Emergency Business Loans

Securing finance for your business emergency is vital to resolve any financial crisis quickly to stop it getting out of hand.

Running a business would ideally be effortless and stress-free, allowing the owner to sit back and watch the money roll in, but this is never the case.

Anyone who has a history in business will understand all about the sleepless nights it can provide and these worries often stem from a lack of funds or financial opportunities.

Luckily, there are many more funding options these days that are available to businesses of all kinds, such as an emergency business loan.

As leading financing experts for emergency business loans for UK businesses, with this we are passionate about the growth and success of any small businesses, driven by the desire that our customers find the best finance for them is one of our main drives.

What is an Emergency Business Loan?

An emergency business loan is a quick injection of cash, these short term loans can be put in place within 48 hours, this is compared to a standard loan with can take weeks. Short term emergency loans come with a quicker application and payment processes, specially designed for ltd companies looking to borrow quickly.

Should you find your business is in need of quick finance because of stalling cash flow or to satisfy sudden demand drain on cash reserves, it might be worth considering an emergency business loan.

How does an emergency business loan work?

An emergency business loan works similarly to any other loan product in that you agree on an amount with your chosen lender and they loan you the money. You will then pay back the loan with interest on a monthly basis. However, the emergency business loan application process is designed for businesses to access finance more quickly than with a standard business loan; hence the term ’emergency’.

If your business is in need of a quick injection of cash, an emergency business loan could be a good option. It’s important to remember that emergency business loans are meant to be short-term financial solutions and should not be used as a means to absolve your business debt.

How can an emergency loan help your business recover?

Going through a rough patch is never easy, especially when it’s your business that’s struggling. An emergency business loan can provide the support you need to get back on your feet and feel confident about the future of your business. An injection of cash can give you peace of mind by helping you achieve instant healthy cash flow.

Good cash flow is what your business depends on, and when unexpected bills pop up, or a client delays making payment, your business can be put in a difficult situation. The good news is that an emergency business loan can help you recover from these challenges and get your business back on track. So if you’re facing a tough time, don’t hesitate to reach out for the financial assistance you need. It could be the lifeline your business needs to weather the storm.

What can an emergency business loan be used for?

An emergency business loan can be used for a number of situations that you may find your business be in. That poor performance could include:

• support with short-term marketing or advertising costs
• an injection of cash to pay operating expenses, such as staff wages, pay bills, rent etc.
• seasonal businesses could use an emergency business loan to plug the financial shortfall
• covering unexpected expenses, pay extra staff or repair bills

A secured or unsecured emergency business loan?

When your business is in need of emergency funding, you may be wondering what kind of loan is best for your needs. A secured loan is one that is secured with collateral, such as a piece of equipment or real estate. This makes it less risky for the lender, and you can enjoy lower interest rates and a bigger loan. However, unsecured loans are quicker to process and you will not be personally liable if you fail to make timely repayments. Ultimately, the decision of which type of loan to choose depends on your specific circumstances.

If you have the collateral to put up for a secured loan, it may be the best option. However, if you need the money quickly and don’t have collateral, an unsecured loan may be the way to go. Whichever option you choose, be sure to carefully consider the terms and conditions before signing on the dotted line.

To read more about the differences between unsecured business loans and secured business loans, click on the link.

Will I be accepted for an emergency business loan?

When you’re looking for an emergency business loan, it’s important to understand that each lender has its own criteria. They’ll look at your circumstances, the amount you want to borrow, and your business’s financial health to determine your risk as a borrower. However, most lenders will also consider your ability to repay the loan in a timely manner.

So, if you’re confident that you can make the payments on time, you’re more likely to be accepted for an emergency business loan. And remember, applying for a quote won’t affect your credit score, so by applying for a quote, you’ve lost nothing.

Does the UK Government offer emergency loans for businesses in crisis?

A government emergency business loan is able to be accessed via the Coronavirus Business Interruption Loan Scheme (CBILS).The Scheme (CBILS) provides financial support to smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak.

The amount of finance options that are made easily available to business owners today is so high largely because of the internet. Importantly, access to the scheme has been opened up to those smaller businesses that would have previously met the requirements for a commercial facility but would not have been eligible for CBILS. Insufficient security is no longer a condition to access the scheme.

On the 17th December, the UK Government has announced that the Coronavirus Business Interruption Loan Scheme (CBILS) will be extended by lenders until 31 March 2021 with a loan amount of up-to £50,000.

Can I get an emergency business loan with bad credit?

We work with a number of lenders who offer emergency business loans to companies with bad credit history. This can be a lifesaver for businesses that find themselves in a tight spot due to unexpected expenses or slow sales. The terms of these loans are typically very favorable, and the approval process is quick and easy.

Best of all, these loans can be used for any purpose, so you can use them to cover payroll, pay for repairs, or even take advantage of new opportunities. If you have bad credit and need emergency funding, don’t hesitate to reach out to us. We’ll be happy to help you get the money you need.

Read more:

• Is a UK Business Loan Repayments Tax-Deductible?
• What is a Small Business Loan?
• Loans for limited Company

FAQ’s

Why might you need an emergency business loan?

There are a number of circumstances which may lead your business to consider an emergency loan. It’s important to note, however, that an emergency business loan is not designed to absolve you of sudden debt.

How does an emergency business loan work?

An emergency business loan works like any other – in as much as it begins with an application, which is then reviewed, followed by payment. The key difference of an emergency small business loan is the speed at which the application is reviewed and the money paid into your account.

What is an emergency business loan?

An emergency business loan is like any other business loan, except the application and payment is designed to be much quicker. This makes it the primary choice for businesses that need a quick cash injection.

Apply for an emergency business loan

Applying for an emergency business loan is fast, to get started simply follow the following steps:

Step 1:

Visit our application page and provide the relevant information. This will ensure that we match you with an ideal lender. We will then ask you for further information about your business. You’ll need to be ready to tell us the following:

• • The name of your business and company number
  • Registered office address
  • How long you’ve been in business
  • Your average monthly card sales
  • The amount your business venture is looking to borrow

Step 2:

Will will then require a few personal details, so please be ready to tell us:

• • Your title, along with you first name and surname
  • The person in the business that is seeking a loan
  • Email and telephone number, so that we can stay in further contact with you

Step 3:

Read through our terms and conditions carefully, and if you’re happy to continue, click ‘get a quick quote’. From here your application will be processed and reviewed by a member of our business finance suppliers team, who will help you find the correct lender for your emergency business loan.

Step 4:

We will then be in touch with you to confirm the conditions of your loan/finance agreement.

Step 5:

Once the application is complete, it will be sent off and approved by a lender. You can then have a discussion with them regarding the terms of the loan. These terms will include interest rates, as well as how much the borrower will repay each month. The emergency business loan has gained approval, it is then provided to you on an agreed and transparent basis within 24 hours.