To understand small business loans, we first need to ask, what is a small business? There are several definitions. Depending on who you ask, a small business can have as few as 1 and as many as 250 employees. In our experience, we’ve found that UK lenders define a small business as having up to 50 employees, with turnover less than £2m.
Small business loans may be used for a variety of purposes – start-up, expansion, working capital, asset purchase, debt repayment; even the purchase of a business. Borrowed sums may range from £1,000 up to £500,000 and with repayment terms up to 25 years if the loan was secured against an asset like property or land. Additionally, unlike equity financing, small business loans do not require company principals to surrender any of their ownership.
If you are interested in any of the services above please do not hesitate to contact us. Alternatively, if there is a service not listed that you require, RDS Consultants may still be able to help. We look forward to working with you and improving your business.
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