Here at QuoteGrab, we understand how desperate the need for a loan can be. From a shortfall in profits, to the chance to invest in your businesses growth - or maybe even a planned expansion - there are a thousand and one reasons a company may need a loan. With the chance to borrow anything from ||$||1000||$||to ||$||1,000,000||$||, there's a loan out there that can greatly help any sized business - but, these blessings usually come with a catch. As eager as you are to get your loan straight into your bank account, you shouldn’t just accept the terms of the first lender that comes along. You could end up owing thousands - millions even - in interest, which would cost you a lot more than most loans are worth. But, with us fighting your corner, we can help set you up with a loan that benefits you greatly and doesn’t charge you your life savings in interest. All you have to do is fill out this short form!
Takes Two minutes
We know that you want to access your loan fast, not waste time comparing a thousand different loan companies. That’s why we ensure our form only takes a couple of minutes to complete!
The fees banks and loan companies charge can be extortionate - which is why we’ll never match you with a lender who’ll end up bankrupting you. We’re trying to save you money after all!
Get Great Business Loans
We never want loan repayments to take over your life - they should be beneficial to you, not a burden. That's why we only pair you with great, affordable lenders.
The type of loan a company needs depends on, well, what type of company it is. Plus, the profitability of a company can greatly affect the interest they’re charged, and how they secure the loan. We want to avoid you having to put your house up as collateral just because you don’t earn as much as other companies, or your credit history isn’t as good. When we say that we customize contracts to suit you, we mean it.
Here at QuoteGrab, we want to do more than keep your business to float - we want it to thrive. And you’ll never be able to grow if you’re crippled by debt after mistakingly signing a contract for a high-interest loan. But, to find you a loan that offers the lowest interest possible, we need to find out a little bit more about your business.
After you fill out our short form, we’ll be able to get a more accurate picture of your business's needs - and the type of loan that compliments your company. From our comparison, we’ll then be able to select up to four of the best lenders that can provide what you need - perfect!
This may not be your first loan, and it may not be your last. Either way, you really should compare lenders before signing any contracts. After all, if you do need to get another loan at a later date, you don’t want this one damaging your credit score - otherwise, you may not become eligible for another loan anytime soon. In fact, even applying for a loan can damage your credit score - as repeated rejections damage your companies history. That’s why we don’t suggest applying for a loan unless you’re absolutely sure that it’s the right one for you, and you’re certain that you’ll be accepted.
See, this is why we find it so important to compare prices. Not only does it prevent you from paying extortionate interest rates, but it can also protect you from damaging your credit score. Plus, choosing the right deal can actually prevent you from having to take a loan out against things like your home - which is always risky as, if your business suffers a significant loss, you could actually end up homeless! As essential as choosing the right loan is, it’s a lot of work. And we don’t want you to have to burden yourself with any additional tasks on top of your already busy workday. In fact, we do all the work for you - you can just get on with your day!
Benefits of Comparing Prices
Find Low-Interest Business Loans
Customise ContractsTo Your Budget
Only Talk To Highly Experienced (20+ years) Business Loan Experts
Discover Where To Find The Safest Loan Companies
In case you haven’t noticed, bagging you a bargain is just one of our many talents. And given our experience in snapping up a deal, we thought it was only fair to let you in on a few of our money-saving secrets.
Have Adequate Collateral
No, you won’t have to put your family home on the line - not if you have other things you can use as collateral - like equipment or inventory. If the assets you provide are of equal value to your loan, your interest is likely to be lower. And the lower the interest, the lower the risk of you actually needing to fall back onto these assets.
Banks (and other loan companies) will request to see all your businesses financial history before securing a loan. This includes things such as missed payments and pre-existing, unpaid loans. The less of a negative financial history you have, the stronger the likelihood there is of you receiving reduced interested - as you pose less of a risk.
Have A Good Personal Credit Score
Lenders won’t only look at your business's financial history, they’ll want to review your (and any of your business partners’) personal credit score too. After all, even under the guise of your business, they’re still lending this money to you. And, even if you’ve made a mistake as minor as being late on your phone bill, it could go against you and encourage higher fees.
Take Out Life Insurance
Seriously, this is a point. Banks, in particular, are quite fond of this security method. They encourage you (and your business partners, if you have them) to take out life insurance. If you die before repayment is made, they can actually claim from this policy! In a way, you become your own collateral, to prove that you believe in your business.
Well, it’s a type of loan that’s intended for business use only - most commonly requested through banks. In the UK, you can actually borrow up to ||$||3,000,000||$||, depending on your circumstances. But, these loans always come with some form of interest - and rely on you providing collateral as security.
Honestly, that depends on what you’re actually using it for. You could be using it to keep your business afloat during a hard time, or you could have found an amazing investment opportunity that would triple your companies income - you just don’t have the money to invest upfront. Either way, it’s a great way to secure the funding you need upfront, to help your business in whichever way you need.
As important as it is for you to secure a loan as soon as possible, you shouldn’t have to spend the next 30 years recovering from the crippling debt the loan’s interest has put you in. Here at QuoteGrab’s top tips to keeping costs down:
Have Adequate Collateral
It doesn’t matter what you provide as collateral (to an extent), as long as the value of the asset equates to the same value - or more - than the loan. The more you have to lose, the more they have to gain - which can equate to a lower interest.
Whether this is your first loan or your thirtieth, you want to present yourself as a reliable debtor, If you’ve frequently missed other loan repayments in the past, your interest would be higher as you’re more of a risk. So try to always pay your debts on time - you never know when they’re going to be assessed.
Have A Good Personal Credit Score
At the end of the day, a company is assessing how trustworthy you are, as the business owner. So, before applying for a business loan, work on improving your own personal credit score.
Take Out Life Insurance
Though other loan companies may suggest you do this, banks are notorious for it, if you can’t provide any other sort of collateral. If you allow them access to your life insurance policy when you die, they’re likely to reduce any interest you have to pay.
Get Your Accounts Audited
An audited statement is one you’ve paid an accountant to go over - who can actually be sued if the details are wrong. As your finances have been assessed by a professional, a lender is more likely to trust their accuracy - and again, lower the interest
Do Your Research
Not only are there a thousand loan providers, but there are also hundreds of different types of loan too. Applying for a ‘non-traditional’ loan could actually result in minuscule interest rates.
+ What Is A Business Loan?
Well, it’s incredibly similar to a personal loan in the sense that you’re borrowing a certain amount from a lender, that you promise to pay back with interest. However, a business loan is harder to acquire and requires you to show the lender a lot more information to qualify. Plus, you have to be willing and able to put assets up as collateral in the case that you can’t pay!
+ Do I Need A Business Loan?
Well, only you can decide if you want a loan. But, here are some reasons that mean securing a loan will be highly beneficial for your business. Even if you tick only one of these, you should seriously consider looking into the loan process!
+ How Do I Find The Best Business Loan For Me?
Well, to put it simply, you don’t. We actually use all our resources to find the best loan and best lender for you! We assess your purpose for the loan and potential to repay against the terms and conditions of a variety of lenders, and each loan that lender offers. We then choose up to four of the top options for you, giving you the freedom to choose the one you find the most beneficial.
+ How Much Is A Business Loan?
Interest rates on a business loan rely on a number of things like; the age of your company, whether this is your first loan and the amount of profit you’re likely to make. It’s impossible to pinpoint a total price without learning a little bit more about you and your company. To get a quote, just fill out this short form!
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At Quotegrab, we love guiding business owners like you to solutions for your business needs. We’ve picked up a lot of knowledge along the way, and now it’s time to pass that down.
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