From a company experienced in providing quick loans to private customers, Wonga for Business now offers fast loans to your business enabling you to borrow up on £15,000.
The loan application process is completed online and with a user-friendly calculator it is easy to select the amount you wish to borrow, for how long and to see instantly what the repayments will be.
The emphasis is providing new and existing businesses with flexible loans of between £3000 to £1500 for periods ranging from one week to a year.
Credit checks and other information required to assess your application are carried out via the website. Loan decisions can usually be given instantly and successful applicants can receive their fund within 24 and sometimes sooner based on who the business banks with.
Adhering to the terms of the business loan might allow you to apply for further funding later on and thus this facility can continually aid your business and help you mange the short term variability of cash within your operations.
Loans repayments are made on a weekly basis and linked to your debit card from which the agreed funds will be taken. It is therefore essential that you ensure that sufficient funds exist against the card so that monies can be debited on the agreed dates.
The owners or directors of the business will be required to provide personal indemnities in the event of a loan default. Each owner or director will be joint and several liable under such circumstances and may be required to repay the business debt. It is therefore important that the terms of any agreed loan advance and that the consequences of defaulting are fully understood.