There are numerous features that are
associated with the business loans,
banks and private funders offer these and the features are completely different
for each. Generally banks are not in favor of funding small businesses and the
reason for this is simple, banks consider funding small businesses a ‘high risk
investment’.
As a private funder Funding Easily does
provide instant small business loans
to small businesses, and our qualification criteria are simple and practical,
thus enabling small business to qualify for funding. Mentioned below here are
our qualification criteria.
1.
The owner of the business
should not be in any form of active bankruptcy at the time of the loan
application.
2.
The business should be at least
12 months old and a running business for that duration of time.
3.
The gross monthly sale of the
business needs to be at least $10 thousand or over for the business. This would
be before taxes and expenses.
These criteria are very different from
those of banks, and there are many reasons that it is so. Small businesses
generally are unable to qualify for bank loans, no matter how hard they try. In
a way the criteria of banks are designed to weed out those with weaker
credentials. As a result on an average 90% of all small business loan
applications are rejected by banks. On an average banks do not provide fast business loans, and basically
there is no procedure of speed of funding associated with banks.
There are other advantages associated with
the funding we provide for businesses. As mentioned here we do not require high
credit scores. On the contrary we often work with credit scores that are below
average and at times in the mid to low 500s, and we still provide them with instant business loans. Banks on the
other hand require high credit scores and will not entertain an application
whose credit scores are not above average or in the 700s.
To know more about our quick small business loans contact us. Our funding team will
provide you with the information you require. On the other hand you can click
on the ‘apply now’ tab and fill in our easy form yourself.
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