Table of Contents
- 1 Welcome to Fast Forward Finance
- 2 Competitive Business Loan Rates
- 3 What are Business Loan Rates?
- 4 What does APR mean?
- 5 Common Loan Fees
- 6 What’s the Typical Interest Rate for Business Loans?
- 6.1 Short-Term Business Loan Rates
- 6.2 Cash-flow Business Loan Rates
- 6.3 Tax Business Loan Rates
- 6.4 VAT Business Loan Rates
- 6.5 Equipment Business Loan Rates
- 6.6 Property Business Loan Rates
- 6.7 Development Business Loan Rates
- 6.8 Invoice Financing Rates
- 6.9 Asset Finance Rates
- 6.10 Business Lines of Credit Rates
- 6.11 Business Loan Rates for Amounts of up to £50,000
- 6.12 Business Loan Rates for Amounts of up to £100.000
- 6.13 Large Business Loan Rates
- 6.14 Unsecured Business Loan Rates
- 6.15 No-credit-check Business Loan Rates
- 7 Business Loan Rates Calculator
- 8 Some of the Sectors we lend to:
- 9 How does the Application Process for a Business Loan work?
- 10 Why Choose Fast Forward Finance for a Business Loan?
- 11 How to Apply Online for one of our Business Loans
- 12 Want to Check your Eligibility Before you Apply for one of our Business Loans?
*Rates and fees may need to be amended to reflect current market conditions.
Welcome to Fast Forward Finance
Fast Forward Finance is a business loan broker who works with companies to help them get the finances they need to grow their business.
As a business owner, when additional funding is required you often need to act quickly. That’s why we work with our network of lenders to ensure that the borrowing process is as clear as possible.
Here at Fast Forward Finance, we understand how important funding can be for any firm’s aspirations.
If you need funds to tide your business over in the short-term, don’t hesitate to contact a professional broker like Fast Forward Finance. We may be able to work out something for you.
A Trusted Capital Source for over Xnumber of Businesses
The Fast Forward Finance team are experts in sourcing out and securing suitable funding deals for each applicant.
Our finance advisors strive to be the best in the business, combining a friendly and supportive service with in-depth knowledge of the world of business loans, making us one of the trusted capital sources for countless number of businesses in the UK.
You can trust that our team will endeavour to take care of you all the way from the application stage to the funding stage. We value the needs of your business and look forward to any questions that you may have about the process. Get in touch today.
A Proven Track Record in Providing Business Loans
Here at Fast Forward Finance, we have an impressive track record of working with businesses to find the right loan product. Our network of partner lenders offers a diverse product range and can tailor a financing arrangement to suit most business financing requirements.
We are committed to supporting the growth and success of UK businesses, regardless of the commercial and economic situation. Whatever your business funding needs, we may be able to secure a suitable loan product that is custom-made for your business. Find out how here.
Our Business Finance Specialist Team
Whatever the financing needs of your business are, our dedicated team of business loan specialists have what it takes to support you and meet your unique needs.
Our talented team has built up a strong lenders network and over the years, cultivated good working relationships with a cross-section of lenders, so we are best positioned to offer business loan guidance and brokerage services.
We can use our industry knowledge and influence to negotiate on a case-by-case basis, the best loan deals for our clients.
We always aim to secure loan deals with competitive interest rates, and realistic and affordable fees. Contact us today to talk more about your business loan needs.
Competitive Business Loan Rates
As business loan experts, we understand that every business is vulnerable to periods of financial hardship, but we believe this should never impact your business’ growth or success.
To this end, a variety of loans are always available, which can provide you with excellent business loan rates and a quick cash injection when you need it most.
Now, you can grow your business with the right loan while getting the best rates, fees and market benefits.
Depending on the type of loan and the lender, the loan will have to be paid within months or years, but the business loan rates can be reduced by repaying early. Fast Forward Finance could give you competitive rates for business loans.
Our competitive business loan rates start at just XXX% a month, with no early repayment charges. If your business can repay early, you’ll only need to pay interest charges based on the duration of the loan.
What are Business Loan Rates?
A business loan rate is a percentage of your total loan amount, which is regularly charged by a lender.
Most business loans are charged at an annual interest rate (AIR), which means that this percentage is valid for a year’s loan balance.
Some short-term loans do, however, come with a monthly percentage rate that applies once a month to the balance. For lenders, the repayment of the amount you borrow is not enough: they want something extra. This is referred to as the interest, and is in essence, the profit that lenders will receive to let you use their money. You can think of it as the price that you are paying to borrow money.
