Business Loans for Car wash
Car washes are an essential service provided to commuters. All small and medium sized businesses inevitably require funding for purposes such as expansion, inventory, working capital, equipment and much more.
Private lenders such as Funding Easily are happy to provide small and medium sized businesses with merchant cash advances for car wash. Here the qualifying criteria for small businesses are easy and most small businesses qualify for them. No collateral security and personal guarantees, and the business owner’s credit score does not need to be excellent either, even a mid-500s will do.
Banks do not like to give out loans to small and medium sized businesses for many reasons, primarily being the security of their funds. These are criteria that banks have developed over time based on past experience, much of which is out dated now.
With private lenders such criteria is not taken into consideration, but rather more practical criteria. The age of the business the average income of the business are the primary criteria which ensue that the business is functional.
Banks require a lot of information to satisfy their criteria, before they give out funding. These criteria are created to mitigate the risk bad investments. However, instead of mitigating the risk of bad investment, banks more often than not end up denying funding to businesses that reasonably receive the funding they require.
A great plus point with private business funding for car washes is the fact that these loans can be approved exceptionally quickly. At the quickest the money can be in the applicants business account in 48 to 72 hours from the time of receiving the application form.
For a sure fact banks take a very long time to provide businesses with the funding they require or provide them with an update related to their applications. Typically, a business owner can expect the wait to be a couple of months at the least.
For more information contact us, our funding team will provide you with the information you need and also assist you with your loan application.
Car Wash are in constant need of working capital. Check out your options now