Digital Marketing Manager | Posted on |
Business Loans in New York
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There are numerous women entrepreneurs who require business funding just like any other business, however banks are not so keen on funding small businesses and there are many reasons for this. We do provide business funding New York and this is because our requirements and criteria are completely different from those of banks.
Typically, banks prefer to fund big businesses and corporations, and the reason they avoid funding small businesses is because small business are considered to be high risk investments. The criteria of banks is very stringent and designed keeping in mind the requirements of big businesses and corporations.
These are very practical and reasonable criteria for small business owners, and enables most small business owners to qualify for the funding they require.
We do not require high credit scores to provide small business loans in New York and this makes our loans very achievable for most small businesses who require them. In many cases we work with businesses whose credit scores are less than average or even in the low 500s. Banks on the other hand prefer credit scores to be above average, and if possible around about the 700s.
There are some other neat features that we have to provide business in funding New York. For example we do not require collateral, security and personal guarantees, as the banks do. The reason for this is because our loans are unsecured loans, and this is a very handy feature for many small business owners. Typically, the bank does require collateral, and the value of the collateral needs to be at least twice the value of the loan amount applied for small business loans in New York.
Our processing time is also very quick, and a small business owner can at the earliest get the funding within 48 to 72 hours from the time we receive the complete application. Banks on the other hand typically, are not in any hurry to provide small businesses with funding.
For more information related to the business loans in New York contact us. Our funding team will provide you with the information you require and assist you with the application as well. Also, if you would like to fill in the application yourself, simply click on the apply now tab and fill in the application.