Unsecured small business loans of up to £5,000
Funding growth is a fact of life for small businesses but is daunting, thanks to perceptions that it’s only available for big businesses and large amounts.
However, at Peacock Finance we know that for some, a couple of thousand pounds can make a big difference. So, in 2018, we co-founded the Business Booster Fund to offer small loans to Hull and East Yorkshire companies.
The Business Booster Fund offers unsecured loans of up to £5,000 over up to 36 months for a set monthly interest payment of £25 per £1,000, for specific projects or purchases that will help companies succeed or get to the next level.
Examples so far have included enabling a time lapse photographer to triple his income by buying three new cameras for renting out, and a plumber to purchase a set of new tools.
Features of the Business Booster Fund
The loans don’t affect your personal credit score
If the business fails for any reason, the loan is not secured on your personal assets
The BBF does not take any debenture on the business as a bank loan would, leaving you free to source other forms of funding simultaneously
The loan is underpinned by a personal garantee on the person running the business that they will honour the loan
There is no potentially damaging credit search – decisions are based on a face-to-face meeting with Darren and a discussion about your business plan and what opportunities the loan will unlock for your business
There are no arrangement, legal or set up fees
You can pay back your loan at any time without penalty, simply by returning the capital borrowed. You can also pay back in instalments, of £1,000
There’s no complex credit scoring or form filling
Simply explain your business plan to Darren over a cup of coffee and he’ll make a quick decision and, if it’s a yes, personally underwrite your loan based on this fact-find
Contact Darren today to see how a small business loan could help you
Please call our team to see how we can help or submit an enquiry and we will contact you.
Our advice is given freely, in confidence and without obligation.