Even if you are a struggling entrepreneur who is unemployed, this fiscal allowance can benefit you as the grants are given on the basis of your potential and repaying ability regardless of whether you are employed or unemployed. Business loans UK can help entrepreneurs who want a grant of cash to help start or expand a business.
You can get grants of 5000 up to 5000, 000 with a repaying period of 25 years. You must be able to prove your repaying ability to the financial institution or the lender. However if you feel you will not be able to repay this amount within the time period agreed then you have the flexible option of extending your contract providing the lender agrees. You can apply for a secured or an unsecured style of loan amount.
If you are a home owner then placing security against the money you take will be ideal, the risk for the lender reduces and therefore you pay a lower rate of interest back. People who are confident of repaying back the loan within the agreed time period will find this is a risk worth taking.
If you do not own property or do not want to risk placing any type of property on stake as such then you have the option of applying for an unsecured fund. The risk for the lender is higher and therefore you will have to pay a reasonably high interest rate.
Eligibility:
Should be 18 years of age or above
Should be a citizen of the United Kingdom
Should have a valid and active bank account
You can even apply online. Simply fill in your details and click on the send button! Once your form has been verified, the funds will be transferred into your account as soon as possible.