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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 and interest-free funding for business
Social care and primary care businesses are among those making a positive contribution to our world. As a result, they align well with our values-based approach to business growth funding. We believe companies should serve their communities and we welcome applications from businesses that share our values.
Sharia-compliant business funding
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.
Why does a business use Islamic finance?
Any UK company can apply for Islamic finance, as an alternative to a conventional business loan. Just because the funding is Sharia-compliant does not restrict who can benefit from our ethical approach.
Our finance differs from conventional loans because it’s an interest-free method of raising working capital.
How our healthcare business finance serves you
Secure the working capital you need with our straightforward approach.
Unsecured funding
Get the working capital your business needs without tying up valuable business assets as security. We don’t ask for collateral, leaving you in full control of your assets.
Apply in minutes
Your time is valuable and we don’t ask for very much of it. Our application process is streamlined, because we ask only for what we need, nothing more.
Prompt access to cash
Once your offer is fully funded you will receive the money in your account in 2 days.
You stay in control
It’s important you stay in control of how the funds are used, because you know how best to use them in your business.
Our solution is different from a conventional unsecured business loan. Here’s how:
Interest-free finance
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 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
“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
Ethical unsecured growth funding
Use our unsecured finance to help your healthcare business thrive.
Maintain your growth
Continued expansion puts pressure on cash flow. Boost your available cash through our flexible approach to business finance.
Upgrade your systems
Enhance your quality of service by implementing newer, faster, more efficient processes, software and infrastructure.
Freshen up your image
Strengthen your brand by keeping it up to date, smartening up your team and your premises, and retaining the professional image that builds trust.
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.