Business & Personal Loan

Unsecured Personal & Business loans Procedure

Great Waves Consultants has access to FCA approved lenders for unsecured personal loans of £ 5,000 to £150,000, unsecured commercial loans from £25,000 to £200,000, secured personal loans up to £200,000 and secured commercial loans more than £3 million. The fund is FCA approved. 


The FCA approved lenders need to know, how much do you intend to borrow, where will the loan be utilized and how can you repay this loan. The average interest for such loan is around 6.5% per annum depending upon your credit history. If you have a poor credit history then the interest rate might shoot up to 14%. This loan is normally given for a maximum period of five years repayable in 60 equal monthly installments by direct debit. Approximate monthly installment for a gross loan of £ 15,000 works out to approximately £ 332/= per month. You need to show us the resources from where you might be able to repay this loan. 

The modus operandi is as follows:
Unsecured Personal Loans
  1. Personal Loan Application Form
  2. Asset & Liability Statement
  3. Data Protection Consent Form
  4. A copy of your passport/driving licence and a current utility bill, dated within 3 months
  5. The last two month’s personal bank statements
  6. Proof of earnings
Unsecured Commercial Loans
  1. Commercial Application Form
  2. Asset & Liability Statements for each Equity Director/Partner
  3. Data Protection Consent Forms for each Equity Director/Partner
  4. A copy of passports/driving licenses and current utility bills (dated within 3 months) for all Equity Directors/Partners
  5. Last three month’s commercial bank statements
  6. Last two years audited accounts (full)
  7. Last two VAT returns (If VAT registered)
  8. Current management accounts, to include P&L, Balance Sheet, Cash Flow
  9. Current forecasts

Once the completed loan documentation has been received, it will be forwarded to FCA approved lenders, who will check the documents and if there are any questions that need clarification, they might call you at that time.


In order to get this loan, the applicant must be a Passport holder, preferably a house owner, be able to show his monthly income [in the shape of bank statements] since the past six months thus proving his ability to repay the same. The lenders need proof of address and all supporting documents. Their processing time is seven days or less after which they will give you a reply if the loan has been approved.

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