Unsecured business loans
Borrowing that isn't secured on property or assets, usually over a shorter term.
Business loans
Funding for the need that isn't an asset
For SMEs that need cash for growth, payroll, stock or a gap between committed spend and income. Loans are arranged through Novora Asset Finance™ from a broad UK lender panel.
Business loans cover the costs that asset finance can't: taking on staff ahead of a new contract, buying stock, moving premises, running a marketing push or bridging the months between paying out and getting paid. The money is lent against the business rather than a specific piece of equipment.
3S arranges business loans through our sister business, Novora Asset Finance™. Their job is to match your business to lenders whose appetite fits your sector, size and trading history, so you are not sending the same application to lender after lender.
Newly incorporated companies often have little in the way of filed accounts. That is normal. The conversation just starts with us rather than with a score.
Why 3S
- One contract, one point of contact
- A plan within 48 hours
- Facility agreed before you commit
- Broad lender panel via Novora Asset Finance™
Business loans
Types of business loan we can arrange
Secured lending
Borrowing secured on property or other assets, which can support larger amounts or longer terms.
Working capital facilities
Funding to cover the gap between paying suppliers and staff and being paid by customers.
Growth and expansion funding
Capital for a new site, a new team or a larger contract than your cash flow can carry alone.
Acquisition funding
Finance towards buying another business or a competitor's book.
Recruitment and payroll
Cover for the cost of new hires before the work they bring in starts paying.
Stock and premises
Funding for bulk stock purchases, a lease premium or premises costs.
A lender matched to you
Novora uses your profile to approach the lenders most likely to say yes.
What lenders look at for business loans
Most lenders start with filed accounts, bank statements, how long the company has traded and its filing history. They then look at what public accounts can't show: current trading, the purpose of the loan and how repayments will be met.
Unsecured business loans commonly ask directors for a personal guarantee. That is a real commitment, so read what it covers before you sign, and ask Novora to explain it if anything is unclear.
The most common mistake is applying to several lenders at once and collecting a string of credit searches. A broker who knows each lender's appetite can go to fewer places with a better-prepared case.
How it works
Three steps, one point of contact
Step 1
Tell us the need
Company details, what the money is for and the amount. You can check your likelihood score first, which reads your filed accounts and leaves no credit footprint.
Step 2
Novora builds the case
Novora decides which lenders fit your profile and prepares the application for them. Straightforward cases usually get an indicative decision quickly; larger facilities may need full accounts.
Step 3
See the terms, then decide
You get the term, the repayments, the total cost and any fees in writing before you commit. If it isn't right, you don't go ahead.
Next steps
How the funding fits alongside the work
If the loan supports a 3S project, such as a fit-out or a systems build, the proposal comes first so the lender sees a defined scope and a real number. You apply while the proposal is under review, and the facility is agreed before contracts are signed. Finance is subject to status and credit approval. 3S Consult is not a lender and does not give financial advice. Applications are handled by Novora Asset Finance™, who set out the terms, the total cost and any fees before you commit.
Evidence
What you end up holding
Before you commit, you hold a written offer that sets out the amount, the term, the repayments, the total cost and any fees. Nothing is signed until you have read it, and we would encourage you to run it past your accountant if the decision is finely balanced.
Questions
Business loans: common questions
I've been declined for a business loan. Can you still help?
Very possibly. A single decline doesn't mean the deal is unfundable, because lenders have very different appetites by sector and business type. Tell us who declined and, if you know, why.
Will I need to give a personal guarantee?
Many unsecured business loans ask for one from the directors, but not all. Novora will tell you what each lender requires before you apply formally.
Can a new company get a business loan?
It can be harder without filed accounts, but it isn't ruled out. Lenders then rely more on the directors, the business plan and bank statements, so talk to us directly.
Can sole traders apply?
Yes, though the likelihood checker only works for limited companies and LLPs because it reads filed accounts. Sole traders should contact us directly.
Is a loan better than asset finance?
If the money is for a specific asset, asset finance is usually worth looking at first because the asset secures the funding. We are not able to give financial advice, so check the choice with your accountant.
Related services
Often needed alongside this
Asset finance
For businesses that need plant, vehicles, IT or equipment without handing over the full price on day one. The cost is spread into fixed monthly payments, arranged through Novora Asset Finance™.
Read more →Invoice financeFor SMEs that trade on credit terms and feel the wait between doing the work and getting paid. Invoice finance releases cash against your sales ledger so the next job isn't held up by the last one.
Read more →Recruitment for trades, technical and office rolesFor businesses hiring trades, engineers, supervisors or office staff. You get a shortlist screened against a brief written by people who understand the work.
Read more →