Ferratum Business offers loans of £2,000 to £50,000 for 6 to 18 months with no security required.
Ferratum Business is a direct lender not a broker.
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.
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.
Whether you recently started a business or need a cash boost to get it to the next level, Ferratum Business could help with a loan of up to £50,000. It’s straightforward to apply via the Ferratum Business website.
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Key features of a Ferratum Business loan at a glance
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 the advertised “representative APR”.
Am I eligible for an Ferratum Business loan?
You should only apply for an Ferratum loan if you’re certain you can meet the repayment terms. Your business must also:
- Have been in operation for more than 12 months
- Have an annual turnover of at least £75,000
- Have offices in the UK (all company owners must also be UK based)
- Have a dedicated business bank account
How can I apply?
- 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.
- Ferratum Business will tell you how much you could borrow. Review your monthly repayment to ensure it is manageable, and the interest rate you are being offered.
- After your loan has been approved, the funds will be transferred to your bank account within 1 business day.
Frequently asked questions