Business Loans for Exercise Equipment Store
Exercise equipment stores looking for loans have a feasible and workable option in the form of private business lenders such as Easy Funding. Generally, when many small businesses are looking for funding they apply to the bank. There are some points that need to be taken into consideration when applying to a bank for business loan for exercise equipment store.
Banks do not generally entertain a whole lot of applications from small and medium business owners. The reasons for this are simple, according to the bank small and medium sized business do not make very secure investments for the bank. As a result of this approximately 90% of all loan applications by small and medium businesses are rejected on various grounds.
The criteria also of banks for qualifications are very stringent, with them following criteria built over decades of best practice methods, which are now largely out dated. A private lender such as Funding Easily is a very different story. The criteria is very practical and feasible for small businesses. Typically, the business needs to be over 12 months old and the minimum gross monthly income needs to be over $15 thousand. In addition to this the owner of the business should not be in active bankruptcy.
The time frames that banks require is very different from the time frames of private lenders. Typically a bank will take a couple of months at least to even reject an application. A private lender can provide a store with the business funding for exercise equipment store in a minimum of 48 to 72 hours from the time of receiving the application.
The differences in funding between banks and private lenders is vast, and while banks do provide loans. These loans are approved more to large corporations and businesses houses. Private lenders generally service the needs of small and medium sized businesses.
The criteria is simple and realistic enabling most small businesses to qualify for it. More information is available on private loans available for small businesses. Contact us and our lending team will be happy to provide you with the information you require, and also assist you with your loan application.
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Exercise Equipment Stores are our main clientele. You Too Are Welcome.