Business Interest Rates Explained
Interest is the loan reward, and the borrowing cost. The rate of interest is the rate of percentage charged on a loan or paid on savings.
Essentially, interest rates determine the amount paid to lenders by borrowers for holding money. Usually these rates are expressed as a percentage of an amount paid for a one-year period, but they are also sometimes calculated over shorter periods.
Interest rates offered vary from product to product, and from lender to lender, with several factors contributing to the interest rate.
Some of the more common factors that can influence interest rates are the loan amount, the loan term, credit rating of the borrower, and value of security.
What does APR mean?
APR or annual percentage rate refers to the total cost of one year’s borrowing. Importantly, it comprises the standard fees and interest that you will have to pay.
For example, if you borrow £10,000 to buy a car over a 3-year period. A 5.5% APR would include your annual interest rate as well as the standard loan fees payable. You would then pay approximately 301 monthly repayments, totalling £10,848.60. This includes the £10,000 that you borrowed, and £848.60 in interest and fees.
Interest rate is often confused with APR but they aren’t quite the same. Interest does not include arrangement fees or other funding which often comes with a loan. The majority of loan providers calculate your APR based on the amount you borrow, the loan term (time you have to repay the loan), and your financial history.
Common Loan Fees
The fees related to the loan will depend on the type of financing you require. The most common form of business loans is fixed term loans, which may include application fees, documentation, check processing, late payment, loan prepayment, and payments returned. Here are the common fees that you should expect to pay when you take out a loan:
Origination or arrangement fee – Covers the costs of processing your loan.
Withdrawal fee – The fee for each transaction performed with your card (for a debit card loan).
Late payment fee – For late repayments after the grace period.
Broker fees – A broker fee may be added by the lender but the broker is paid out of the arrangement fee in most cases.
What’s the Typical Interest Rate for Business Loans?
The average interest rate for small business loans varies according to the type of loan product, the lender and your borrower qualifications. Most business loan rates, however, begin at XXX% per annum. Broken down, they are:
Short-Term Business Loan Rates
Taking out a short-term business loan means that you will be able to pay off your balance quickly, but bear in mind that your repayments are likely to be higher than if you chose a medium to long-term loan.
Loan terms typically range between 90 and 120 days and interest rates are also often notably lower, so it is worth making sure you get a good deal. Let us work with you to get the best possible rates. Get in touch today.
Cash-flow Business Loan Rates
Interest rates for cash-flow business loans can range from 1.5% to 4% APR. The interest rate varies depending on how much you borrow, the term of the loan and the overall health of your business.
Fast Forward Finance may be able to arrange a more flexible cash-flow loan if you need some extra cash to buy inventory, pay workers, and fund business expansion, or just to avoid cash-flow problems.
Tax Business Loan Rates
Whatever type of business you operate, a business tax loan may be obtainable to help you meet your tax responsibilities.
There are plenty of flexible loans available which will allow you to pay your tax bill and repay over fixed monthly or quarterly payments ranging from 6 to 12 months.
At Fast Forward Finance, we may be able to secure tax business loans designed to meet your repayment capabilities by working with a variety of lenders that specialise in business finance.
VAT Business Loan Rates
No matter what type of business system you operate, as long your business makes Vatable sales in excess of £85,000 a year, you will have to register your business for VAT.
It is important to be able to handle these payments, without jeopardising your cash flow so that your business is not interrupted. A VAT loan can come in handy here.
VAT loans interest rate typically fall within the range of XXX% to XXX% per annum. Get in touch to compare rates.
Equipment Business Loan Rates
Buying new equipment is essential in many situations to ensure that your business is able to grow and make a profit. Unfortunately, equipment can be a pretty expensive investment that many companies struggle to pay for up front.
There are certain forms of financing of business equipment that can improve tax efficiency, such as leasing and sale-leaseback.
Instead of buying an item that sits as an expensive purchase on your balance sheet, you will be paying an affordable monthly expense.
Many lenders will be able to cover 100% of the cost of the equipment, although you may be required to pay a 20% down payment depending on the circumstance. The average equipment financing interest rates range from a fixed rate of 8% to 30%.
Property Business Loan Rates
Financing for property development is usually in the form of a short-term loan that is used to develop a new building project or to rehabilitate an existing property. Lenders may be able to loan up to 70% of the property cost, and terms can be up to 24 months.
Interest rates typically start at 0.44% per month, and terms range from 3 to 6 months.
Property business loans can be used for a variety of property development as long as it relates to your business. You can get the loan to develop property used by your business, renovate an existing business property, purchase a buy-to-let, or even buy property in an auction. The only restriction is that the loan is used for property that can bring in returns one way or another.
