Business Funding in Oklahoma City
Oklahoma City, the capital of Oklahoma State is a thriving business center also, apart from its rich heritage. The city’s economy is supported on a foundation of small and medium businesses, and businesses always require business funding to grow and remain competitive.
Generally when small and medium sized businesses require funds they apply for a loan, and this is when they realize that banks do not fund small and medium businesses so quickly. Generally, banks have a long list of criteria which they follow to approve a loan.
Typically, a business needs to have a credit score above 700, with a history of excellent deposits, good profit and loss statements and tax returns etc. As a result of these stringent qualifying criteria, about 90% of small and medium sized businesses do not qualify for business loans. Another drawback is the time banks take to approve or decline an application, which can sometimes run into months. Such time frames do not always suit business owners.
On the other hand business do have the option of applying for small business loans online through private financing. The advantages here are clearly apparent for business, the turnaround time is very quick, with the quickest time frames being 48 to 72 hours to have the money in their business account.
In addition to the quick turnaround times, the criteria to qualify for quick business loans is far easier. Here private lenders such as Funding Easily do not require any form of collateral, no security and no personal guarantees. As a result of these easy qualifying criteria, the majority of applications are approved, thereby providing businesses with a vital service.
Funding Easily as a private funder understands the requirements of small and medium sized businesses, and as such maintains a realistic approach to providing funding to them. The qualifying criteria are designed to meet the reality of the situation and circumstances of small and medium sized businesses.
For more information related to business loans from Funding Easily, contact us by clicking on the link below. Our funding team will be more than happy to provide you with the information you require, and assist you with the loan application as well.
We have worked with many businesses in Oklahoma City. You Too Can Check your options.