Accessing flexible and affordable unsecured loans for your enterprise is often a challenge to most companies across the globe. However, in the United Kingdom, SMEs, and other established companies have a place to run to and obtain an unsecured loan for their operations.
Merchant Money offers one of the best platforms and packages for procuring business loans for your organization. The following are the characteristics of the unsecured business loans from Merchant Money:
Merchant Money has a three-tier process that you have to follow to access their unsecured loan. The first step is the application stage, which only takes five minutes to finish online. The loan application stage has two submission forms that enable the lending institution to make an accurate in-principal decision in just twenty minutes.
The second step is the fast tracking of funding. It involves the provision of the secure login details by the Merchant Money to you to enable you to upload additional documents if your application process was successful.
It helps the experts within the company to review your application and determine your qualification to obtaining the loan. Finally, the last step is the instant transfer, which involves transferring the funds requested into your bank account within two hours of verifying that your application step was successful. The entire loan application process only takes less than a day to complete.
For the unsecured business loans, Merchant Money offers up to £100,000 to companies while it gives up to £50,000 for advances or pay as you trade type of loan. These limits depend upon the credit profile of your business as well as your ability to repay the borrowed amount in addition to the interest charged. It does not rely on any security.
For unsecured business loans of up to £100,000, Merchant Money accepts an application from companies registered in the UK that has a minimum of one year’s audited trading accounts. All the directors of these businesses must be over eighteen years old.
However, for advances of up to £50,000, the lending institution accepts the application from sole traders and partnerships within the UK. There are nor collaterals or security requirements for obtaining the loans and advances. The repayment period lasts from one month to two years. You do have to pay penalties for early repayment. Moreover, the company does not charge any application or obligation fees.
The reason why Merchant Money leads the pack is its effectiveness. In addition to providing flexible terms, it has invested in an advanced technology to enable loan applicants to submit their form online, which saves a lot of time.
The application processing only takes less than a day. It implies that Merchant Money is an efficient and reliable lending institution.