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At Wirefund instead of asking customers for personal guarantees, they ask for daily repayments on their loans. And feedback from customers is that it is much easier to fund £50 from a day’s sales than to hold back £1,500 for month end.
Their seven-step online application process takes a matter of minutes to complete. Loans range from £1k-25k, with a 19% flat fee and no extra fees for early repayment. All of which means borrowers can get back to what really matters – running their business.
They have lent out nearly a million pounds in the past four months since launch. Their clients range from schools and gyms to butchers and hairdressers.
Using the eligibility tool, found on the Wirefund website, businesses can work out how much turnover on a monthly they need to have in order to pay back any required loan.
For further information and to apply for this loan funding, please visit the Wirefund website, using the link on the right hand side.