Business Funding in New Orleans
Small business owners who are looking for business funding are often surprised when their banks turn down their funding requests, or reject their loan applications. There are a number of reasons for this, however one of the primary reasons is banks consider small businesses to be a high risk investment.
Funding Easily is a private lender and our criteria for providing small and medium sized businesses with merchant cash advance loans is very different from banks. Some of the advantages are quick turnaround time, the quickest we can process a loan application is 48 to 72 hours from the time of receiving the loan application. Banks generally take 2 to 6 months to do the same.
Other advantages are the criteria associated with the loan. Our criteria is simple, the business needs to be over 12 months old, the business needs to have a gross monthly sale of at least $15 thousand, and the owner of the business should not be in bankruptcy at the time of application. In comparison banks require a long list of documentation which should all paint a very healthy and profitable picture of the business, if not the application will be rejected.
We provide business loans for professionals and business loans with poor credit also. Most self-employed professionals particularly face obstacles obtaining a loan from the bank. Banks reject approximately 90% of all small business applications they receive.
Professionals are considered to be high risk for the simple reason that the amount of work they do personally determines their income. This is what the banks consider to be a high risk, in the event they are unable to recover their investment. We provide loans for professionals based on our criteria which is reasonable and realistic.
More information can be obtained regarding business loans by contacting us. Our funding team will provide you with information and assist you with the application process also if necessary.
Small business are in constant lookout for funds. Check out your options now