Below are the most frequently asked questions and direct answers to them. If you do not find the answer to your question here, we will be happily answer you by email: info@financeagora.com
How to apply for a business loan?
1. Fill out the application form on our website. You only need to enter your company’s basic information and your own contact information.
2. You will receive more detailed instructions on the progress of your loan application in your email, usually within about 1 hour
3. Our loan specialist will call you briefly regarding your application and will give you more details on the progress of the process.
4. The loan application will be forwarded to our suitable partners and they will provide you with an offer
5. You will get the loan offers straight in your email and our loan specialist will help you with your selection if needed
Who can apply for a business loan?
Anyone with at least 2 years old business can apply for the loan. In order to apply for a business loan, you must have the power of attorney with the company seeking the loan, either alone or with someone else. Loans can be offered to all existing companies that have a verifiable turnover in one way or another.
How much can I get?
The loan amounts are £1000 and £250 000. Several factors affect the loan offer, but as a rule of thumb, the bigger the turnover, the larger the loan offer. Most finance companies lend about one month’s turnover.
How long will the payment period be?
The repayment terms are from 4 to 36 months. Pay back terms vary by financing company.
What costs are involved in the loan?
The cost of the loan is always company and customer-specific and depends on the financing company. The average monthly cost of the loans is usually between 2% – 3%. You can see the exact price of your loan in your loan offer. No extra hidden costs will be added to the loans and you will immediately see exactly what your company will be paying for the loan.
Is there any obligations if I apply for a business loan?
NO. Making a loan application is completely free of charge and with no obligations. The loan offers are usually delivered to the applicant within a few hours of the application, at the latest on the next business day. Also receiving a loan offer is not binding in any way.
Is the website and the service safe?
YES. We take security and privacy very seriously and carefully. We use an encrypted HTTPS connection on our site, so all the information you enter on our site is encrypted. You can learn more about our data protection policy.
Do I need any collateral for a business loan?
No separate collateral is required. Loans are subject only to the personal guarantee of the entrepreneur. In some cases, our financial partner may also require another guarantor for the loan.
Do I need any documents of my business for a loan?
Most of our partners do not require the borrower to have a financial statement, a cash flow statement, a business plan, or any other documents on the business. Some financial companies require financial statements if they are not publicly available. In these cases, we will always notify the loan applicant separately. The loan decisions are based on publicly available information and on the financial companies’ own calculations and risk analyzes.
Will I pay extra for my loan when I use your service?
NO you won’t. Our services are free of charge and the use of our services does not affect the prices of loans to the applicants. Our customers receive their loan offers through us at least as cheaply as they would when they apply for loans independently straight from a single financing company. Thanks to our extensive network and large volumes, we can often offer even cheaper business loans to our customers than independently sought.
