| Representative APR | Amount | Term | Type |
|---|---|---|---|
| — | £10k–£500k | — | business |
Best For
Small to medium-sized UK businesses needing rapid funding without extensive documentation.
UK-based businesses requiring immediate funding without the need for extensive documentation or collateral.
365 Finance provides business loans ranging from £10,000 to £500,000 with a 90% approval rate and no security or business plans required.
Pros & Cons
Watch Out
The absence of security could lead to higher interest rates, impacting long-term affordability.
Full Review
If you require funds quickly, 365 Finance’s 24-hour approval time is certainly appealing. The ability to borrow between £10,000 and £500,000 without needing a business plan or collateral is for many businesses. While the 90% approval rate is promising, be aware that this could come with higher costs than secured loans.
The absence of security means that lenders may charge higher interest rates, so it's the total cost of borrowing. Customer service feedback suggests a generally positive experience, but some users report challenges in understanding the loan terms. It's advisable to clarify any uncertainties before committing.
According to the provider's site, there are no hidden fees, but always confirm the details directly to avoid surprises. Ensure you understand the repayment terms and any potential charges for late payments.
What Borrowers Say
Borrower feedback highlights quick access to funds, though some have noted high repayment costs.
