There is a huge demand for small business loans and particularly unsecured small business loans. Small Business Funding can help any small business owner find the capital they need without any collateral. We can do this in less than 5 days in most cases so you have the capital you need for expansion, payroll, inventory, or working capital.
Small Business funding has an extensive network of alternative lenders it works with. Each has a specific niche so we can make sure we can accommodate any and all small business owners’ capital requests. We are confident that we can find alternative financing for over 90% of the requests we receive making us the premier choice for your unsecured small business loan needs. Unsecured business loans are difficult to get funding for through traditional bank routes. Banks will always require a personal guarantee or collateral of some sort for any sort of business loan. Often with new businesses, less than 2 years old, they are not in a position to give a personal guarantee or provide collateral. Business performance rather than collateral is what alternative lenders base their underwriting on. While credit can play a role in how much you can receive or how long your repayment terms are, an unsecured small business loan looks at the daily cash flows, deposits, NSF’s and negative days in the banking to help determine the amount one can borrow.
These are considered high risk loans whether you’re a bank or a private alternative lender. Lenders like to have security. Unsecured small business loans do not have any tangible collateral to speak of. The terms will be short and the rates much higher than a bank loan. If you can get a bank loan, that is the best route to take. Otherwise, alternative lenders will provide the funding. Repayments will be a daily ACH out of your business checking account and the rates will be between 19% and 45% on the amount borrowed. Putting these loans to use once you receive them is essential. Do not sit on them otherwise it will defeat the purpose. You should use these unsecured small business loans to solve an immediate unavoidable business issue or to receive an ROI that will dwarf the cost of the money.
Steps To Receive Your Unsecured Small Business Loan