Crowd FundingOur most popular type of business loan is crowd funding. We use this in the majority of lending proposals under £250,000 due to the efficient process and timescales involved to secure lending for your business. FREE Review & Quotation
What is crowd funding?
Crowd funding, also known as peer to peer lending, is a business loan. If successful you receive the agreed level of loan funds, repayable over the agreed term. The difference from a bank loan is the source of the funds, they tend to come from private individuals, pension schemes and businesses. However, we use numerous platforms to secure the lending so we do all the work on your behalf.
Crowd funding loan Vs Bank loan
In our experience most banks are not efficient at lending businesses between £25,000 and £250,000. At this level of lending rarely do you have a local business manager and if you do their timescales for this level of loan tends to be 12 weeks plus. Also, invariably, they will need to take a second charge over your house which will also attract disbursements that you will need to pay such as, property valuation and instructing solicitors for legal advice.
With crowd funding the rate you pay is only marginally higher than the high-street banks. For this premium you get decisions in 3 days, funds inside a fortnight and the security for the loan is a personal guarantee, not a direct charge over your house or debenture over your company. Indeed, if you are a tenant you may still be able to borrow through a crowd funder albeit this is normally capped at £50,000.
How do I apply?
Please complete the online application from on this page, this should only take a few minutes to complete in most circumstances. Once you have completed the form a broker from Beacon Finance will be in touch to discuss your requirements in more detail.
What are the timescales to get my loan?
From us submitting your application with lenders, which is usually the same day as receipt, to getting a lenders response is 3 working days. Sometimes additional information is requested but it is very rare a decision takes over one week.
Once we get a crowd funding loan agreed the funds are normally made available and in your account inside one week. In some circumstances we can complete the loan from application to draw down inside 7 days.
If you need immediate funding, please do get in contact as we have other options available.
Rates and fees:
Rates and fees vary dependent on business circumstances. Interest rates start at 8% and go to around 18%, on average a loan is at 10%. We can give you a pricing indication the same working day you apply. Arrangement fees are from 3% to 10% dependent on the loan size and circumstances, these can be added to the loan.
We are happy to provide written quotes based on your business. As an example, this is a pricing illustration for different amounts over different terms:
Loan Query Form
Fill out the below form and a broker from Beacon Finance will get back to you to follow up your query.
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*To be used for illustration purposes only.
Why use Beacon Finance to organise a loan?
With extensive experience in securing SME finance we have the ability to get loans agreed quicker and cheaper than going direct. We use multiple lenders and select the most suitable based on your application. We have secured millions in funding for our clients.
- We offer transparency
- Exceptional Customer Service
- We do all the legwork and Negotiating
- We have relationships with multiple lenders, so we know what they what.
What do I have to pay Beacon Finance?
Nothing. For crowd funding we receive a share of the arrangement fee paid for the loan meaning we are a free service for your business.