What lenders typically weigh
For this situation, UK SME lenders typically weigh a small set of signals more heavily than others. The strength of each lever affects which lenders will look at the case and what terms you might expect:
- Personal guarantee appetite
- Most unsecured products require a director PG. Refusing a PG narrows the lender pool sharply. Some revenue-based finance providers position as no-PG under specific facility sizes.
- Recent revenue and accounts
- Without collateral, underwriting weighs revenue and affordability heavily. 12+ months of consistent revenue is typically the threshold for larger unsecured facilities.
- Director credit
- Director personal credit carries more weight in unsecured underwriting than in asset-secured products. A clean file materially widens options.
- Sector
- Some sectors (cash-heavy, regulated, adult) are restricted for unsecured. Mainstream B2B and merchant businesses are well-supported.
- Amount-to-revenue ratio
- Unsecured facilities typically cap at 1–3 months of monthly revenue. Larger asks need either secured structures or revenue scale.
Finance types that usually fit this situation
Unsecured Business Loan
Term loan or credit line repaid through fixed instalments.
Merchant Cash Advance
Cash advance repaid as a share of card/POS/platform sales.
Revenue-Based Finance
Growth capital repaid flexibly against future revenue.
Invoice Finance
Funding advanced against unpaid B2B invoices.
Business Credit Card
Revolving credit/charge card for expenses and short-term spend.
UK lenders that often look at this situation
The lenders below publish criteria consistent with this situation. Final approval is always subject to lender underwriting.
iwoca
Business loan / credit line
- Amount
- £1k–£1m
- Speed
- Instant/same-day for many
- Security / PG
- Unsecured positioning
- Data confidence
- High
Funding Circle
Business loan
- Amount
- £10k–£750k
- Speed
- Decision as fast as 1h; funds ~48h
- Security / PG
- PG required
- Data confidence
- High
Fleximize
Business loan
- Amount
- £10k–£1m
- Speed
- Decision as fast as 24h
- Security / PG
- Secured and unsecured
- Data confidence
- Medium
Liberis
Business Cash Advance
- Amount
- £500–£1m; flexi up to £2m via partners
- Speed
- Minutes via partner
- Security / PG
- Not clearly disclosed
- Data confidence
- Medium
Wayflyer
Revenue-based funding
- Amount
- Up to £1m SMB; up to £20m broader platform
- Speed
- 24–48h decision; funds in 24h
- Security / PG
- No PG promoted on SMB page
- Data confidence
- High
Kriya
Selective invoice finance
- Amount
- Up to 90% invoice advance
- Speed
- Within 24h advertised
- Security / PG
- Invoice-backed
- Data confidence
- Medium
Capital on Tap
Business credit card
- Amount
- Up to £250k
- Speed
- Often same-day decision
- Security / PG
- No unsatisfied CCJs in last 12 months; director/shareholder test
- Data confidence
- High
If you can't qualify yet
If unsecured routes aren't returning offers, the issue is usually trading history, revenue scale or credit. Build at least 12 months of consistent revenue and a clean bank-statement record. Consider whether asset finance against vehicles or equipment is a better fit — the asset acts as security and opens lender appetite. Invoice finance is asset-light and worth exploring for B2B businesses. Avoid stacking multiple unsecured applications because declines stack on the credit file. A small platform-native MCA can build a paid-on-time record that helps the next application.
Frequently asked questions
- Do unsecured loans actually require no security?
- No charge over property or specific assets, but almost all UK unsecured lenders require a director personal guarantee. This is a contractual promise to repay personally, not a charge over a specific asset, but it still creates personal exposure.
- What's the largest unsecured UK SME loan available?
- Mainstream digital lenders cap at £250,000–£500,000. Larger amounts (£500k–£2m) are sometimes available but usually start to look like secured or part-secured structures, even where they're marketed as 'unsecured'.
- Are merchant cash advances unsecured?
- MCAs don't take a charge over property or assets, but repayment is contractually tied to card sales and a director PG is usually included. Functionally unsecured in the property-charge sense, but not zero risk.
- Can I get no-PG business finance?
- Rare for term debt but some revenue-based finance providers explicitly market 'no PG' under specific facility sizes. Read the offer carefully — some still include personal liability via separate agreements.
- Is invoice finance considered secured or unsecured?
- It's secured against the invoices themselves rather than property or assets. The lender takes a charge over the receivables ledger but not over your home or other property.