For small businesses looking for retail business loans we provide them with that. Our process and procedure is hassle free and quick. For small businesses who are looking to obtain funding, our process makes it easy, and getting the funding is never the problem. However, we do advise small businesses to be sure about the funding, the purpose of the funding and so on. Reason being, we want to see small businesses doing well, growing and being financially stable. Small businesses make up the spine of the economy and we realize it’s important that they stay healthy financially.
Banks are not interested in funding small businesses because they consider businesses to be high risk investments. As a result of this, they have very stringent qualification criteria in place for small businesses, which most small businesses are unable to qualify for. Due to this reason, over 90% of all small business loan applications are rejected by the banks.
We do provide small and medium sized business with quick small business loans and our criteria are completely different from those of the banks. Our criteria are mentioned below here, and based on these criteria any small business owner can ascertain for themselves whether they qualify for the funding or not.
- The business must be at least 12 months old, and it also must be a running business.
- The owner of the business should not be in any form of active bankruptcy at the time of the loan application. If they were in bankruptcy before, they should be discharged from it before applying.
- The gross income of the business must be at least $10 thousand, or over that amount.
These are the very basic and simple criteria that we have, and based on these criteria almost all small and medium sized businesses can apply for and receive the funding that they require. Also mentioned below here are the other features that make the entire process with us a hassle free and quick process.
We do not ask small businesses for collateral, as our funding is uncollateralized funding, and this is not a part of our qualification criteria. Also we do not require any form of security and personal guarantees either. Banks on the other hand will not provide funding to small businesses without collateral and security etc. Reason being they have no system of uncollateralized funding for small businesses.
Also we do not require high credit scores to provide small businesses with funding for retail business. Credit scores are not part of our qualification criteria, and as a result we often work with businesses whose credit scores are in the low to mid-500s, and we do fund them. Banks on the other hand do not work with businesses whose credit scores are not premium, and would prefer to work with those whose credit scores are in the 700s if possible.
The processing time frames that we have to provide small businesses with the funding they require is also very quick. Typically, we are able to provide the funding at the quickest within 48 to 72 hours from the time we receive the completed funding application. On the other hand the longest it would take us to work on an application is a week to ten days. Banks and other financial institutions who have different qualification criteria would require a lot more time than that, and you could expect a turn-around time of at least a couple of months with them.
For more information related to the small business loans that we provide, contact us. We will provide you with the information you require related to the funding, and also assist you with the application form and procedures. Alternatively, if you would rather fill in the form yourself, simply click on the ‘apply now’ tab and fill in your details there.