Ferratum Business loans review

Ferratum Business offers loans of £2,000 to £50,000 for 6 to 18 months with no security required.

Last updated:

compare Ferratum Business at Think Business Loans

Get personalised loan quotes

Save time by checking whether you’ll be approved with multiple lenders and see quotes based on your company and credit score.

Ferratum Business is a division of the European finance company Ferratum Group, which is publicly traded on the Frankfurt Stock Exchange and operates in over 24 countries worldwide. It has offices in Stockholm, Helsinki, Vilnius, Copenhagen, Perth and Liverpool. It’s a direct lender not a broker.

Ferratum Business says it aims to provide loans to companies faster and more often than more traditional financial institutions. There are no interviews or paperwork, and no need to provide collateral as security. Ferratum Business will consider your business’s performance and its ability to make the repayments, as well as its credit rating when making a decision on a loan.

Ferratum unsecured loans at a glance

Loan typeFixed rate unsecured loan
Loan amounts£2,000 to £50,000
Loan terms18 months
Loan rate typeFixed
Funding speedFerratum Business states that approval of the application takes place within approximately one working day, followed by payout the same day
Personal guaranteeA personal guarantee is required
Repayment holiday
Arrangement fee
Early repayment fee
FCA registration number672537
Get quotes
More Info

All Ferratum Business loans are unsecured, meaning you will not have to use any assets such as real-estate as security. You will, however, be asked to provide a personal guarantee for the loan.

Interest rates are fixed for the duration of your repayment period. However, the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, the performance of your business and its credit rating. This may differ from any advertised “representative APR”.

Once you decide to take out a loan, Ferratum Business will charge you a small percentage of the amount you borrow as an “origination” fee.

Am I eligible for a Ferratum business loan?

You should only apply for an Ferratum loan if you’re certain you can meet the repayment terms. You must also have a dedicated business bank account and meet the following eligibility criteria:

Minimum turnover£75,000
Minimum trading requirement12 months
Additional eligibility infoAll owners of your company must be UK residents and it must not be a sole proprietorship.
Get quotes
More Info

How can I apply?

  1. Apply online in just a few minutes by telling Ferratum Business a bit about your company and what you want your loan amount to be. You will need your latest closing of accounts or bank statements from the previous 3 months. You will also be required to send a photo of yourself and a form of ID via your mobile phone.
  2. Ferratum Business will give an initial decision within one working day tell you how much you could borrow. Review your repayment schedule to ensure it is manageable, and the interest rate you are being offered.
  3. After your loan has been approved, the funds will be transferred to your bank account within one business day.

You can repay your loan early at any time – Ferratum won’t charge you for settling early, and you’ll only pay interest for the time the loan is outstanding.

Frequently asked questions

Get personalised loan quotes

Save time by checking your eligibility with multiple lenders and see quotes based on your company and credit.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

Read more on this topic

Go to site