Business Loans for Dental Labs
If small business owners did a comparison between bank funding and private funding, it would be very clear to them who it would be better and easier to work with. Typically, banks are not looking to give out funding to small or medium sized businesses. To process an application for a business loan for dental labs a bank would require a high credit score of at least 700, and in addition to this they would also require a lot of documentation.
In comparison a private funder such as Funding Easily requires no collateral, no personal guarantees and no security. Also the credit score of the business or the business owner are not really ground for rejecting the loan application.
A bank on the other hand is not simply satisfied with a high credit score, they require a high credit score and then they also require excellent statements of the business, tax returns, profit and loss statements, personal financials of the business owner and more. These make it very difficult to get approval for funding from the bank for business owners. As a result of these stringent norms, and more over 90% of all small and medium sized business applications are rejected.
For a small business like a dental lab, Funding Easily does provide funding without a hitch. The only criteria we require are the business should be over 12 months old, the gross monthly sales need to be over $15 thousand and the owner of the business should not be in active bankruptcy. These are basic and generic criteria, which almost any small and medium sized business can qualify for.
In addition to this, the time taken by a bank to provide the loan or even a rejection can and usually does run into a couple of months. However, with Funding Easily the quickest we can process a loan is to have the money in your business account within 48 to 72 hours.
For more information related to business funding for dental labs contact us. Our funding team will provide you with the information you need, and they will also assist you with the filling in of the application form if need be.
We have worked with many dental labs. You can also try your options