Secured loans are loans secured against an asset, usually premises or other business property.
They are generally used for the following purposes:
Setting up a new business, i.e. to cover setup costs
Expansion of the business - requiring new assets, updated technology, recruiting more people etc.
Working capital - funds for the purchase of raw materials, wages etc.
Consolidating any earlier debts
Secured business loans are fairly straightforward. The loan amount can range from anywhere between £50,000 and £1,000,000. You can choose to repay over a term that suits your circumstances. Repayment periods can be from 3 years to 25 years.