Frequently Ask Questions

Business Loan FAQs – Your Comprehensive Guide to Qualifying, Applying, and Getting Approved for the Right Business Financing Solution

Understanding Loan Interest Rates, Loan Repayment Options, and How to Secure the Best Business Loan Based on Your Business’s Financial Needs

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1. How to get a business loan?

Getting a business loan with SimplyFunded is quick and straightforward. If you’re a UK-based limited company with a turnover of at least £4,000 per month, you may already qualify! Just complete our simple online application, connect your bank for affordability checks, and get a decision within hours. Funds can be in your account the same day if approved.

2. How do business loans work?

A business loan provides your company with a lump sum of money that you repay over time. SimplyFunded offers fixed-term loans, so you’ll know exactly what you need to repay and when. We assess your business based on turnover and cash flow rather than credit score alone, making our loans more accessible for growing businesses.

3. How to apply for a business loan?

Applying for a loan with SimplyFunded takes just a few minutes. Fill out our online application with basic company details, connect your business bank account, and our team will review your application. If approved, we’ll send you an offer, and once the paperwork is complete, funds are released – often within 24 hours.

4. Can I get a business loan with bad credit?

Yes, we assess your business’s financial health beyond just your credit score. If your business has a steady turnover of at least £4,000 per month, we may still be able to help. We also accept applications with personal guarantees, making funding more accessible for businesses with limited credit history.

5. How much business loan can I get?

We typically lend up to one month’s revenue, with loans ranging from £5,000 to £100,000. Your approved amount depends on your turnover, existing financial commitments, and affordability. Apply online, and we’ll assess your business to determine the right funding amount for you.

6. What is a business loan?

A business loan is a form of financing that helps companies cover expenses, invest in growth, or manage cash flow. SimplyFunded provides short-term business loans with fixed repayments, giving you certainty over your costs while keeping your business moving forward.

7. How to get a loan to start a business?

SimplyFunded primarily funds established businesses with a trading history and regular turnover. If you’re just starting, you may need alternative funding such as startup grants or investment. However, if your business is already generating revenue, we may be able to help with funding to support your growth.

8. How easy is it to get a business loan?

With SimplyFunded, getting a loan is simple. As long as your business meets our minimum turnover requirement (£4,000 per month) and is a UK-registered limited company, you can apply online in minutes. We prioritize fast decisions and quick funding—many customers receive their funds within a day.

9. How to get a business loan from a bank?

Traditional banks often require extensive paperwork, collateral, and a long approval process. At SimplyFunded, we offer a quicker alternative. Our online process is streamlined, requiring only basic business details and a connection to your bank account for affordability checks. No lengthy paperwork, no waiting weeks for an answer.

10. What is an unsecured business loan?

An unsecured business loan doesn’t require you to put up assets like property or equipment as security. SimplyFunded offers unsecured business loans, typically backed by a personal guarantee from company directors. This makes it easier to access funding without risking business assets.

Our Process

Quick and Easy Application

Applying for funding with SimplyFunded is quick and hassle-free. Our fast business funding process ensures that UK SMEs get the support they need without delays. With our simple online application, you can apply in less than a minute—just enter your company name, contact details, and funding requirements.

Efficient Underwriting Funding Potential

Once we receive your funding application documents, our underwriting team will quickly review them and determine the business loan amount we can provide to support your growth.

Dedicated SME Support – Built for Your Business

A Quick Call –
Funding Support

Applying for business funding with SimplyFunded is quick, simple, and hassle-free. Our fast funding application takes less than a minute—just provide your company name, contact details, and funding needs.

Funding Direct to your Business Bank account

Get business funding directly into your bank account within 24 hours. Whether you’re expanding, managing cash flow, or seizing a new opportunity, SimplyFunded provides quick and hassle-free financing with minimal paperwork.