Updated
Since 2002, Boost Capital has helped businesses across the UK, the US and Canada to expand and grow. Its Small Business Loans require minimal paperwork, and it can approve loans within 24 hours of getting an application.
If your business is more than 2 years old, with an annual turnover of less than £70,000, you are eligible to apply. The funds can be used for any business expense; it’s entirely up to you how you choose to spend the capital.
If your business has been trading for at least 3 years, Nucleus Cash Flow Finance can provide the additional funds for your SME needs.
Boost Capital loans are based primarily on recent trading history and the overall “health” of your business. This means applications can be completed quickly and approval can take as little as 24 hours. Loans are unsecured, meaning you don’t need to offer any assets as collateral.
There are no restrictions on how you spend your Boost Capital loan. Small businesses can benefit in several ways, such as investing in stock, expanding or remodelling, upgrading equipment, improving cash flow or investing in marketing. It’s up to you how you spend the capital.
Before applying for a Boost Capital Small Business Loan it is important to check that it will benefit your business and that you can meet the repayment terms. You will also need to meet the following criteria:
Interest rates will vary depending upon how much you borrow and how long you borrow it for. In addition to this, the individual business circumstances can also impact the interest rate.
While the amount you repay is fixed, the daily or weekly repayment amounts are not rigid. The repayment terms are set in accordance with the cash flow model of each individual business. You will be made aware of the repayment amounts at the outset of your loan and it is always important to take the total cost of the loan into consideration.
If you’ve decided that a Boost Capital loan is the right choice for your business, you can submit your application online or over the phone in minutes. To qualify, you need to provide is a signed application form, proof of your identity and the most recent three months of the businesses bank statements.
The application process is straightforward.
There are many avenues to explore when raising funds for your small business. Make sure you do your research and consider which option is best for you and your company. Some other options include:
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