designed to fit your industry’s unique needs and risks.
• Scalable Funding: Facilities that grow alongside your business’s development and cash flow.
• Expert Guidance: Brokers handle lender negotiations to save you time and secure more favourable rates.

At Union Business Finance, our bespoke loans typically range between £10,000 to £2million. However, the amount you can borrow depends on several factors, including your business's creditworthiness, revenue, the type of loan, and the lender’s policies.

Interest charged on a business loan is generally treated as a deductible business expense for tax purposes, whereas repayments of the loan’s capital (the principal) are not.

Keep accurate records of interest and any fees related to the borrowing, and check with your accountant or tax adviser for rules or exceptions that might apply to your situation.

At Union Business Finance, some of our business loans can be arranged within 24 hours, while traditional bank loans might take several weeks to process. However, please note that approval times vary by lender and loan type.

Commonly required documents for our business loans include:

• Business Plan: Outline your business and how the loan will be used.
• Financial Statements: Income statements, balance sheets, and cash flow statements.
• Tax Returns: Personal and business tax returns for the past few years.
• Bank Statements: Recent bank statements.
• Legal Documents: Business licences, registrations, and ownership agreements.

You may still apply for a business loan, even if your credit score is poor. However, please be aware that, if approved, you may be subject to less favourable terms and rates. To increase your chances of a successful application, you should look to increase your business credit score.

Not by default. We carry out an initial, desk-based assessment and will normally confirm with you before any lender is asked to run a formal (hard) credit check.

Multiple hard searches can harm a business credit profile, so we carefully target appropriate lenders and only trigger hard checks once you’ve agreed to proceed. It’s a good idea to review your business credit report beforehand so there are no unexpected issues.

Yes, in most cases you can repay your loan early. Many lenders allow partial or full early repayment, which can help reduce the total interest paid.

Please keep in mind that some agreements may include early repayment fees or notice requirements. We will explain any charges in advance and help you choose a facility with repayment flexibility that suits your business.