Business Loans for Furniture Shop
Funding Easily understands the financial requirements of small and medium sized businesses such as business loans for furniture shop, and caters to such businesses. Traditionally, many small businesses approach banks when they need a loan or funding.
What most are unaware of is the simple fact that most banks are not offering loans to small and medium sized businesses. Generally banks are very concerned about the security of their investments and prefer not to give loans to small businesses.
Some of the requirements of banks to qualify a business for a business loan are a credit score over 700, statements that reflect good deposits and good ending balances, healthy profit and loss statements and tax returns, in some cases the owner’s personal financial details as well and more information. If there is any area of doubt, the bank will reject that application, and this process can take months.
A private lender does not require such stringent criteria, and the turnaround time is generally very quick in comparison to banks. Typically, business loans for office furniture shops can be in the business account as quickly as 48 to 72 hours from the time of receiving the application.
The criteria of a private lender are primarily 2, the office furniture shop needs to be over 12 months old and the minimum gross monthly sales need to be $15 thousand and over. These are simple and practical criteria to meet, and if they a furniture shop can meet these two criteria there is a very high possibility that they will meet all the smaller criteria.
For more information related to how we work or what kind of funding we provide as a private lender, contact us. Our funding team will provide you with all the information you require and will also assist you with the filling in of the application if required.
Furniture Shops need periodic funding for inventory. Check out your options now