Our most popular and flexible business loan for whatever you want, whenever you need it.
Fast and flexible funding
Give me the facts
|ELIGIBILITY||Ltd companies or LLP's with 2 years minimum trading|
|AMOUNT||£5,000 - £100,000|
|DURATION||Up to 12 months|
|INTEREST RATE||From 1.5% per month|
|FEES||No set up fees or early repayment penalty|
|APPLICATION PROCESS||Online application form and underwriting checks|
|SECURITY REQUIRED||Personal Guarantee|
|SPEED OF DECISION||Easy online application and approval by next working day|
|TIMING OF CASH||Within 1 working day after approval|
|REPAYMENT||Monthly by debit card|
|PERSONAL SERVICE||Dedicated customer support team|
|BEST FOR...||A simple cash loan paid back in instalments|
How to apply
Your questions answered
The Ultimate Loan is perfect for businesses that are looking for a flexible loan, up to 12 months, that they can spend on whatever their business needs.
We don’t charge set-up fees or other admin costs*. Instead, we have a set interest rate which will be outlined in your agreement. It starts at 1.5% per month and is based upon your businesses credit score.
*Late payment charges may apply.
Repayment is a simple, monthly transaction from your debit card. The interest rate we charge is based on a number of factors but it will always be fair and transparent.
Yes. We don’t charge a penalty for increasing the amount you’re borrowing or the duration (max 12 months).
No problem. We don't charge you any extra for repaying the loan earlier than planned.
Charges will only be applied if no payment or communication has been received. Admin charges then apply in part to cover our costs of recovery.
Admin charges are only applicable in the following circumstances:
- For each failed debit card payment attempt a £5 charge will be incurred (max 2 attempts per day).
- A £20 charge will be incurred for each outbound telephone attempt made after any payment default (max £20 per day).
- A £10 charge will be incurred for each outbound email sent after any payment default (max £10 per day).
- If two consecutive payments are missed then a letter will be sent via recorded delivery at a cost of £20.
- Should we have no response and need to engage a third party debt collection agency, all of their fees will be added to the outstanding balance of the loan.
By not meeting the payment terms of your agreement you are effectively in breach of the loan terms that you accepted. As a result, a penalty interest of 0.5% will be applied to your account for each day that a payment is outstanding.
APR means annual percentage rate of charge. It is an illustrative rate intended to help you make comparisons against other products. It reflects the annual cost of credit, taking into account the rate of interest and any fees charged for taking out the loan.
Representative Annual Percentage Rate (representative APR) is based on our reasonable expectations of what customers are likely to receive, taking into account the APRs of past agreements and calculated in accordance with guidelines provided by regulators. Actual rates charged may vary depending on specific characteristics of each loan and borrower.
For example, a £15,000 loan repaid over a 12 month period with an interest rate of 18.0% per annum (fixed) the APR would be 36.8%. The total amount repayable would be £17,700.