With an air of uncertainty surrounding a lot of small businesses in the UK, many of the £5.6 million SMEs who have been affected by the recent economic downturn, are seeking a quick injection of cash to help them get back on track.
Unsecured loans are a popular way to fund a small business as there’s no need to put up collateral, they’re fast to set up and you can borrow more than what your assets are worth.
One of these unsecured loans is the Coronavirus Business Interruption Loan Scheme (CBILS), which Mercia can offer. Working alongside the British Business Bank, the initiative can provide a much-needed debt finance solution for small businesses who employ less than 250 employees and looking to borrow between £100,000-£750,000.
If we can’t help, small businesses can always apply for grants through the Small Business Grant Fund, or alternatively you can find out more information in the links below:
Finpoint – https://finpoint.co.uk/coronavirus-business-loan/
Swoop Funding – https://swoopfunding.com/