We provide small businesses with the funding that they require, and our process is hassle free, easy and quick. Typically banks do not like to provide small businesses with the funding that they require. There are a number of reasons for this, however one of the primary reasons is the fact that banks consider small businesses to be a ‘high risk investment’. As a result of considering small businesses to be high risk, over 90% of all small business loans are rejected by the banks.
We are a private funder and our qualification criteria are completely different from those of the banks. Typically, our funding criteria enable most small businesses to qualify easily for the funding that they require. Mentioned below here are our funding criteria, and these enable small businesses to check and see whether they qualify for the hotel loans.
These are very simple and basic criteria, and every small business owner will need to agree with that. Also these are not nearly as complicated as the banks requirements, which are excessively complicated and can get more so depending on the requirement of the bank. Mentioned below here are the additional features that are associated with the funding, which make the entire process of applying simple and quick.
We do not require collateral and security because our funding is uncollateralized and unsecured funding. This makes the process simple for small businesses because many of them do not have collateral and security to show. Banks on the other hand do always require collateral and security to provide small businesses with the motel loans that they require. Typically, the collateral that banks require is double in value to the funding amount applied for.
We also do not require excellent credit scores, something that is one of the primary criteria’s of the banks. Typically, we provide small businesses with the funding that they require and we work with credit scores that are often in the mid to low 500s. This is because credit scores are not a part of our qualification criteria to provide you with a hotel construction loans, at all as you can see here. Banks on the other hand do require high credit scores, as this is a primary requirement of the banks.
The processing time frames are very different as well between the banks and us to provide a small business loans. Typically, we are able to at the quickest deliver the funding to small businesses within the time span of 48 to 72 hours from the time of the application. And at the most this time frame would not exceed a week to ten days. Banks on the other hand will take at least a couple of months to provide small businesses with the funding, and at the most this time frame would go up.
For more information related to the loan for hotel business that we provide, contact us. Our funding team will provide you with the information that you require and also with the application form and filling it out with the assistance of our professional team. Alternatively, if you would rather fill out and do this job yourself, simply click on the ‘get started’ tab and fill in your details there itself.