Swiftfund: products, terms and eligibility

Swiftfund is a UK provider of unsecured business loans. It is based in Altrincham.

Swiftfund is based in Altrincham, Cheshire (Stamford Street) and offers short-term unsecured business advances across the UK. Its site does not publish a founding date, legal entity or ownership.

Everything on this page comes from what Swiftfund publishes itself. We show the date we last checked it, and we do not rate or rank lenders.

Swiftfund publishes one product for UK businesses. The table above gives the amounts and terms as it states them.

Short term unsecured business advance

Unsecured advances of £10,000 to £1,000,000 over 3 to 12 months. The business chooses the amount and how fast to repay, which sets the total repayable, agreed upfront as a fixed fee. Swiftfund says advances do not tie up business assets, and a personal guarantee is typically required from a shareholder. Existing customers can take a new advance after repaying or top up a part-repaid balance.

Swiftfund says its finance is used for:

• Stock purchases
• Equipment purchase or upgrade
• Marketing
• Hiring staff
• Cash flow management
• Expansion

Sectors and business types it says it funds:

• Hospitality
• Retail
• Manufacturing
• Transport
• Real estate
• Hair and beauty
• Construction
• Contractors

Swiftfund publishes these criteria. Meeting them does not mean an application will be accepted: every lender makes its own decision.

• Minimum turnover of £20,000 per month.
• Operating for at least 6 months.
• 6 months of business bank statements required.
• Copy of ID required.

Swiftfund describes its process like this:

1. Complete the application.
2. Provide 6 months of business bank statements and a copy of ID.
3. Swiftfund assesses the application, including credit bureau searches.
4. Choose the amount and repayment period.

Information it says it asks for:

• 6 months of business bank statements
• Copy of ID

Every application is subject to status and the lender’s own criteria at the time.

An unsecured business loan is a fixed sum repaid in instalments over an agreed term, without a charge over a specific asset. Most lenders still ask the directors for a personal guarantee, which makes them personally liable if the company cannot repay.

Lenders price each loan on the business’s trading history, turnover and credit profile, so the offer you receive can differ from the published range. Compare the total cost in pounds and the repayment pattern, not only the headline rate: our guide on how to compare business loan lenders shows how.

Points Swiftfund publishes that are worth knowing:

• Advances carry a fixed fee agreed upfront rather than an interest rate, according to the FAQ.
• Carries out consumer and company credit bureau searches; says these do not affect credit scores.
• Serves businesses throughout the UK.

Security and guarantees

Advances are unsecured, with no business assets tied up. A personal guarantee is typically required from a shareholder.

The pages we checked do not carry a regulatory statement, so we describe none. Ask Swiftfund how it is regulated and check any claim on the FCA Register.

Protections differ by borrower type and loan size. Most lending to limited companies is not regulated consumer credit, so read the agreement and ask the lender what applies to you.

Other providers of unsecured business loans with profiles here include Swishfund, iwoca and Nucleus Commercial Finance. Each profile uses that lender’s own published terms.

The full list, grouped by product type, is in our directory of UK business lenders.

Capzy is a credit broker, not a lender, and gets paid by the lender. One application lets your business compare options across lenders, so you can weigh this kind of facility against the alternatives. You can check your funding options with a soft search that does not affect your credit score. A full application to a lender may involve a hard search, and any offer is subject to status and lender criteria.