Business Loans for Cookware Shop
Applying to the bank for a small business owner is not as simple or straight forward as most assume. The reason for this is banks don’t want to fund small and medium sized businesses, and don’t really care if they receive applications for that either. Banks are very cautious about losing their investment, and as a result have a very stringent screening process that filters out about 90% of overall business applications they receive.
Small businesses that are looking for business loans for cookware shop need not lose hope though. Private funders such as Funding Easily provide loans with very different and realistic criteria than the banks. It is undoubted that the banks criteria are almost impossible for small businesses to meet, intentionally.
Private funders such as us require different qualification criteria as mentioned here; the business should be at least 12 months old, the gross monthly sale of the business needs to be at least $15 thousand dollars, the business should be active and the business owner should not be in active bankruptcy at the time of application. Also we do not require a high credit score, an average credit score will do. We do not require security, personal guarantees or collateral, making it a very possible feat for a small business to obtain the funding they require.
Banks have a long list of requirements of what we don’t require, and this is based on past experience and an attempt to minimize risk, so to speak. However, risk cannot be mitigated based on stringent criteria, as we know.
Small business owners require funding for their businesses for typically the following reasons; business expansion, inventory, working capital, business expansion etc. And most small businesses require the funds when they require it. This is where we are able to really help out small business owners.
At the quickest we are able to dispatch the funds into the business account of the applicant in 48 to 72 working hours after receiving the application form. Banks on the other hand take anywhere from 2 to 6 months to do the same.
Contact us for more information related to business funding for cookware shops. Our funding team will assist you with information and also filling the application form if required.