Merchant Money launches improved unsecured and secured business loan product

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UK-wide specialist finance provider Merchant Money has made significant changes to their unsecured and secured business loan offering, as it looks to further support UK SMEs during an increasingly difficult trading period.

The new product includes an increased maximum loan amount and longer loan term.

Merchant Money’s CEO Luke Jooste commented:

‘UK SMEs continue to face an extremely difficult trading environment and we want to support them as much as we can.

Almost half of UK SMEs plan to take out some form of finance this year, be that for survival or growth.

Yet, despite this, there are fewer lenders in our direct space and there is an overall reduced credit appetite across the market.’

Danny Girnun, Managing Director at Merchant Money added :

‘We are excited to continue our support through our improved products, for the benefit of our introducers and customers alike.’

The changes made to the unsecured and secured business loan product can be summarised as:

Unsecured Business Loans

  • Increased maximum loan size of £250k
  • Increase in interest-only period to 12 months
  • Increased loan term of 5 years
  • Competitive rates

Secured Business Loans

  • Increased maximum loan size of £750k
  • Increase in interest-only period to 24 months
  • Competitive rates

The changes give Merchant Money some of the best access and rates in the UK SME lending space.

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