We provide them with business loans in Chicago in a convenient and hassle free manner. Our entire process of applying for a loan and getting approved is simple and user friendly. Banks are not very interested in funding small businesses at all, and consider them to be ‘high risk investments’.
As a private lender, Funding Easily is one of the more popular private lenders available amongst small business owners. Our criteria is simple and reasonable enabling most small businesses to qualify for the funding. Mentioned below here is our funding criteria, based on these you will be able to assess for yourself if you qualify for the funding or not.
- The owner of the business should not be in any form of active bankruptcy at the time of the application for small business loans in Chicago.
- The business must be at least 12 months old or over that age, and a running business as well.
- The business gross income must be at least $10 thousand or over that amount.
These are simple and basic criteria that we have, and as a result of these simple criteria most small businesses are easily able to qualify for the funding. The criteria of banks is very complicated and stringent in comparison to ours, and the amount of paper work and formalities are also a lot more.
The processing time frames that we have are very different to those of banks. Typically, we can provide small businesses with an instant small business loans at the quickest within 48 to 72 hours, and otherwise within 7 to 10 days. Banks on the other hand take anywhere from a couple of months to over that time, as they are in no hurry to provide small businesses with the funding they require.
Credit scores are something that we do not consider to be a part of the qualification criteria. Typically, we work with credit scores that are in the mid to low 500s, and we do fund them. Banks on the other hand require high credit scores as a part of the basic qualification criteria, and would prefer to work with businesses whose credit scores are well above average, and if possible in the 700s.
The loans we provide also come without any form of security, guarantee or collateral, and this is a very handy feature for small business owners. Banks on the other hand do require collateral and security, and do not have a policy of providing business loans without any form of security.
For more information related to the best small business loans contact me. Our funding team will provide you with the information you require, and also assist you with the application process. Alternatively, if you would rather fill in the application form yourself, simply click on the ‘apply now’ tab and fill the form.