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Answers to Common Small Business & Flexible Loan Questions
Bizcap specialises in providing fast and flexible business loans to small and medium-sized businesses. Our solutions include Fast Business Loans, Small Business Loans, Secured Business Loans, Bridging Finance and Lines of Credit. Our loan sizes vary from £5,000 to £750,000 and Lines of Credit are available up to £300,000.
Bizcap offers business loans of £5,000 to £750,000 and Lines of Credit up to £300,000. To find out more about each of our loans, compare our solutions.
The specific amount of your business loan is influenced by factors like your business's cash flow, operational duration, assets, and loan purpose. We assess these aspects to gauge your business's health and creditworthiness.
Our aim is to offer customized loans that address each business's unique financial needs, minimizing risk for both parties. By thoroughly evaluating factors contributing to your business's financial health, we determine an appropriate loan amount and terms to support sustained growth and success.
At Bizcap, we pride ourselves on providing fast and flexible business loans. Applications for a Bizcap Fast and Small Business Loans can be approved within 3 hours and funded that day. Our other solutions can be issued in as little 48 hours. If you need funds sooner, let our Loan Specialist (or Business Development Manager for partners) know and we can fast track your application.
Delays can occur when customers provide partial or inaccurate information or supporting documents. To ensure your loan is processed as quickly as possible, be sure to provide accurate and complete information.
Bizcap sets itself apart from other lenders in the speed at which we offer business loans. We can do this because we are a direct lender and self-funded, which cuts the red tape that’s typically involved in processing loans, and thanks to our streamlined application, approval and end-to-end processes.
Traditional banks can often take weeks to provide an outcome for a business loan application. Non-bank lenders, while generally faster than banks, can still take several days to process fast business loans. In contrast, Bizcap can grant you access to the capital you need in less than 24 hours. This exceptional speed makes Bizcap one of the fastest business lenders in the market.
We leverage our proprietary technology system and extensive underwriting experience to provide outside the box solutions. This lets us lend to customers who come from all walks of life and a multitude of industries. After you complete your application (a simple form that includes your details and business bank statements), we assess your file without running a credit check and make you a conditional offer. Once you’re happy with the loan terms and wish to proceed, we might gather some extra information, including a credit report, to make you an unconditional offer. Funds are often issued that day.
At Bizcap, we have established minimum eligibility criteria to ensure that our business loans are accessible to a broad range of businesses. Each loan has different eligibility criteria. For Bizcap Fast and Small Business Loans, you will need:
By meeting these criteria, you can confidently apply for a Fast or Small Business Loan with Bizcap, knowing that our financial solutions are designed to support businesses like yours. To find out the eligibility criteria for Bizcap Secured Business Loans, Bridging Finance and Line of Credit, please refer to the Eligibility section of our Compare Solutions table.
Factors that affect whether or not your loan is approved include how long the business has been trading, its revenue history, assets and credit history. We also look at the business owner and various other factors to help us build a comprehensive profile of the applicant. It is thanks to this approach of truly getting to know the customer that Bizcap can help in ways that other lenders won’t.
The key factor that can hold up your business loan application is delays in providing us with the necessary documentation. You need to submit your business bank statements as part of your online application, but after we have made you a conditional offer we may require further documentation. The sooner you can get that to us, the sooner we can issue you with a business loan.
Bizcap prides itself on being a low doc lender, meaning we require fewer documents for business loans than other lenders, including both banks and non-bank lenders. This streamlined approach enables us to expedite the business loan application process, but it is still essential for applicants to provide the requested documentation in a timely manner.
If you only need a loan for a few weeks, Bizcap can help by providing a loan that’s tailored to your needs and circumstances. Our business loans are a flexible solution to bridge cash flow gaps, make quick purchases, or address other short-term financial requirements.
We understand that businesses sometimes need short-term financial support, which is why we offer business loans with varying terms. If you know that you will only need a loan for a brief period, just let us know, and we can structure your loan accordingly. Businesses who qualify for our Bridging Loans can receive up to 65% off our standard rates.
What’s more, we appreciate responsible borrowing and timely repayment, so we offer discounts for settling loans early. By taking advantage of this incentive, you can save on interest while still addressing your short-term financing needs.
