How can I apply for a Business Loan in Glasgow?
Businesses looking for a Business Loan can apply online via For Kredit. As a brokerage, For Kredit specialises in finding businesses the right funding they need whether they’re looking to grow or are looking for a cash injection for cash flow.
Our online application form is super simple to complete and no fees are charged for making an application. The application will require business owners to provide some basic information and documents about themselves and their business which will then be assessed once the application is submitted.
If the application is successful the business owner will be contacted with further details about the loan being offered. The business owner can decide whether or not they wish to accept the loan which is offered. If accepted, the agreed sum of money can then be transferred directly into the associated bank account, within 24 hours of the deal being finalised.
How much funding can I receive from a Business Loan for a business in Glasgow?
For Kredit are able to broker business loans up to £500,000 for businesses across the UK. The total amount that is borrowed is determined by the lender, which may slightly differ depending on the strength of the application.
Why Should I apply for a Business Loan for my business in Glasgow?
It can be difficult to decide which type of commercial finance to apply for with so many different options on the market. That’s why businesses must always undertake research before applying for finance. Below we’ve put together three reasons why businesses in Glasgow may apply for a Business Loan.
1) Designed for businesses that take regular card payments: A Business Loan is a bespoke form of commercial finance that is useful for businesses that receive a regular amount of card payments each month. It provides a funding solution that doesn’t require interest or fixed monthly payments. Furthermore, it also means that any cash payment a business receives, they get to keep 100% of it.
2) Business loans are unsecured forms of finance: At For Kredit we help broker unsecured business loans. This means that business owners do not have to attach an item of value, whether that be personal or business property, to the loan. This can be attractive to business owners who want less risk when borrowing money. However, most lenders will ask business owners to sign a personal guarantee as reassurance. This means that the owner of the business agrees to guarantee that they repay the remaining amount of the loan should the business stop operating.
Is Glasgow a good city to start or run a business?
Glasgow is an entrepreneurial hub and the powerhouse of Scotland, with the Glasgow City region helping to generate £47.3 billion GVA in 2019 for the economy. This level of entrepreneurship is what has earned it the accolade of being the best city for small businesses in the UK.
The city itself was historically renowned for being a hub for shipbuilding and remains one of the most important cities in the UK for manufacturing. It’s not just manufacturing that makes the city special, the economy has become more diverse with industries such as finance, communications, and tourism becoming a prominent part of the Glasgow economy.
Glasgow also provides a fantastic opportunity for startups due to its highly qualified and skilled workforce, especially with its local universities producing some of the best graduates in the UK. Overall, the city has so much to offer and we’ve barely scratched the surface of its rich history and amazing nightlife!
What notable industries are based in Glasgow?
Historically, Glasgow was an industrial city, famous for shipbuilding and a hub for manufacturing within the UK. In the last few decades, the city has since diversified. The Glasgow Economic Strategy Report 2016 – 2023, produced by Glasgow City Council, identifies some of the key sectors as Finance & Business services; Tourism & Events; Engineering, and Low Carbon Industries.
What is the startup scene like in Glasgow?
In recent years, Glasgow has developed a reputation as a budding hub for startups within the UK. In fact, Glasgow has recently been ranked as the second-best tech city within the UK by the CBRE tech cities survey, establishing itself as one of the top tech hubs in the UK and Europe. It was also voted the second best small city in Europe for starting an SME.
What Loans can I apply for?
Does For Kredit provide business loans in Glasgow?
Yes, we can help secure corporate funding for all countries in the UK, including funding for Scottish SMEs based in Glasgow. As a business credit broker, we work with a number of different lenders who are able to provide competitive rates on their loans.
What loans are available to Glasgow businesses?
Here at For Kredit, we work with a number of lenders that are able to help find a loan to suit a variety of Scottish small and medium-sized businesses. We work with lenders that specialize in finding business finance for:
- Startup Businesses
- Small Businesses
- Limited Companies
Startup Business Loans
Startup business loans are designed to help entrepreneurs who are looking to create a new business. Startup funding is notoriously difficult to be accepted for, especially from traditional lenders such as banks. Even the Scottish Loan Scheme currently provided by the Scottish Government requires businesses to have been trading for at least two years, which rules out many startup businesses who are seeking finance.
New businesses are often rejected for startup funding because they’re considered a risky investment for a variety of reasons, such as a lack of experience of running a business or perhaps a poorly written business plan. As a credit broker, we work with multiple lenders who are able to provide startup loans to businesses in Glasgow and the rest of the UK.
Small Business Loans
Small business loans are a form of financing that are designed to provide small business support to entrepreneurs in need. A business owner may apply for a small business loan for many different reasons, such as to help with cash flow problems or if they’re considering growing a business.
At For Kredit we work with reputable lenders who are able to provide unsecured business loans in Scotland up to a maximum of £500,000. This form of business finance is flexible and can be used in a multitude of ways to help businesses in Glasgow to perform at their best.