Business Loans for Women's Clothing Store
Women’s clothing stores require business funding just like all small businesses do periodically. To obtain funding when required most small business owners approach the bank. Here most small business owners run into a number of hurdles and obstacles that end their search for business funding.
However, all hope is not lost for small business owners, private funders have very different qualification criteria as compared to banks. While banks are not keen on funding small businesses, private funders do fund small businesses easily. Banks in comparison to small business owners have a list of criteria based on decades of experience, and as a result there are a lot of security criteria in place to protect the investment of banks. In most cases these security criteria are beyond the capability of small businesses.
A private lender such as Funding Easily provides business loans for women’s clothing stores and the qualifying criteria are simple. The business needs to be at least one year old or 12 months, the minimum gross monthly sale of the business needs to be at least $15 thousand, and the owner of the business should not be in bankruptcy.
On the other hand banks require the business statements to reflect healthy deposits and show a strong business income. They also require profit and loss statements, personal financials of the business owners, tax statements and more. All these documents are required to satisfy the criteria that banks have in place. However unfortunately, the criteria that banks maintain are biased against small and medium sized businesses. Banks also require the credit score of the applicant to be at least 700 or above.
On the other hand a private funder such as Funding Easily, really does provide funds easily. With no collateral security and personal guarantees, and even if the credit score of the business owner is poor it is not much of a problem.
For additional information regarding business funding for women’s clothing stores contact our funding team. They will provide you with the information you require and assist you with your funding application if required.
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