The Business Lending Blog

Business loans on your terms

Posted by Garrett Lee on

 

It’s a fact, taking your business to the next level requires capital, and finding the perfect source of funding for your business is key to success. 

Thankfully, you now have more options than ever before. At Linked Finance, we’re using technology and harnessing the power of the crowd to bring you fast, fair, and affordable finance on your terms. But first, consider the following; 

Amount, purpose, and security needed
It’s important that you have a clear understanding of how much you intend to borrow, what precisely you’re going to do with it, and what collateral you’re comfortable using against it. At Linked Finance, all of our loans are unrestricted with no collateral requirements.

Consider monthly repayment capacity
How quickly you need the money and how long it will take you to pay it back are next in line for consideration in the planning stages of applying for a loan. Would you accept a slightly higher interest rate for more time to make the repayments? Or can you afford higher monthly repayments with lower rates of interest? 

With a 2 minute application process, and 8 hour credit decisions, Linked Finance offer the fastest business loans on the markets. 

Match purpose of loan to suitable term
Whether you need working capital, new equipment, are ready to expand your premises, or need to hire extra staff, every business has its own reasons for needing growth capital.

Here at Linked Finance we grade business loans A, B, C, D, E, and Y. With A graded loans having the lowest interest rates. We offer flexible funding solutions for your business. These come in the form of 12, 24, and 36 month loan terms, with the added benefit of no early settlement fees. Equal repayments are made monthly by direct debit, making the whole process as simple as possible. 

Choose the term that is right for you:

noun_875552_fc4616.svg36 month loan 

The obvious value of this loan is that it spreads your monthly repayments over a longer period of time which reduces the monthly repayment value. These loans are typically filed under long term liabilities as part of your filed accounts.

The typical use for a 36 month loan is for a larger investment in your business whereby the value is realised over a longer term. These funds can be used for a number of options including; 

  • Hiring new staff to support growth.
  • Asset purchase for things like new machinery or vehicles.
  • Relocation to new premises.
  • New product development.
  • Expansion into new markets.

With traditional lenders, longer term loans can be difficult to restructure and there are often penalties for early settlement. Thankfully that is not the case with Linked Finance.

 

noun_1014542_fc4616.svg

 

24 month loan

Our 24 month loans are perfect for mid-range projects or providing a facility for a blend of purposes. You might need to refurbish or redecorate your premises, or to purchase additional stock.

As a business owner, you should be forecasting the requirement for finance and if any of the below are in the pipeline, it might be a good time to explore your 24 month loan options;

  • Marketing campaign for launch of new product/service.
  • Refurbishment of premises.
  • Purchase of a large quantity of stock. 
  • Working capital in preparation for a large upcoming project.

 

noun_438109_fc4616.svg

 

12 month loan

The key benefits of 12 month loans are that they are typically easier to access than long term loans, there are fewer monthly repayments, and they can be easily tailored to suit your needs.

In general, when sourcing a short term loan from traditional lenders, they may require increased security. This can make it harder to access the funds and the costs may be higher. With Linked Finance though, these are not concerns. Our 12 and 24 month loans come with the same great conditions that you get with our 36 month loans, and the interest rates are actually lower.

Some of the reasons you may require a 12 month loan for are;

  • Working capital for a seasonally quiet period.
  • Stocking loan for a busy period.
  • Annual upfront fees for professional services such as accounting fees or insurance premiums.
  • Attendance at an event. 
  • Marketing collateral. 

 

The Upshot

Linked Finance can help you match your plans for development with loan terms that suit your business. With business loans from €5,000 to €300,000, flexible term options, and no early repayment penalties, it has never been easier to tailor funding to your exact requirements, allowing you to harness the true power of the crowd. 

Fill in our 2 minute application form and a member of our team will contact you shortly.                                                                

Topics: