Business Loans for Towing Service
Towing service providers provide an absolutely essential service to people, and at times such service providers require loans for various purposes. Generally, such businesses require funding to expand their business, working capital, equipment, advertising etc.
On an average almost all small and medium sized business owners who are looking for business loans for towing services, first approach their bank, expecting their bank who possesses all their business financial records to provide them with a loan, however as most of them discover, this is not the case. Banks have numerous reasons for not wanting to provide small business owners with funding. The primary reason is the need to protect their investment, which banks do very seriously. The first priority of the bank is protection of the funds rather than assistance of small and medium sized businesses.
Small business owners, such as a towing service have limited options after the bank rejects their application for a loan. This is nothing to be alarmed at, banks on an average reject almost 90% of all loan applications they receive.
There are other private funding options as well for small business owners, which are very well used as well. Private funders fund hundreds of thousands of businesses every year, and the reason they do this is because the criteria they have is not the same as the banks.
Typically a private funder such as Funding Easily requires no collateral, security or personal guarantees. To make things easier for the applicant of the loan we do not require excellent credit scores either. The fixed criteria which most businesses qualify for are as follows, the business should be at least 12 months old, the minimum gross sale per month of the business needs to be at least or in excess of $15 thousand, and the owner of the business should not be in bankruptcy.
All these easy to meet criteria make it very feasible for a garage to get a business funding for towing services. More information on how to obtain a business loan can be obtained, contact our funding team for any assistance related to the funding or the application process.
We have worked with many Towing Services. Check out your options now.