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Currently we have access to a growing number of P2P lending platforms who will allow a company a more “transactional” approach to borrowing money. Directors have to offer up full personal guarantees although in some instances not all of the directors; the company has to have 2 years worth of accounts lodged at Companies House and a minimum turnover of £50,000 per annum.

This is a rapidly changing market however.

Loans are taken over a maximum term of 60 months but the rates can be very keen, starting at an interest rate of 6%.