Unsecured Business Loans

Whilst unsecured business loans come with their advantages, such as not being locked in to pay the entire amount loaned back if something were to happen, they are not without their disadvantages. Due to the lender risk, unsecured loans are much harder to obtain for small business owners than secured business loans and are only given to companies who have annual turnover and a high credit score. In order to be given an unsecured loan, you may need to demonstrate your financial plan and projections, outline your growth plan based on financial statements, and prove the business’ purpose. 

Depending on the loan criteria, the lender, and your company, this process can take anywhere between 24 hours and 10 working days. Due to their volatile nature, these specific bank loans are wedded to much higher interest rates and fees – so the fees and charges can negatively affect a businesses growth ability.

OptiPay is a business finance assistant that equips companies to optimise their payments through innovative tools. Dissimilarly to unsecured and secured business loans offered by banks, OptiPay offers a modern flexible funding solution that businesses the cash it needs without the high fixed interest charges, regular payments, or the usual 6-12 months term business loan contract. 

With OptiPay, there are no upfront setup costs and no elongated, time consuming application process. You can simply apply online with a few clicks. What comes next? Once your application has been approved, your business has an improved cash flow – encouraging business development, expansion, and scalability.