You can you use the funds for any business purpose. Our customers generally use the funds for:
We consider each applicant’s cash flow, payment history and financial strength to determine a risk-adjusted repayment plan that’s tailored to that applicant. Payments are determined by factors such as the amount and consistency of the business’s cash flow, the number of years the business has been in operation, the assets owned by the business, and the proposed use of funds. We also charge an establishment fee on the loan, which is agreed upon upfront. Unlike other lenders, we won’t penalise you for settling your loan early, if that’s what you choose to do. Instead, we’ll reward you for paying it off early, by giving you a discount.
The interest charged by Bizcap on business loans is determined by a factor rate, which is a fixed fee that is applied over the term of the business loan. The factor rate Bizcap applies to your loan takes into account your business’s creditworthiness, the duration of the loan and the intended use of the funds, and therefore varies from one loan to the next.
As you build a relationship with Bizcap, demonstrating your ability to reliably and punctually pay off your loan, the factor rate will likely decrease.
Loans are repaid through daily or weekly direct debits from the business’s bank account (excluding weekends and holidays) for the term of the loan, which can range from 3 to 12 months.
Bizcap business loans are repaid through daily or weekly direct debits from your business bank account. This repayment structure is designed to be convenient and easy to manage, reduces the risk of late repayments or default, and helps businesses maintain a healthy cash flow whilst successfully repaying their loans.
The terms of Bizcap small business loans generally range from 3 to 12 months. Bridging Finance is available for terms of less than 12 weeks and our Line of Credit offers ongoing access to funds. Learn more about each of our lending solutions here.
Yes, you can repay your Bizcap business loan early. Unlike other lenders, if you want to make extra repayments or pay off your Bizcap loan early, we won’t charge you any fees. In fact, we can offer discounts to businesses who settle their loan early.
Bizcap’s business loans are designed to be fast and flexible, in order to meet the unique financial needs of each business. If you know that you’ll only need a loan for a short period, let your Loan Specialist know and they will tailor the offer to suit your needs.
In many cases, Bizcap can assist even if you currently have a business loan elsewhere. Businesses who didn’t receive as much money from one lender as they had hoped for are welcome to apply for further funding from Bizcap. We will assess your business’s financial situation and capacity to manage multiple loans before extending your debt. By offering a range of business loan solutions, Bizcap can provide the financial support your business needs.
If you already have a loan with Bizcap and wish to access additional funds, we can often help. It’s not uncommon for businesses to require additional financial support as they grow or encounter unexpected expenses.
If you would like to access more funds, reach out to your Loan Specialist to discuss your options. We will evaluate your financial situation and ability to repay the loan when assessing whether you are eligible for additional funding.
Bizcap may take personal guarantee(s) from directors of corporate borrowers, directors of corporate guarantors and certain individuals.
When assessing a loan application, Bizcap generally does not take into account whether a prospective borrower has specific assets to provide as security.
If the loan amount is above £30,000 (or any other figure Bizcap determines from time to time), Bizcap will, under the loan agreement, take a charge over the assets of the borrower and its guarantor(s). Bizcap may register its security interest(s) on the relevant register including the Personal Properties Securities Register and the relevant land interests register. In certain instances, Bizcap may require specific security to be granted over assets. Examples of security (based on loan size and the customer’s individual circumstances) include charges over bank accounts, vehicles or other personal property or caveats over land.
Security and assets are not required for an application regardless of the loan amount.
If you are seeking a business loan for a startup business, we usually require a minimum of five months’ trading history. However, if you have an existing business and need funding for a new venture, we invite you to contact us so we can quickly assess whether we can provide the business loan you need to support your growth and success.
Small business owners avoid shopping around for the best loan offer out of an understandable concern that doing so would result in multiple credit checks. Each credit check, or "hard inquiry," can slightly lower your score. What’s more, some lenders view multiple credit inquiries within a short period as a sign of financial instability.
One great thing about Bizcap is that we can make an initial offer without running a credit check, which makes applying for a loan completely risk-free.
Only once you decide to proceed with the loan do we run a hard inquiry to make the offer unconditional. If you’d like to find out how much your business would be eligible for, apply now for an obligation-free offer.
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