Business Loans for Night Club
For a small business owner looking for a business loan for night club, the bank most probably will be a disappointing option, as many small business owners are already aware. There are many reasons why banks are not friendly to small business owners looking for loans. The primary reason however is that banks want to secure their investments the best they can, and small banks don’t trust small businesses to be good investment options.
A private lender can deliver the funds that a small business owner requires with a lot less hassle, on time, and with far more realistic criteria that small businesses can actually produce. As a private lender Funding Easily does not require collateral, security, personal guarantees and a high credit score. Any bank on the other hand does require all the following, and they do require high credit scores also, at least 700. This is one of the primary reasons why 90% of all business applications are rejected by banks.
Private lenders make the process of applying for and receiving a business loan feasible and possible for small and medium sized businesses. The criteria that private lenders like us require are that the business needs to be at least 12 months old, and the minimum gross monthly sales of the business should be at least $15 thousand. In addition to this the business owner should not be in personal active bankruptcy.
Other differences between a bank loan and private funding is the speed of funding. Typically, a private funder can provide the funds to the applicant in 48 to 72 hours at the earliest and a months’ time at the latest. A bank on the other hand takes a few months to process the application and the paper work, and at the end of that process it’s usually a few months after they received the initial application form.
More information related to business funding for night clubs can be obtained from our funding team, and they can also assist you with the loan application if required.
Night Clubs are in constant need of funding. You too can Check out your options now