Loan Amounts and Funding Terms
Loan terms between 3 months and 5 years with fixed monthly payments
Loan amounts over £2,000
Are you looking to refurbish new or existing commercial properties?
Are you looking to increase spending on new or current projects?
Are you a UK registered business?
Have you been trading for more than 12 months?
Refurbishment loans are used to fund refurbishments of properties such as commercial, industrial or residential developments.
Refurbishment funding enables landlords, developers and investors to increase the value of their portfolio or improve the quality of their holdings with the aim of increasing profits, usability and/or saleability.
The use of refurbishment finance increases spending power, which in turn allows for higher volume and/or quality of refurbishments.
How to apply for a refurbishments loan?
Fill out our application form in less than 5 minutes
Your application will be allocated to your dedicated case manager
Your case manager will be in touch within 4 working hours
They will collect all required documents to process your application
You will receive a decision within 48 hours in most circumstances
You will receive your funds within 48 hours of acceptance in most circumstances
The Benefits of Refurbishment Loans
Flexible Terms and Borrowing Amounts
Refurbishment loans are generally flexible in regards to terms and loan amounts.
As they are taken on an unsecured basis, borrowing amounts are not restricted to the amount of equity in an asset or property.
While there is no limit, maximum borrowing amounts are determined by affordability assessments and credit checks.
All proposals are subject to full underwriting & acceptance.
Speed of Approvals
Refurbishment loan applications and approvals are relatively quick to process.
With no need for charges on assets or debentures, decisions are made based on you meeting the lenders eligibility criteria.
Many lenders will approve applications within 24 hours, provided that all the required documents are provided at the time of application.
Increased Spending Power
Refurbishment loans are a great way for a business to raise additional finance to allow them to;
- Increase spending power to allow for increased investment
- Higher quality finish to improve competitiveness and efficiency
- Reduce the impact of spending on current cash reserves
No Risk to Assets*
Loans on an unsecured basis do not use collateral as part of the credit agreement, meaning your assets are not at risk in the first instance. Instead the loan is approved on the basis of your financial health and credit rating.
*In most cases a personal guarantee is required to secure the finance to protect the lender in the event of a default. Luckily, there are a range of personal guarantee insurance products available for businesses using unsecured finance.
Refurbishment loans can be a vital option for businesses to allow them to increase spending on new or current projects. The impact of late completion, delays and spending cuts can have a drastic effect on a business’s reputation and customer satisfaction.
Many organisations take advantage of finance and loans to allow them to cover shortfalls in funding, complete projects within the specified timescales or to simply invest in other areas, with the goal of improving the overall quality of the completed refurbishment.
With a wide range of versatile funding solutions available, we can help source the most suitable funding to meet your needs and allow your organisation to adapt and evolve in a timely manner.
View our full range of business finance facilities here
Frequently Asked Questions
Secured vs Unsecured Business Loans
Find out the differences in secured and unsecured business finance.
Unsecured loans are those that are not secured against personal or business assets. Most secured loans are secured against property or business assets.
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A guide to unsecured business finance
Unsecured business loans do not use any tangible assets, either personal or business, as collateral when applying for business finance.
When using unsecured finance, lenders look at your personal credit rating, business bank accounts and business financial reports.
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Cash Flow Injection for Small Businesses
All businesses need cash flow to succeed and if your cash flow is running low you will need to look for a cash flow injection.
Effective cash flow management can help you analyse how healthy your cash flow is and look for ways to improve it.
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