How to get a business loan for small business?

There are numerous small businesses that require an easy business loans, and we provide these to them easily and quickly. The funding that we provide is hassle free and we provide all applicants with us a user friendly, quick and easy experience. These are numerous features associated with the funding that we provide and these make the entire process hassle free for people. 

Getting the funding for a small business owner is not the problem, we give that easily and without a fuss. However, we do ask small business owners to be decided about the funding that they are applying for. The reason for this is important and it’s because the spine of the US economy is made up of small businesses, and as a result the health and success of all small businesses is important to the overall economy.

Banks are not interested in funding small business and as a result they have very stringent qualification criteria in place. The qualification criteria that banks have are so stringent that ultimately over 90% of all small business loan applications are rejected by the banks. Banks prefer to fund big businesses and corporates.

We do fund small businesses and our qualification criteria are completely different from those of the banks. Based on the qualification criteria that we have, most small businesses are able to qualify for the funding that they require easily. Mentioned below here you will find our qualification criteria, and looking at these any small business owner will be able to tell whether they qualify for the fast business loans or not.  

1.       The owner of the business should not be in any form of active bankruptcy that the time of the loan application. If they were in any form of active bankruptcy, they should be discharged from it.

2.       The gross income of the business needs to be at least $10 thousand or over that amount in a month.

3.       The age of the business needs to be at least 12 months old, or over that duration. The business needs to be a running business and not simply a business registered 12 months ago yet to commence operations.

These are the simple and basic qualification criteria that we have, and based on these criteria mentioned above here, any small business owner would be able to ascertain for themselves whether they qualify for the funding or not. Also mentioned below here are some of the additional features that make our funding a very different and far more viable solution for business funding.

The processing time frames that we have to provide small businesses with the fast business loans is very quick. Typically, we can provide them with the funding that they require as quickly as within 48 to 72 hours from the time we receive the completed funding application. What this means is the business owner can take the cash within this period of time, and at the most we would require a week to ten days. Banks on the other hand are in no particular hurry to fund small businesses, and will take a couple of months to go through the paper work they have requested the small business for, as a part of their extensive qualification parameters.

The paper work that we require is also very simple to process the application form. All we require is the last 3 months business bank statements, and we require the application form. Now, anyone would have to agree that that is a very simple list of paper work. Banks on the other hand require everything, the list is just too long to make a quick mention here. This takes them time to sift through. 

Credit scores are not a very big thing with us, typically we work with businesses whose credit scores are in the low to mid 500s and we do still provide them with the best small business loans. The reason for this is simple, the credit scores are not part of our qualification criteria. Banks on the other hand do require good credit scores as a part of their initial qualification procedures. A bank will under no circumstances entertain a loan application where the credit scores of the applicant are not in the 700s.

The collateral is another area where we have different policies with the banks. Our funding is unsecured, meaning we don’t require collateral, security or any kind of personal guarantees, and this is a very good thing for small businesses. The reason for this is because many small businesses do not have the collateral required by the banks and other financial institutions. Banks have no system of lending to small businesses without collateral of any kind.