Business Loans

  • Competitive rates tailored to your business
  • Borrow between £10,000 and £1,000,000
  • An alternative to unarranged overdrafts and credit cards
  • Smooth cashflow fluctuations
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Excellent 300+ reviews 4.6 stars 200+ reviews
 

Business Loans

  • Competitive rates tailored to your business
  • Borrow between £10,000 and £1,000,000
  • An alternative to unarranged overdrafts and credit cards
  • Smooth cashflow fluctuations
Excellent 300+ reviews 4.6 stars 200+ reviews
  • Both a lender and broker

  • Nearly £1bn financed since 2007

  • Expert personal service

Portman Business Loans

A cashflow injection for business purposes

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How a business loan works

Business loans can help you maintain or grow a company. Put simply, it’s a way of borrowing money to be used for business purposes, which is repaid in monthly instalments, including interest, over an agreed period called the term. Business loans are a common way to help smooth out fluctuations in a firm’s own cashflow. They also help businesses invest and take opportunities where otherwise they could be missed due to a lack of working capital or reluctance to tie up large amounts of cash. 

Business loans can be secured or unsecured. Secured loans are tied to an asset which the lender can claim ownership of if the loan payments are not made. Portman typically provide loans that are not secured on an asset, which can be more flexible, but are likely to require a personal guarantee.

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What are unsecured business loans?

An unsecured loan is money lent from one party to another without any security over a specific asset, though they may require a personal guarantee. A lender advances funds to the customer who makes regular payments. The customer can terminate the agreement at any time, giving notice to the finance company and paying the settlement amount. At the end of the term, you will retain ownership of any goods bought with the funds, or if simply used for cashflow, there are no further payments to make. 

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What can business loans be used for?

Business loans can be used for any legitimate business purpose, you know your business and your goals best, you choose where to invest. Loans are often used to: 

  • Boost cashflow 
  • Cover operating costs and expenses 
  • Cover staff wages 
  • Fill the gap between invoices and getting paid 
  • Supplement seasonal income 
  • Purchase materials, inventory or stock 
  • Ensure cashflow during a project with staged customer payments 

Business loans offer an alternative to unarranged overdrafts or credit cards. If these lines of credit are exhausted first, a company may not have funds for day-to-day expenses and contingency. They will also affect your ability to obtain further credit in the form of a loan. In some instances, it may be more prudent to take a loan first. 

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When to get a business loan?

Businesses might need a loan at several stages of their development. Start-up businesses often need to borrow when buying their initial equipment or funding their premises. After a couple of years, businesses often want to fund their expansion or move to a bigger property. Seasonal businesses or those who undertake long projects with staged payments sometimes like to smooth out their cashflow if costs are relatively static during the year. In addition, through no fault of their own businesses sometimes need help to ride out a difficult trading period. 

Each business is different, individual trading circumstances and history affect whether finance is right for you. If you do decide either a long-term or short-term loan is a good option, as both a lender and broker who works with businesses of all types of credit history, Portman is best placed to find you the right deal. 

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Am I eligible for a business loan?

Eligibility for a business loan depends on your individual circumstances and those of your business. Many businesses will find that they are eligible for a loan, but the types of loan and available rates will vary depending on several factors including your credit history and the business’s trading history. At Portman we operate as both a lender and a broker and so are able to make our own decisions or find the best lender for you. 

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Is a business loan right for me?

Only you know when your business is ready for finance and we recommend seeking professional advice, but a business loan allows you to: 

  • Get what you need now 
  • Secure fixed monthly repayments 
  • Cover immediate costs and make repayments whilst your business generates revenue 
  • Build your business credit score for the future 
  • Expand your existing premises 
  • Grab an opportunity that’s bigger than the potential repayments 
  • Attract the best talent 

Business Loan FAQs

A cash injection for any legitimate business purpose

How are business loans secured?

A secured loan is one where the business puts forward an asset such as a vehicle, equipment or property to act as security. A formal charge, restriction or other security document will be registered against the asset, either at Companies House or the Land Registry, which may affect your ability to deal freely with the secured asset, i.e. you may be restricted from selling the asset without the lender’s prior permission. If loan payments are not made, the lender can enforce their security directly against the asset in question in order to recoup the money it is owed.

An unsecured loan does not require any assets as security. The lender typically will base their lending decision on an assessment of the creditworthiness of your business and affordability of the monthly payments. Depending on this assessment, a lender may still ask for a personal guarantee from the directors or shareholders. This is a promise to pay from the individual to the lender in support of the business, but no formal security will be registered against either the businesses’ or their personal assets meaning you can deal with these freely.

The vast majority of business loans arranged by Portman are unsecured. In some cases, formal security may be taken by a lender, but this very much depends on the individual business’s circumstances and requirements and is dealt with on a case by case basis.

Do you offer small business loans?

Portman work with businesses of all sizes and can secure funding for both small businesses and new starts, as well as established larger firms. Portman typically sources funding from £10,000 and above, but is able to offer lower value funding in some circumstances

How do I get a business loan?

You can enquire online by using our eligibility checker enquiry form. Click ‘get started’ at the top of the page and complete your details on the enquiry form. Once you have submitted your details, one of our account managers will contact you to discuss your needs. We do need some business documentation from you but will complete proposals and applications on your behalf. 

What can business loans be used for?

Business loans can be used for any legitimate business purpose. Our customers use loans to fund premises, to buy stock, to market their business, to cover wages or operational costs or to buy any items they need for their business.

Are business loans hard to get?

The ability to get a loan and the best available rate depends on a combination of the current and historic trade of your business and, depending on the strength of your business, your own personal circumstances. It is typically easier for established businesses with a healthy balance sheet and P&Lto obtain finance than for newer businesses or those who have had financial difficulties. However, as both a lender and a broker, Portman can match the requirements of our customers with the lender most likely to offer finance, giving you a greater chance of success.

Fulfill a contract Cover a one-off purchase Business growth Stock and equipment Cashflow
How does it work?

We make things easy

We know that finance can sometimes be confusing and stressful, but what we do is simple.

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1. Get started in 1 minute.

Enquire without affecting your credit score.

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2. Understanding your business.

A dedicated account manager will discuss your needs and collect documentation.

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3. Our experts do the leg-work.

We find the right deals, complete applications on your behalf and get you a no obligation quote.

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4. Your no-fuss finance is funded.

If accepted, your assets will be bought and delivered or the finance released to your account.

Enquire today
Our experts can find the right funding for you.
Find out how we can help today.
OUR TRACK RECORD

A professional, personal service every time

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Excellent service

Excellent communication and help throughout the process. Easy and prompt emails. Highly…

Daniel Cooper
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Knowledgeable Team

Portman and the entire team are great to work with, know their lenders and products incredibly…

Marney Howe
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Very smooth operation

I have now dealt few times with Portman Finance and it has always been very smooth and…

Anthony ienco
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Outstanding Service!!

We used Portman Finance to secure finance for a new restaurant we are opening. Jack Weston…

David B

Excellent / 300+ reviews

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