Apply online in minutes
They tell us about their business using our simple online form.
We approve them based on their business performance. Our soft search does not impact their credit score.
Decision in two days
Your clients get a funding offer in less than 48 hours, if their application is approved.
Receive their funds
Receive the money within 2 days of their offer being funded.
We believe companies should serve their communities and we welcome applications from businesses that share our values. We’re also committed to efficient and sustainable financial intermediation.
Our finance is rated as Sharia-compliant, meaning it’s managed in line with Islamic principles. These principles are based on doing business in a way that benefits the community and avoiding industries that are considered damaging, such as those involving alcohol, tobacco and gambling. These principles also require the avoidance of paying or receiving interest, meaning our business finance is interest-free.
Any UK company can apply for Islamic finance - we do not require that business owners are Muslim. We provide an alternative to a conventional business loan and because it’s based on Islamic principles and certified as Sharia-compliant, our clients can be assured of our ethical approach.
Our finance differs from conventional loans because it’s an interest-free method of raising working capital.
We’re a fast-growing and innovative provider of affordable finance for UK small businesses keen to grow. Through us, your clients can receive funding of between £50,000 and £200,000 to invest in their future.
We don’t ask your clients for collateral, meaning they remain in full control of their business assets. We do require a personal guarantee.
Apply in minutes
Our application process has been streamlined by ensuring we ask only for the information we absolutely need.
Prompt access to cash
The money is in your client’s bank account within two working days of their offer being funded.
Repayment terms of up to 36 months
Repayments are made monthly, and terms range from 6 to 36 months. There are no early repayment penalties.
There are no interest payments. Instead, we do charge a rate (i.e. profit rate) that’s set in advance and a processing fee, which is agreed at the start.
Socially responsible finance
We’re pleased to provide finance for businesses and organisations that make a positive contribution to society. This includes many small and medium-sized firms across many different industries.
It was great working with Qardus for a second time to raise this working capital facility. The additional funding will help support stock control to service the high demand we are currently experiencing. Thank you for making the process from end to end seamless and straightforward, we highly appreciate it.
Shahid Khan, Director, Biomed Care Services
We provide a cost-effective alternative to conventional loans.
There are no interest rate worries
Our finance product is interest-free. We do charge a pre-agreed fee which is taken from the funds raised before they are paid to your client.
Business finance that’s Sharia-compliant
Both Muslims and non-Muslims are welcome to apply for our funding. It will be a particularly attractive option to many Muslim business owners.
Business funding with an ethical edge
The good of the community is central to what we do, meaning our product will appeal to values-based businesses.
We use crowdfunding
Your clients are not borrowing from a single lender. Ours is a crowdfunding solution which gives all the same benefits as a business loan.
We charge an arrangement fee ranging from 5% to 7% that is paid by the small business seeking financing on drawdown of the funds. In practice, it will be retained from the advance.
An administration fee of 15% of arrears may be applied to any repayments that are more than 7 days late.
If your facility is placed into default, we may charge an additional collections charge of up to 15% of the outstanding financing amount at the time of default.
Your application to obtain funding on the Qardus platform can take minutes to complete. Once this is done, our credit assessment team will review your complete application and get back to you within 48 hours (2 working days).If your application is approved, you have agreed to your financing agreement and have set up your Direct Debit, your financing request will automatically be listed on the marketplace so that registered Qardus investors can review it and offer to fund your business. Your financing facility can fund over a period of up to 14 days, although most financing arrangements fund in just a few days. As soon as it's 100% funded your listing will close and we will send you a confirmation email. As long as your financing facility is fully funded before 3pm on any working day, we will transfer the funds into your designated business bank account the same day. (NB: Funds can take up to 3 days to reach your account).
The total cost of your financing facility includes the rate you pay to investors, and Qardus fees. The rate (i.e. profit rate) your business pays back is determined by a number of factors, including the risk band your financing facility is given during our credit assessment process, and the length of repayment term. Your facility will be allocated a risk band once you have submitted your complete application to obtain funding on the Qardus platform.
Qardus currently provides the following type of financing:
Unsecured business loans typically include a personal guarantee. A personal guarantee (when referring to unsecured loans) is a type of unsecured loan agreement.
Unlike a secured loan agreement, an unsecured loan does not obligate the business receiving the loan to give up collateral (business assets) if the business defaults on payment.
The lender may still be able to take your collateral, but not without a court’s permission. It is typical for non-Sharia-compliant businesses to charge a higher interest rate for unsecured loans; whereas secured loans have lower interest rates.