Business Loans for Pet shops
Small businesses such as pet shops require business funding just like any other business, and applying for a business loan may not always go according to the expectations of the business owner. Typically, if a small business owner applies to a bank, there is a very high possibility that they will not be approved for the loan. Banks on the whole reject about 90% of all business loan applications.
There are many features that are associated with a bank funded business loan that simply do not exist with a privately funded business loan. For one banks simply do not prefer to fund small businesses, because they fall into high risk category, and small businesses are not as financially stable as large businesses.
Business loans for pet shops are however easily available with private funders, and the requirements unlike banks are very realistic, suited to small and medium sized businesses. Typically, a bank would require much documentation to process a loan application, and still reject most of the applications. A private funder on the other hand has far more realistic qualification criteria.
Some of these qualifying criteria are the business needs to be at least 12 months or a year old, not less than that. The minimum business gross monthly sales needs to be at least $15 thousand and the business owner should not be in active bankruptcy. Most businesses qualify for this easily and in addition to this, as a private funder who provides business funding for pet shops we do not require collateral security or personal guarantees, like banks generally do.
The time frames within which we can at the soonest get the funds to your business account would be 48 to 72 hours. On the other hand a bank generally takes 2 to 6 months to process a business loan application or reject it.
Contact us if you are looking for a business loan. Our funding team will share the information you require with you, and if necessary will assist you with the application process.
You take care of pets. we take care of your funding needs.