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Four easy steps to secure working capital finance
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.
Your ethical alternative to a business line of credit
Get funded up to £500k over 36 months using a socially responsible alternative to a small business loan. Our values-based finance product operates in line with Islamic principles, meaning it's based on a commitment to community. It's also a competitive and accessible method of business finance, highly relevant to today’s commercial marketplace.
Is a business line of credit the best option?
The advantage of a business line of credit is that it's a flexible approach to raising working capital. But depending on your situation, it may not be the most appropriate solution. When you're looking for a substantial injection of capital to fund growth - be it the purchase of inventory, hiring new staff or upgrading your facilities - you could benefit from a finance solution such as ours.
If you're considering a line of credit, our approach could be a more cost-effective solution.
There's no interest on our line of credit alternative
The Qardus business funding product differs from traditional finance because it's interest-free. That's because we operate in line with Islamic finance principles. However, any UK-based business can apply for our finance.We do charge a fee for our finance, which is agreed in advance. This is typically very competitive when compared with the costs of opening and maintaining a line of credit.
Benefits of our business line of credit
Through our business line of credit, you can access funding of between £50,000 and £500,000. Put this to work to develop and grow your business.
Working capital finance to help you
Secure the funding required to implement your business growth plans. Finance up to £500k available over 36 months.
Quick and easy to apply
There's no time wasted on completing a long application. We only want you to give us the details we absolutely require to make a decision.
No assets sought as security
Because our business funding is unsecured, it's not tied to any asset in your business. This speeds the application process and gives complete freedom in how you manage your assets.
Get funded fast
In order to implement your plans you want prompt access to the money. Once your offer is fully funded you get the cash within two working days.
You retain control
You have significant flexibility on how you invest the capital we raise for you, because you're best placed to know where it will be used most effectively.
How finance helps grow your business
Give yourself commercial advantage
When you have a stronger cashflow you're better placed to take advantage of new opportunities when they arise, helping you strengthen your position in the market.
Free up time to plan ahead
Having access to additional finance helps you escape the stress of regular cashflow crises. It helps free up time you can put to more productive use, such as strategic business planning.
What our customers say about Qardus
Testimonials from business owners who've raised money through us. BN
Qardus is a great example of the importance of flexible working capital for asset light businesses such as ours. Without the assets to offer a traditional lender as collateral, micro SMEs are often turned away. Qardus worked with us to understand our strategy and ambitions, and the funding provided will support the investment required to update our data service provider, allowing us to have more control of our central costs.
Athar Ahmad, Founder, Zoomash Limited
How our finance differs from a business line of credit
Discover a cost-effective alternative to a business loan.
There are no interest charges
Our product differs from a line of credit or other form of loan because it is interest-free. Instead, we charge a pre-agreed fee that's taken from the funds raised before they are paid to you.
Ethical alternative to a line of credit
We're committed to a values-based approach to business finance, with the good of the community being at the heart of what we do.
Sharia-compliant business finance
Our business funding is Sharia-compliant, which means it is operated in line with Islamic principles of finance and business.
Crowdfunding solution
We use a proven crowd-funding model to raise finance. This gives you the short-term funding you require, repayable over a term of up to 36 months.
Funding FAQs
What fees does Qardus charge?
We charge an arrangement fee of up to 8% 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 is applied to any repayments that remain unpaid after 3 business days from their due date.
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-ups and sole traders are not eligible)
- Profitable and stable cash flows
- No outstanding CCJ's
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 takes 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, and after you have signed your financing agreement, your financing request will automatically be listed on the marketplace so that registered Qardus investors can review it and 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 a flat profit rate and Qardus fees. The rate (i.e. profit rate based on the commodity murabaha agreement) 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. The rate is applied to the outstanding principal at the outset to calculate the amount due on each repayment date.
Our rates start from around 1.25% per month but can vary depending on the risk profile of the business.What types of financing can a business get on the Qardus platform?
Qardus currently provides the following type of financing:
- Small business (unsecured) financing facility.
- From £50,000 to £500,000 for working capital purposes.
- Tenors from 6 months to 36 months.
- Personal Guarantees (PGs) will be required by the shareholder(s).
Secured vs. Unsecured business financing
Unsecured business financing typically requires a personal guarantee from the shareholder(s). This is a common practice for this sort of agreement in the UK.
Unlike a secured financing agreement, an unsecured facility does not obligate the business receiving the financing to give up collateral (business assets) if the business defaults on payment.
The financing provider 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.