Frequently Asked Questions
Business loans are designed for business purposes, while personal loans are for individual use.
Approval times can vary, but many business loans offer swift approval processes, allowing you to access funds when you need them.
Collateral requirements depend on the lender and the type of loan, but it may include assets or personal guarantees.
Interest paid on business loans is often tax-deductible, providing a potential tax benefit for your business.
While business loans are versatile, it’s best to use them for business-related expenses to maximise their benefits.
Eligibility criteria can vary, but they typically include factors like credit history, business revenue, and time in operation.