Development Business Loan Rates
It can be difficult to fund the expansion of your existing company when you don’t know how to raise the needed funds.
A business development loan will benefit you by giving you the money you need upfront, allowing you to invest in the future of your company and putting your plans into action.
With a business development loan, you can take out a loan for between 12 months to 5 years and spread the payment over an approved period of time. Business development loans come with rates ranging from 1.9% per year. Get in touch to compare rates
Invoice Financing Rates
Invoice financing helps you to get cash in advance secured against unpaid invoices, rather than waiting for the client to pay the bill, which may be several weeks away.
Fees and charges can differ based on a number of different factors including the type of business, creditworthiness, size and value of invoice and the invoice financing facility you want to use.
Typically, it will cost between 1% to 5% of the invoice value. This is known as the factor or discount rate. This varies according to the volume and value of the invoices issued every month. Businesses that handle a small number of high-value invoices would usually get a more favourable rate than those that issue lots of low-value invoices.
You may also incur a service fee or a standing fee ranging from 0.5% to 3% or more of the annual turnover. That fee covers all account-related administration, such as credit processing and management.
Asset Finance Rates
This can be very expensive to upgrade equipment or plant and machinery and therefore the more urgent the situation, the more difficult the cash-flow problem.
Asset financing provides companies with access to the new equipment, vehicles or technologies that would otherwise be out of their reach.
At Fast Forward Finance, we may be able to access funding from XXX to XXX to help your business acquire essential assets. Asset funding is usually offered between 1 and 7 years – in some cases longer for exceptionally high value assets; this duration provides ample time for the loan company to recover the equipment acquisition costs plus interest. Our lenders offer options for fixed-rate asset financing from as little as 3% per annum. Depending on the lender chosen, the type of asset and the business that is applying, the rate offered will vary considerably. Contact us to compare rates.
Business Lines of Credit Rates
A business line of credit is basically a revolving loan that offers a fixed sum of money for your company. It can be used for daily costs, and capital needs as and when necessary.
In addition, the lender may charge an up-front contract or commission fee. The company starts repaying the loan with interest after drawing down the funds. Interest rates are widely variable, but average rates start at 1.9% with no early repayment fees.
Business Loan Rates for Amounts of up to £50,000
Identified an opportunity to develop your business, but don’t you have the cash to benefit from it? Your answer could be a £50,000 business loan.
You may be able to borrow £50,000 over 24 months at a cost of 8.4% per annum.
Lenders may opt to protect loans of amounts like £50,000 and above against a company or personal asset, such as property or equipment. Just like with a mortgage, the lender will sell the asset to recover any damages if you fail to repay the loan.
Business Loan Rates for Amounts of up to £100.000
A £100,000 business loan will benefit you if a business opportunity presents itself but you need a large cash infusion to take advantage of it.
Lenders may require a personal guarantee where one or more directors make a legal pledge to be personally responsible for a loan if the company fails to pay back in addition to a security that can cover the value of the loan.
Typical APRs range from 4.5% to 28%.
Large Business Loan Rates
Completing a major order is an opportunity that most businesses will not want to give up on. To this end, most business owners have to take out large business loans to handle expenditure such as managing the additional staff, inventory, or production costs.
The amount of money involved in a large business loan will influence the interest rate. For example, the bigger the loan, the lower interest rate. Small business loans tend to have higher interest rates. Typical APRs range from 1.2% to 4.2%.
Unsecured Business Loan Rates
An unsecured business loan gives UK companies a simple funding solution; you may borrow up to £500,000 or more without having to protect the loan with company assets, such as land, buildings or equipment.
You will have faster access to an unsecured loan, because there are less checks and legalities to go through than with a secured loan.
Usually, interest rates for unsecured loans range from 1.5% to 3% depending on the loan term, the amount you borrow and your business profile.
No-credit-check Business Loan Rates
A no-credit-check business loan is a form of business finance where the credit score is not considered by the lender during the application process. This is usually short-term lending, so it may be more expensive than other alternatives.
Unfortunately, businesses with no or poor credit will usually pay a marginally higher rate than those with a better credit score. Nonetheless, the rate accepted will ultimately depend on the additional protection that you will give the lender.
No credit check loans have an APR ranging from 90% to 600%. These rates differ depending on the lender and the terms of the loan.
Business Loan Rates Calculator
Taking out a small business loan may help kick start or develop your business, but before you borrow money, it is important to know what you are getting into.
Our loan calculator for small businesses will give you an idea of how much it would cost to take out a loan. Use the form provided to see how much your monthly repayments and fees may be.
