What is a Secured Business Loan?

A secured loan can be cheaper for you than other types of finance because it is secured against an asset which is usually the equity tied up in your business or home.

Benefits of secured business loans

Two black female business owners having a discussion and taking notes about their reason for a secured business loan | Finsure UK

Do you want to expand your business but don’t currently have the money to get started? Or perhaps you want to get in control of your finances and consolidate your debts.

A secured loan may be right for you, as it allows you to borrow larger amounts of money with a lower interest rate as it’s secured against your assets such as your home or business.

This means that there is less risk involved for the lenders so you can typically borrow a larger sum of money. You will need to make monthly repayments, plus pay interest which is calculated as a percentage of what you owe.