Business Loans for Tent shop
Small business owners always generally approach the bank when they require funding for their business. However, there are a few aspects of banks loans that many find out after applying. Typically, banks do not approve business loans for tent shop so easily and quickly. The reason for this is due to the criteria that banks have. Over the years banks have developed a list of criteria to protect them from bad investments and loss of investments, this has got nothing to do with funding highly lucrative projects. Banks base their judgment based on past records always.
Small businesses typically require funding for purposes such as working capital, business expansion, inventory, equipment, advertising etc. These are all genuine purposes that any business would require funding for. A private funder such as Funding Easily funds thousands of such businesses every year. Typically, if a business is looking for a small business loan our requirements are the business be at least 12 months old. In addition to that the minimum business gross monthly sale needs to be $15 thousand or over and the owner of the business should not be in active bankruptcy.
Unlike banks who require a credit score of over 700, we do not require a very high credit score and even a retailer with a poor credit score in the mid-500s can qualify for it. Banks will not work with credit scores that are less than 700.
Time frames is another point that is worth looking into for a small business owner. The quickest we can deliver the funds into a business account after receiving the application is 48 to 72 hours, and the most would be a month. A bank takes anywhere between 2 to 6 months to process a business application and dispatch the funds if approved. Also the rejection ratio of banks is generally close to 90%.
Funding Easily as a private lender processes the funding requirements of most small and medium businesses quickly and efficiently. The rejection ratios are very low, and the funds are dispatched into the business accounts quickly.
For more information related to business funding for tent shops contact us and our funding team will provide you with all the information that you require. In addition to this they will also provide you with assistance with your funding application if necessary.
Tent shops Need Funding from Time to Time. We are Always there for help.