Wirefund, a provider of quick and simple business loans, today launches in the UK. Created to improve the flow of British business, Wirefund will provide loans to help protect and grow small and medium sized companies by keeping their cash flowing.
Unlike other providers, Wirefund’s loans are not secured against a director’s personal assets. With no personal guarantee required, aspiring entrepreneurs need not risk their homes to build a business. As well as this, Wirefund looks at the bigger picture and considers each business owner personally, so applicants are not evaluated solely by an algorithm.
As a small business itself, Wirefund understand the difficulties SMEs face. That’s why the seven-step online application process takes a matter of minutes. Its 19% flat fee loans are repaid in daily instalments to alleviate the stresses associated with huge end of month bills and no fee is applied to early repayment. All of which means borrowers can get back to what really matters – running their business.
Amit Sankey, Founder and CEO, says: “Small business is the growth engine of the British economy and finance is the fuel. We want to empower SMEs to achieve their ambitions – without the confusing jargon, endless forms and weeks of waiting typically involved in securing a loan.
“Almost half of all small businesses have to close their doors within their first four years of operating, with almost 90% failing because of cash flow issues. This is a shocking reality that we have set-up to put a stop to. By providing quick, simple and understandable loans, we will support the millions of overlooked small businesses that are central to Britain’s economic success, especially during this current period of uncertainty.”
Wirefund provides loans from £1,000 to £25,000 and doesn’t dictate to borrowers how they should spend the money – it can be used for anything a small business might need to grow.