Most similar to your traditional term loan but the term is much shorter, usually up to a maximum of 12 months. You’ll repay the loan and interest daily or weekly. No security is required.
Online lending is becoming a crowded market and there are new providers popping up all the time, many specialising in particular forms of business lending like invoice finance. Each have different requirements (e.g. minimum borrowing amounts) and offer different terms and conditions.
- Choose the finance product you want first
- Research multiple Lender websites for rates and fees
- Seek assistance from an independent third party