Blog: Business Loans
There are numerous small businesses that require a business loans and we provide them with these easily and quickly as well. Getting the loan with us that small businesses require is not a problem at all, however we do ask small businesses to be ‘decided’ about their funding requirements when they apply.
Banks are not interested in funding small businesses as they consider these to be ‘high risk investments’ and as a result they have very stringent qualification criteria. Due to these stringent qualification criteria over 90% of all small business loan applications are rejected by the banks.
We do provide small businesses with the fast business loans that they require, and our qualification criteria are completely different from those of the banks. Based on our reasonable and practical, qualification criteria also mentioned below, most small business owners will be able to qualify for the funding without a hitch.
1. The business needs to be at least 12 months old.
2. The business should be a running business
3. The gross income of the business must be above $10 thousand
4. The business owner should not be in any form of active bankruptcy
These are the practical and simple qualification criteria that we have and based on these any small business owner will be able to ascertain whether they qualify for the funding or not. There are also other features mentioned below that make the entire process quicker and easier.
The processing time frames that we have are very quick. Typically, we can at the quickest provide small businesses with the funding that they require within 48 to 72 hours from the time we receive the fast business loans application. At the latest we will provide the funding within a week or so, and not later than that. Banks on the other hand do not work so quickly and this is due to the fact that they have qualification criteria that are complicated, and involve a lot of paper work.
The credit scores are also not a major concern with us when applying for a business loan, and typically we work with credit scores that are in the low to mid-500s. We do not require high credit scores because these are not a part of our qualification criteria. Banks on the other hand will not work with small businesses whose credit scores are less than in the 700s.
We also do not ask small businesses to provide us with collateral and security, as our funding is unsecured and uncollateralized. Banks on the other hand do require collateral and security and will not work with businesses who cannot provide security of any kind. The easy business loans that we provide are beneficial to the numerous small businesses that do not possess the necessary collateral and security that the banks require.
For more information related to the online business loans that we provide, contact us. Our funding team will provide you with the information you require, and assist you with the application form as well. If you would rather fill the application form yourself, simply click on the ‘get started’ tab and fill in your details there, online.