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Business finance in four easy steps
Apply online in minutes
Tell us about your business using our simple online form.
Inhouse check
We approve you 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 & Sharia-compliant business funding
We believe business finance should make a positive contribution to our world, whether faith-based, social or environmental. Qardus uses ethical and Sharia screening criteria to ensure successful applications for our finance product align with our values.
Unsecured business finance explained
Your successful trading history is the key that unlocks unsecured business finance. Based on our analysis of your firm’s financial health and our data-driven risk assessment, we offer business finance on an unsecured basis. In short, this finance is not tied to the assets in your business. This allows us to make a positive decision faster, giving you quicker access to the funds you’re looking for.
Why does a business take an unsecured loan?
An unsecured loan gives you faster access to capital that you can put to work in your business. It’s a popular component of the small business finance mix, providing flexibility and convenience. However, because of the interest charges, unsecured loans are not Sharia-compliant. Our funding solution has all these advantages with the additional benefit of conforming to Sharia principles.
Benefits of unsecured business finance
Through our unsecured business loan alternative, you can access funding of between £50,000 and £200,000. Put this to work to develop and grow your business.
How our unsecured business loan alternative works for you
Our Sharia-compliant finance solution offers all the advantages of an unsecured business loan but without being one.
There’s no collateral
This is a huge benefit, because you’re not required to offer any assets as security for the funds. Get the funds your business needs while retaining the flexibility to manage your assets as you choose.
It’s easy to apply
Making it straightforward for business owners to apply means eliminating unnecessary paperwork and process. We ask you for the information we absolutely need, nothing more.
You get the funding fast
Once your offer is fully funded you will receive the money in your account in 2 days. Because it’s unsecured, there are no assets to value or similar hurdles to get in the way.
You decide how to spend the money
It’s your business, so you know where to put the funds to work. As with any other unsecured business loan, you have significant flexibility on how you use it.
How our solution is different from an unsecured business loan:
There are no interest charges
Our finance complies with Sharia principles, which prohibits the charging of interest. Instead, we do charge a rate (i.e. profit rate) that’s set in advance and a processing fee, which is agreed with you 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.
Our customers trust us
Customer stories
Athar Ahmad, Founder, Zoomash Limited
Ethical unsecured business finance
Use our business loan alternative to help your business thrive.
Protect your cash flow
Unexpected costs can disrupt the best laid cash flow plans. Use unsecured finance to boost available cash, allowing you to better adapt to changing circumstances.
Upgrade your equipment
Unlock commercial advantage by implementing newer, faster, more efficient equipment. It could be speedier computers, faster production machines, or better communications gear.
Freshen up your image
Improve the appeal of your business by giving it a more up-to-date image, smartening up your premises and your team. A refresh can help draw in new customers.
Invest in growth
You know where to go for growth. Using our unsecured business finance, you can have the money you need to seize those new opportunities and to thrive.
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 £200,000 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.