Business Funding in Honolulu
There are thousands of small businesses that require business loans and these apply generally first to their bank. However, most of these applications are rejected because banks view funding small business as a high risk investment. These parameters that banks have related to funding, have been formed over the last few decades based on past experiences, and now banks are more pro funding large businesses and corporations.
Funding Easily provides merchant cash advance loans quickly and easily to its clients. We do not have stringent requirements such as banks and follow realistic approval criteria as mentioned here; the business needs to be at least 12 months old, the owner of the business should not be in active bankruptcy, the business gross sale needs to be at least $15 thousand.
In addition to this we also do not require high credit scores such as banks do, who generally will not work with credit scores less than 700. We provide business loans with poor credit for thousands of small businesses every year. We even fund businesses whose credit score is at times as low as in the mid-500s, without a problem.
Self-employed professionals also have a very tough time getting approved for business loans, this is due to the criteria that banks have in place. We however do also provide business loans for professionals for purposes such as working capital, inventory, equipment, business expansion, advertising etc. To qualify for a loan for professionals the criteria are the same as mentioned above.
We do not suggest that small businesses not try their luck with their local banks, however we do suggest that a small business owner or a self-employed professional should not be closed to other options. The reason for this is because banks end up rejecting 90% of all the funding applications they receive. This leaves a majority of small business owners out of options if it weren’t for the solutions provided by private funders.
To know more about the various kinds of business funding that we offer, you can contact us directly. Our funding team will assist you with information and also provide you with assistance related to the application process.
Honolulu has small businesses in thousands. Check out your options now