Some of the Sectors we lend to:
- Retail businesses
- Bars and restaurants
- Hotels and B&Bs
- Hair and beauty salons
- Dentists and opticians
- Auto garages and MOT centres
How does the Application Process for a Business Loan work?
It all starts when you fill out an online application. You can do it in just a few minutes. This application will ask you basic questions about your company, your credit history and yourself.
The information provided will help us understand your loan needs and determine a suitable loan product for you.
When the lender has the details they need, the underwriting process will begin. Here the lender can decide how risky it is to give you a loan. If they’re unsure about anything, they might ask for more details.
They will either accept your application, or deny it. They can, in some cases, set down additional stipulations that you will need to comply with to be accepted.
Whatever the case, you can count on getting a fast decision, so that you can know the next step to take.
If your loan application passes through the underwriting stage and your application is approved, the lender will provide you with an offer.
It will typically consist of how much the lender is willing to let you borrow along with the total amount of debt, interest rate and a timeline for repayments.
It will also contain any stipulations that may have been introduced during the underwriting process. It is up to you then to accept or reject the loan deal.
If you like the offer from the lender, you can move ahead by getting in touch with your dedicated account offer to indicate your acceptance and sign the loan contract. This is an important process before the approved funds can be released.
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If everything checks out, the lender will transfer the funds to your account within a few hours. Because our lenders believe in fast funding, you can get the money very soon after approval.
Why Choose Fast Forward Finance for a Business Loan?
Unsecured Loans Available
Unsecured loans are difficult to obtain because lenders prefer when borrowers secure the loan amount against property. However, at Fast Forward Finance, we may be able to work out an unsecured loan product for you under the right circumstances.
Note that unsecured loans tend to come with higher interest rates and fees.
No Early Repayment Fees
Even though business loan terms are decided for a particular number of months or years, should your financial situation change, you can repay the loan and clear your debt long before the end of the loan period, without attracting any early repayment charge.
Flexible or Fixed-term Payments
With the loans we organise at Fast Forward Finance, you can choose between a flexible repayment system or a fixed payment. It’s all up to you and lenders are only interested in making sure you pay up the loan before the end of the loan term.
At Fast Forward Finance, we work only with lenders that understand the dynamics of operating a business. Because they know that business needs funds quickly in order to operate, you can count on getting the funds you applied for in very little time once the loan has been approved.
At Fast Forward Finance, the lenders we work with are more interested in the viability of your business, loan security, and how you intend to repay the loan rather than in your credit situation or financial circumstances. This means that you can expect fair decisions on all loan applications.
We’re Easy to Work With
The Fast Forward Finance team strives to be easy to work with. We understand business dynamics and use that knowledge to offer a skilled, courteous and responsive service working with you to find the right financing option.
Stellar Customer Service
We consistently aim to provide the most excellent and exclusive customer service when it comes to assisting and providing fast and versatile business loan products.
We strive to be one of the UK’s leading and renowned business loan brokers through our relationships with our clients.
Transparency Every Step of the Way
We at Fast Forward Finance agree that the business of business loans should be fair and clear.
That is why we endeavour to be clear and transparent in all our dealings with clients and lenders. Working with us, you can be assured that there will be no unpleasant surprises anytime in the future.
Dedicated Account Executives
At every stage of your working with us to secure the ideal business loan, you will have your very own dedicated account executive who will be your contact person and provide you with all the help and assistance you need.
How to Apply Online for one of our Business Loans
Applying for any one of our business loans online is as seamless and as hassle-free as possible. The application process takes only a few minutes and you can sit back and wait to hear from us.
Our online application process has the following features:
Applications for business loans only take minutes with our simple qualifications. As long as you have a business operating in the UK, have sufficient equity in your security and a good plan to repay the loan, you stand a good chance of getting business financing from our partner lenders.
Easy Application Requirements
One of the benefits of using a business loans broker like Fast Forward Finance is that you avoid all the lengthy paperwork and bureaucracy that conventional lenders are known for. We try to make every aspect of our process easy. And if you encounter a problem, we are always on hand to provide help.
Fast Forward Finance works with lenders who quickly evaluate loan applications and provide near-instant approvals. This means that you can know your loan status within a few hours of application.
Want to Check your Eligibility Before you Apply for one of our Business Loans?
Want to check and see if you are eligible for a business loan?
You can check your eligibility and apply for a business loan by signing up with fast Forward Finance and using the simple eligibility form provided. It is quick, simple and, above all, free.
We’ll be happy to answer any questions you may have about applying for a business loan. Get in touch with us on PHONEXXX or by sending an email to EMAILXXX. We look forward to hearing from you.