Business loans in Louisville
The city of Louisville is home to thousands of small and medium sized businesses, and as businesses grow and expand, they require business loans in Louisville. As many businesses owners already know, getting a business loan is essential as and when required.
Typically, small and medium businesses require loans for purposes such as expansion of the business loans in Louisville, working capital, to purchase new equipment, for inventory purposes, advertising etc. This kind of funding ensures that the business is able to maintain is competitive edge and grow.
There are many business owners who have applied to banks for loans and have learnt that banks do not give out business loans in Louisville easily for small and medium businesses. The reason for this is simple banks want to be very sure that the loans they are giving out are secured loans. To accomplish this banks have a long checklist which they follow, and any loan application that does not meet the criteria are trashed.
As a result of the high rejection ratio of banks for business loans in Louisville application, about 90% of the applications are rejected. Those applications that are not rejected take a fair amount of time to process.
Small Business Loans Louisville
When we compare the difference with private lenders such as Funding Easily, where small and medium sized businesses can apply for small business loans Louisville. There are huge differences in the entire process and the funding. Here small businesses are not limited by poor credit, and even a credit in the mid-500s will do. There is no requirement for collateral, security or even personal guarantees.
Small and medium sized business who apply for small business loans Louisville are able to in some cases get the funding as quickly as 48 to 72 hours in their business accounts. In comparison traditional banks take months to come to a conclusion regarding a loan application.
Some of the basic criteria are associated with the small business loans Louisville are, the applicants business needs to be over a year old at least, and their gross monthly business income needs to be in excess of $15 thousand.
For more information or assistance in applying for a business loans in Louisville, click on the link below which will lead you to our application page. You can also contact our funding team directly who will be happy to provide you with additional information and assistance.
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