No matter what your business, we have the loan options to meet your needs
If you are having difficulty obtaining traditional financing for your business, unsecured business loans may be the perfect answer to your needs. While most traditional small business loans are secured by some form of collateral, our programs are designed for companies who do not have this collateral to pledge. Whether you are just getting started, or simply operate a business with few assets, we can help secure the funding you need to help your business flourish.
How Unsecured Business Loans Work
By completing a basic application and providing 3-6 months of your most recent bank statements, our small business lending specialists will help determine the maximum amount that you are approved to receive. Approvals are typically handled within one hour and funds can be deposited into your bank account no later than the following day. Below, please find answers to some of the more common questions surrounding our unsecured business loan program:
- What are the repayment terms?
Unsecured loans can be repaid anywhere from 3 – 24 months, with the average repayment term falling around 6 months.
- How much can I borrow?
This answer will vary depending on revenue reflected on your recent bank statements, but loan amounts can extend all the way up to $250,000.
- Are there any time in business requirements?
There are no specific requirements other than the ability to provide at least 3 months of bank statements reflecting your revenue.
- What are the interest rates?
The interest rates for unsecured business loans are higher than rates for traditional loans. This is due to the increased risk an unsecured lender faces. However, rates are dependent upon several factors and will need to be determined at the time of application. Oftentimes, rates can be reduced by accepting a longer payment term.
- Are there restrictions on how I can use the funds?
As long as you are using the funds for your business, there are no restrictions. Many of our clients use the proceeds to cover increased overhead as a result of growth or to prevent disruptions to their business when unexpected expenses occur.
- What types of businesses can obtain these loans?
Unsecured financing is available for virtually any business that has been in operation for at least 3 months. Whether you work with other businesses, or consumers, you can qualify for a business loan.
Getting Started with Unsecured Business Financing
If you have additional questions, or would like to begin the approval process, contact us today for a quick discussion of your financial needs. Our specialists are ready to help you find the perfect loan program to fit your unique needs. In most cases, loan approvals can be provided within a matter of minutes, with funding in 1 day or less.
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