Banks and other financial institutions do
not provide small businesses with the funding they require so easily, as they
consider small businesses to be ‘high risk investments’. As a result of this
over 90% of all small businesses who apply for funding with the banks are
rejected.
Small businesses make up 99.7% of all
businesses in the US, as a result making them into the body of the domestic
economy. We provide small businesses
with the small business loans for women that
they require, and our qualification criteria are completely different to those
of the banks. Mentioned below here are our very simple qualification criteria.
1.
The business needs to be at
least 12 months old
2.
The owner of the business
should not be in active bankruptcy at the time of the application.
3.
The business should be grossing
at least $10 thousand a month
4.
The business needs to be a
running business as well.
These are the basic criteria that we have,
and looking at these criteria almost any small business owner can ascertain for
themselves whether they qualify for the funding or not. Also mentioned below
here are the other features of our funding, such as the speed and simplicity of
the process.
Credit scores are something we don’t
request for much to provide the business funding
for women as they don’t really matter to us
providing the funding. We often work with businesses whose credit scores are in
the low to mid 500s, and fund them. Banks on the other hand do require credit
scores in the 700s to accept a small business loan application.
The processing time frames that we have are
also very quick and typically we will be able to provide small businesses with
the loan for women owned business that
they require as quickly as within 48 to 72 hours from the time we receive the
completed application. At the most we would require a week to ten days to
provide the funding. This is very different from the banks time frames that are
at least a couple of months and over that.
Collateral is something else that we don’t
require and the reason for this is due to the fact that all our funding is
unsecured funding. This is a very beneficial feature for small businesses, many
of whom do not possess the necessary collateral that banks and other financial
institutions require of them.
For more information related to the women owned small business loans that
we provide contact us. Our funding team will provide you with the information
and assistance you require to fill in the application form. Additionally, if
you wish to fill in the form yourself, simply click on the ‘apply now’ tab and
fill in your details there.
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