Business Loans

Boost Capital business loans are easy and speedy to obtain, are not subject to the same stringent restrictions as traditional bank loans and offer all important flexibility to small business owners.

There are a whole host of reasons why a company may consider seeking a business loan. They may need to cover extra finance for stock, refurbishment, marketing, staff, expansion, equipment or just for a boost in cash flow.

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How to Get a Business Loan

Traditional lenders often make small businesses jump through a lot of hoops in order to get any financing. They make it so hard and time-consuming to get a business loan that many business owners are forced to let their company go without the funding they so desperately need. At Boost Capital, we understand how tough operating a small business can be. We’ve been industry leaders for over 16 years, have helped over 22,000 businesses and funded over £1.6 billion across the UK, US and Canada.

That’s why we provide a quick and easy application process that you can complete in just 30 seconds and then get back to running your company.

Industry Leaders

How To Apply For A Business Loan

All you need to do to get smart, flexible funding from Boost Capital is to follow these simple steps:

Online business loan application
Complete our online application or give one of our friendly staff a call

You’ll just need to answer some simple questions regarding things like your time in business and turnover.

Fast Business Funding
One of our dedicated relationship managers will then be in touch with you straight away
After being approved for funding, your finance can be in your account within one business day

It will then be immediately available to spend on any business use.

How to Qualify

Our simple application process isn’t the only way we make it easier for small businesses to get the funding they need. Our business loans are also available to a far wider range of companies than would be able to get a loan from traditional lenders.

Where banks perform a near-forensic analysis of bank statements, filed accounts, trading history and more, we take just a few key factors into account when deciding eligibility.

Possible Uses for a Business Loan

Once you have been approved for and received your Boost Capital business loan, the funds are available to use as you see fit. You are, after all, best placed to know what your business needs.

The following are just a few examples of how our customers have used business loans to grow their business

Purchasing additional stock
to cater for busier periods
or to benefit from better terms
when buying in greater bulk

Paying for a new premises
or covering other costs related
to relocating

Investing in staff training,
especially if a business
is looking to diversify

Injecting funds into the
business for marketing
purposes and in support
of market growth

Buying or upgrading plant
and machinery to improve
efficiency or to increase
a company’s output

Accounting for and leveraging
against seasonal fluctuations
in turnover

Smoothing out cashflows,
and in doing so easing the
impact of debtor and line
item payments from the business

Eligibility & Criteria for a Business Loan

At Boost Capital, the overall health of your business is the main basis for eligibility for a business loan. There are just two main upfront thresholds which all companies must meet, in order to be eligible for a Boost Capital business loan:

  • Over two years history of trading
  • An annual turnover of greater than £70,000

We will also perform a personal credit check, but you don’t necessarily need good personal credit in order to apply for one of our business loans. There is also no requirement for you to put up property or assets as collateral. That means that even if you rent your premises and plant, you could easily still be eligible for a Boost Capital business loan. To find out, you can simply complete our 30 second online application.

Am I eligible for a Boost loan?

Answer 2 questions below to find out.
Still have a question? View our FAQs or speak to our business loans team on 0800 138 9080.

Have you been trading for over 2 years?
Do you have annual turnover of > £70,000?

Documents Required for a
Business Loan

Unlike many traditional lenders, we do not ask for reams and reams of documentation before we will approve your funding. Typically we will request only the following three documents in support of your business loan application:

  • Application form
  • Proof of your identity
  • Business bank statements from the past three months

Flexible Business Loans

For many companies, flexibility is key when it comes to financing. The nature of small business is such that long term business loans with rigid repayment terms just simply do not fit the bill. As our business loans are tailored specifically for small businesses, we keep flexibility at the forefront of our minds throughout.

Once you’ve received your financing, you have the flexibility to use it in anyway you see fit. What business use you put your funds to is completely up to you. If you find you no longer need the financing, you can also pay it off in full for no penalty, and potentially with an early repayment discount. In addition, if you need more finance you can quickly and easily top-up or renew your loan with Boost Capital.

Unsecured Business Loans

Companies in many sectors, most notably the retail and hospitality industries, do not have many high value assets. Those firms tend to routinely rent their premises and by the nature of their business, do not own valuable machinery or vehicles. As such, they do not have the kind of assets which many traditional loans require to be put up as security.

Unsecured business loans, such as those provided by Boost Capital, provide these companies access to funding where it wouldn’t otherwise be available. Unsecured loans, after all, differ from the traditional secured versions in a handful of crucial ways.

Main Differences Between Unsecured & Secured Loans

  • Secured loans require a company to put up their premises, machinery or other high value assets as collateral
  • The assets put up as collateral for secured loans can be forfeit if a company defaults on the loan
  • Unsecured loans require no such collateral to be put up against the loan, so are more viable funding options for companies with few high value assets
  • Smaller businesses and companies within industries such as retail and hospitality are far more likely to be able to get approved for unsecured loans

Short
Term Loans

As well as needing funds quickly, small businesses can often require financing for just a short period of time. They might wish to account for a seasonal fluctuation in turnover or to cover a bill which is due to be paid just before their next big invoice gets settled.

In those circumstances, a short-term financing option is ideal. There is no need, after all, to commit your company to paying off a loan over a number of years if you’ll have the means to do so in a few months.

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How Long Are the Terms on a Boost Capital Business Loan?

The repayment terms for Boost Capital business loans are individually tailored to your company’s needs. We customise the terms of your loan to fit your individual cashflow model and you will know all of the details of those terms before receiving your loan.

Boost Capital business loans are repaid via fixed amounts taken from your business bank account daily, via direct debit. These regular, smaller payment amounts are far more suitable for small businesses than large and inflexible monthly payments. We can facilitate business loans with terms of between 4 and 18 months in total.

Boost Capital Business Loans vs Loans from Traditional Lenders

Boost Capital Business Loans

  • Most businesses eligible
  • Easy online application
  • Typically just three documents required to support an application
  • Funds are free to use as you see fit to support or grow your business
  • No assets required for security for the loan
  • Capital can be available to you in as few as one working day
  • Repayments customised for your company’s individual cash flow model

Traditional Bank Loans

  • Many businesses turned down based on their industry or other general characteristics
  • Long, drawn-out application process
  • Lots of supporting documentation needed to be compiled and provided before approval
  • Restrictions placed upon the use of funds
  • Company assets do routinely have to be used as collateral against loans
  • Funds can easily take a number of months to become available
  • Rigid, fixed monthly repayments

Speak to a member of our business loans team on 0800 138 9080

More businesses than ever before are looking to Boost Capital for their business financing needs. To learn more about how our UK small business loans work or to explore the business financing options that are available to you, contact us today!
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