Business Loans for Wood Dealers
Many small business owners generally approach the bank they require funding, and this is the natural first choice of most. While this is a good option for most business owners, there are other options that are also available for them.
Most wood dealers are unaware that their applications are not taken very seriously by banks, and this does not specifically apply to wood dealers, but to all small and medium sized businesses. Business loans for wood dealers is available however this is not specifically provided by banks only. In fact about 90% of all business loan applications are rejected by the banks.
Banks reject small business loan applications mostly because of the decades of experience and as a result criteria they have developed to secure their investments to the best of their abilities. Even if that means rejecting most of the loan applications that come their way. The criteria of banks is strict and the amount of paper work required is basically to satisfy their stringent criteria.
Banks take anywhere from 2 to 6 months to process a loan application, while a private lender can process it as quickly as 48 to 72hours at the earliest or at the most within a month. The time frames are vastly different, and the simple reason for this is because banks want to take their time to ensure that their investments are safe.
As a private lender, the criteria of Funding Easily is very different from banks and simple as well. The business needs to be over 12 months old at the least, the business gross monthly sale should be at least 15 thousand on an average, and this amount should reflect in the business statements, and the business owner should not be in bankruptcy.
Apart from this there is no collateral, security and personal guarantees required from business owners, and even a poor credit score in the mid-500s will work for the funding. As a result most small and medium businesses who require funding can obtain it.
For more information related to business funding for wood dealers contact us. Our funding team will provide you with additional information required and also will assist you with the filling of your application form.
Wood Dealers are our main clientele. Check out your options now