Business Funding in Fresno
For all the small businesses in Fresno that require business funding, the natural choice is to go to their bank to apply for a loan. However, as many soon find out this is not as simple as it appears. The primary reason why banks are not interested in funding small businesses is to protect their investments.
As a private funder Funding Easily is one of the key funders which funds thousands of small and medium sized businesses every year. In addition to this we also provide loans for professionals. Professionals just like small businesses have a tough time obtaining a business loan from the bank.
We require no collateral, security and no personal guarantees either, while banks do require every form of security and guarantee they can get.
One of the biggest advantages of working with a private lender for financing is the turnaround time for the funding. Typically, we can process a merchant cash advance in 48 to 72 hours at the earliest, and in a months’ time at the latest. A bank on the other hand would take on an average 2 to 6 months to do the same.
Some of the kinds of loans that we process are for small and medium sized businesses and also business loans for professionals. One of the advantages of applying with us for a business loan is simply that the credit rating of the professional or the business owner is not the key deciding factor. We do work with less than average credit or poor credit scores, and we can work with a credit score in the mid-500s.
Credit scores is one factor that disables many small and medium sized business owners from applying for a business loan. However, since we do not consider credit score as the deciding factor likes banks do, small business owners or professionals can obtain a business loans with poor credit scores as well.
One of the primary reasons banks do not want to fund small businesses Packers24 is because they are viewed as high risk investments. Banks are not keen on getting into high risk investments and as a result have developed a list criteria over the decades based on their experience with bad investments and losses.
We have good experience working in Fresno. See How can we help you.