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Four easy steps to unsecured small business funding
Apply online in minutes
Tell us about your business on our simple online form.
Inhouse check
We approve based on your business performance. Our soft search does not impact your credit score.
Decision in two days
You'll get a funding offer in less than 48 hours, if your application is approved.
Receive your funds
Receive the money within 2 days of your offer being funded.
Ethical alternative to small business loans
Small business loans delivered another way
Let us help you get the finance you need. We help ambitious UK-based small businesses raise the money they need to fund growth. Our solutions are not small business loans; they're funding solutions that offer all the same benefits and flexibility. Need funds to improve your cashflow and invest in your future? Talk to us today.
Accelerate growth with our small business loans alternative
Having up to £200k available as working capital can give your business significant commercial advantage. It allows you to budget for growth activities, such as opening new facilities or expanding an existing site. Alternatively, you could invest the money in additional inventory or a marketing program designed to broaden your market share.Our business loan alternative gives you all the same benefits as a traditional bank loan, but it's certified as Sharia-compliant and is not considered to be a loan.
Benefits of our small business loans alternative
Through our small business loan alternative, you can access funding of between £50,000 and £200,000. Put this to work to develop and grow your business.
Growth funding for your small business
Finance of £50k to £200k available, repayable over 36 months. Helping you take your business to the next level.
Apply easily in just minutes
We only ask for the details we absolutely require to make a decision. The application process is as quick and easy as we can make it.
You don't put up assets as security
The funding you receive from us is not tied to any asset in your business. This allows you control over managing your own business assets.
Get funded fast
When your offer is fully funded you receive the money within two working days, giving you swift access to the working capital you need.
You choose where to invest the funds
You know how best to put the money to work in your business in order for it to deliver a good return. You have significant control over the working capital raised.
Give your business competitive advantage
More working capital gives you more opportunities.
With more money available for you to invest in growth activities, you can have more purchasing power at your disposal, which you can use to move fast when an opportunity arises.
Unlock time to plan ahead
Juggling tight cashflow is time consuming and frustrating. With more business finance available, you can put more time into planning for your future.
What our customers say about Qardus
Testimonials from small business owners who've raised money through us.
I was looking for affordable Sharia-compliant financing to support the expansion of my niche healthcare consultancy business and Qardus was able to provide a solution which suited my requirements. They were very efficient and professional and their technology platform was great. Overall, an excellent finance provider with no hassle, and I would highly recommend.
Mohammad Yasin, Director My Consultancy Group Limited
How our finance differs from small business loans
Discover a cost-effective alternative to a business loan.
There are no interest rate worries
The Qardus finance product is interest-free. Instead, we charge a pre-agreed fee that's taken from the funds raised before they are paid to you.
Business funding with an ethical edge
We believe in a values-based approach to business funding, where the good of the community sits at the heart of what we do.
Sharia-compliant business finance
Being Sharia-compliant means our finance is in line with Islamic principles of finance and business. It's open to both Muslims and non-Muslims.
We use crowdfunding
We leverage the power of community. You're not borrowing from a single lender; you're benefiting from a community approach that gives all the same advantages as a business loan.
Funding FAQs
What fees does Qardus charge?
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.
Are there any additional costs that could apply to your financing facility?
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.Who can apply for a financing facility?
All UK registered business can apply for financing on the Qardus platform. Businesses must be:- Limited Liability Company with UK registered shareholders
- Minimum of 3 years' trading history (start up's are not eligible)
- No outstanding CCJ's
- Stable cash flows
As Qardus is a sharia-compliant platform, businesses with their main activities in the following sectors are excluded:- Advertising if:
- Advertisers of pork, alcohol, gambling, tobacco and all other non-Islamic activities
- Advertising means and modes which contravene the tenets of Islam
- Media & Entertainment (Exceptions that are allowed on the platform include: News Channels, Newspapers, Sports Channels, Children’s Channels, Educational Channels):
- Producers, distributors and broadcasters of music, movies, television shows and musical radio shows
- Cinema operators
- Alcohol
- Cloning
- Financials, except the following that are allowed:
- Islamic Banks
- Islamic Financial Institutions
- Islamic Insurance Companies
- Gambling
- Pork
- Pornography
- Tobacco
- Trading of gold and silver as cash on deferred basis
How quickly can my business get financing?
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).
What rate will my business pay?
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.
What types of financing can a business get on the Qardus platform?
Qardus currently provides the following type of financing:
- Small business financing facility
- Up to £200,000 for working capital purposes
- Tenors from 6 months to 36 months
- Monthly repayments back to investors
- Unsecured financing facilities (will typically require shareholder guarantees), all asset secured, specific asset secured
Secured vs. Unsecured business loans
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.