Business Loan for Retail Store
Retail business loans who require quick funding need to only look as far as Funding Easily. We can get you that funding in as little as 48 to 72 hours. There are some excellent advantages when it comes to applying for business funding or business loans that we will tell you about here:
1. No collateral
2. No security
3. No personal guarantees
4. Bad credit, no problem
1. Your business needs to be at least one year old
2. Your gross monthly income needs to be at least 10k
Generally the amount a retail business loans will qualify for without any problems is equivalent to one to two months gross sales. However, this is not a rule and even if a business requires more or less than a month’s gross sale.
The advantages of getting a loan from a private lender
There are many advantages of getting the business loan for retail store one requires from a private lender. And these are related to the realistic parameters that private lenders such as, put in place for lending. Typically, Funding Easily does not close its doors to lending to small business owners and we do not consider them to be high risk investments.
The modern economy is a fast paced economy and small businesses are the ones who make up most of the economy today. As a result of the economy being fast paced, there are many opportunities that are available for competing small businesses. That are available for only a very short period of time, or a limited period of time. When these opportunities come up, a small business who had not planned on a retail business loans may require one very quickly.
Now, this is just one scenario, there are many other scenarios such as this where small business suddenly realize they need a business loan for retail store.
Difference in criteria of banks and private lenders
There is a vast difference in the requirements of banks and private lenders such as us when it comes to criteria. Banks require many criteria to be met and this results in much required paper work. Considering that they have criteria that are strict and need to be met before they proceed to the next step.
Banks are not concern with the time frames of the customer. They are focus on ensuring that they are not making a mistake when providing a retail business loans. To do this they need to be sure about their decisions are based on the overall requirements that their policies state. If it takes time, that is not a problem with the bank.
A bank requires a high credit score, typically close to or above 700 on an average to provide retail business loans. If an applicant’s credit score is not up to par with the requirements of the bank. In addition to this the bank does want to see strong deposits, and a profitable business.
Its features like this that uncomplicated the entire review process that a private lender has, and makes it easy for small business with bad credit, no collateral and not very profitable businesses to get a business loan for retail store. Alternatively, you can contact us and our funding team will assist you with more information and assist you with the filling of the application form.
Hassle Free And Easy Application And Processing