Your Loan Purpose
As an entrepreneur, you want to move forward. Whether it's about investing, pre-financing, making a large purchase, or temporarily needing extra working capital — with a business loan from Swishfund, you can get started right away.
Paying bills
The average time it takes for businesses to pay invoices in the UK is 38.3 days for invoices with 30-day payment terms — even longer with large organizations or government bodies. With a Swishfund loan you can pay your suppliers on time, which keeps them happy, and your credit bureau ratings stay strong, and you maintain control over your cash flow.
Refinancing other debt
Replace an existing loan from another lender with a new one under Swishfund's more favorable terms. We may be able to save you money with a lower interest rate, or help keep cash in the business by extending the term over longer repayment period.
Working capital
Receive funds to help smooth your cash reserves. Our funds can help you pay your tax bills, wages, accountancy bills, insurance or rent. You can use our funds for almost any purpose. Having the cash ready in your bank, gives you the financial strength to manage and grow your business effectively.
And don't forget our preferable early settlement terms, which makes Swishfund the perfect working capital bridge!
Asset Purchase
With a business loan, you can quickly finance a new vehicle, or the machinery your need to compete better and faster. Perhaps you want to buy a new premises to work from, or even another company (yes, we can support business purchases by established business owners and directors). Having the cash available to purchase your assets, helps you work more efficiently, take on more activities, and preserve your cashflow for other business needs.
Marketing
Drive more sales through spending on targeted and intelligent marketing. Invest in a new website, new sales agents, new offices or new channels of marketing. Make sure every £1 you spend brings a multiple return and the Swishfund loan will bring extra value to your business.
Stock purchase
Purchasing inventory can strain your working capital. Inventory financing helps you acquire the stock you need without disrupting your cash flow, enabling you to meet the seasonal demands of the market.
We have already helped 7,000+ entrepreneurs
We are a recognized SME financier and we are proud of that!
We are happy to help you
Do you have questions or need assistance with your business loan application? Our expert team is here to help.
We’re available on weekdays from 9:00 a.m. to 6.00 p.m.
Want to know more?
Once you have accepted an offer from us, there are a few Know-Your-Client steps that we must take, but for loans up to £75k we can have the funds in your bank within a couple of hours of your acceptance. For loans above £75k up to £400k, we can deposit the money into your business account within 48 hours.
The application itself takes 3 minutes. After a working day, we will contact you by email or phone to discuss the first results. Based on this, we may request additional information. We strive to have the money in your business account within 24 hours for loans less than £75k, and within 3 working days for loans up to £400k.
For more information on the application process click here.
You can only use the loan to finance any legitimate business activities. Due to our very favourable early-settlement terms, Swishfund is the“perfect working capital bridge” for your financial needs. You can read more about our loan purposes here.
Yes, you can.
If you wish to make a bulk payment, we can (a) apply those funds to the end of the loan, thereby saving you some interest, or (b) apply those funds to the next few payments, pausing the direct debit until the funds are used up, or (c) reduce the amount of each of your future repayments.
You can always repay the whole of the loan earlier too. We do not charge any early settlement fees, but you still must pay the agreed interest to the end of the calendar month of settlement. We charge interest on a straight-line basis (rather than amortising like many other lenders), which means that we do not front-load the interest, and when you are halfway through the term of a Swishfund loan you will have repaid half of the amount you borrowed.
The cost of your loan comprises a one-off arrangement fee and a monthly interest rate. The amount of these costs is a percentage and therefore depends on the amount you wish to borrow. The arrangement fee is added to the loan, so you do not need to make any payment to have your application assessed or to receive the funds.
The arrangement fee covers our marketing and operational costs. The amount of the arrangement fee may be split with your finance broker, if applicable.
The monthly interest is determined based on your company's risk profile and ranges between 1.1%-3% per month based on the total loan amount. You can read more about how interest is calculated here.
We only provide loan funds to limited companies that are registered at Companies House in the United Kingdom, and that have a business bank account. In addition, our customers must have a turnover of at least £50,000 in the past year, and have filed at least one set of Annual Accounts at Companies House.
For more information on the necessities for a loan application click here.