Month: August 2021

Getting a Start Up Loan with a Good Credit Score

Many new business owners require start up loans to get their businesses moving.  When it comes time to qualify for a start up business loan, your credit score is one of the top factors that lenders consider. So what role does your credit score play in getting a start up business loan as a business owner?

Defining Good Credit

A good personal score to get a start up business loan is 720 and above. A good business credit score is 80 or above.

Keep in mind, the various business credit bureaus may have different scoring systems. Every lender chooses its own standards. So there may be variations in scoring levels. However, the 2020 Small Business Credit Survey (p. 12) by the U.S. Federal Reserve Banks lays out the general rule for the small business lending industry:

Low credit risk: 80–100 business credit score or 720+ personal credit score.

Medium credit risk: 50–79 business credit score or a 620–719 personal credit score.

High credit risk: 1–49 business credit score or less than 620 personal credit score.

The bottom line is that borrowers who are low credit risks get the most choices of loan products and the best terms and borrowers who are high risk have few choices and will pay the most. 

Can Business Owners Get Start Up Loans with a 600 Credit Score?

But what if a business owner has a credit score that is less than 720? What if it is 600 or lower? Well, getting a start up business loan with a credit score below 700 is difficult. 

So what can be done? If getting a start up business loan isn’t time sensitive, then business owners can improve their credit score enough to get out of the high risk category. That’s the best long-term option. 

Which Credit Score Matters More? Business or Personal?

To get a loan for a business, most lenders will look at both your personal and business credit scores. But a good personal credit score is key.

Remember, a personal credit score and a business credit score are completely different things. They use different scoring systems. Even the credit bureaus are different. Some like Experian report both types of scores. Dun & Bradstreet is strictly business credit reports. A FICO score is a personal score.

Depending on the type of funding you apply for, most lenders will want to check both scores upon your loan application.

Bottom line: most business lenders will want to look at both your personal credit report and business credit report. But personal credit scores remain key.

What Happens if My Credit Score is Low?

If your credit score is low, your small business loan application could be denied altogether. But loan denial is just one of the adverse consequences — there are others. Bad credit scores can result in smaller loan amounts, higher interest rates and fees, and shorter repayment terms. 

What Can You Do?

At Unsecured Finances, our specialty is working with business owners to help them get the best funding options available to them. This includes being honest with you about your options in regards to your credit score and pointing you in the right direction for ways to improve how your business presents itself to lenders. 

Give us a call to speak with our seasoned professionals and get on track for business funding. 

Thinking of Starting a New Business?

Now is the time! With our society ready to get back in action (safely), new business concepts are quickly emerging with creative flows for serving the public without the high risk of spreading the virus. Put your innovative business concepts into play, and connect with us to get the funding you need to start your newest venture!

Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!

Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.

Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584

What you need for a start-up loan


Are you ready to apply for a start-up loan? We have options for you!

Deciding to get a start-up loan for your business is a great choice. Now you need to make sure you qualify for a start-up loan and how to make your business appealing in the process. Taking your time to make sure you have all your ducks in a row will ensure that you are getting the best funding options available to you so you can move your business into the game!

Good Credit Score

Lenders prefer to offer their low-rate start-up business loans to borrowers with credit scores above 680 at least. In this climate, we know that although that is not a very high score, that number can be intimidating considering 2020. If you don’t have a great credit score, do not fear. We have options for you to improve your credit so you can apply. Contact our Inquiry Removal Department to discuss ways to remove inquiries that are negatively impacting your credit score. 

Years in Business

Lenders will consider how long your business has been operating. You need to have been in business at least one year to qualify for most online small-business loans and at least two years to qualify for most bank loans. If you haven’t been in business that long, or you are a brand new business, there are still options for you, especially if everything else looks good. Our experts can walk you through that process. 

Do you make enough money?

Many lenders require a minimum annual revenue, which can range anywhere from $50,000 to $250,000. Calculate your revenue and find out the minimum a given lender requires before you apply so you are ready to discuss options that are relevant to your profit. 

Can you afford the payments?

Look carefully at your business’s financials — especially cash flow — and evaluate how much you can afford to apply toward loan repayments each month. Some online lenders require daily repayments, so make sure to factor that in.

To comfortably repay your loan each month, your total income should be at least 1.25 times your total expenses, including your new repayment amount.

Do you have collateral?

You can get secured and unsecured business loans from many lenders. A secured loan requires business collateral, such as property or equipment, that the lender can seize if you fail to repay the loan.

Putting up collateral is risky, but it can also raise the amount lenders let you borrow and get you a lower interest rate.

Lenders may also require a personal guarantee — even for unsecured loans. This means you’ll personally repay the loan if your business can’t, and may let a lender come after things like your house or car in instances of nonpayment.

Thinking of Starting a New Business?

Now is the time! With our society ready to get back in action (safely), new business concepts are quickly emerging with creative flows for serving the public without the high risk of spreading the virus. Put your innovative business concepts into play, and connect with us to get the funding you need to start your newest venture!

Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!

Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.

Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584

Are You Using These 4 Marketing Tactics?


There is more to marketing than just using social media. Are you using these vital marketing tactics?

There is so much to marketing that it could make your head spin. But what marketing efforts should you be focusing on right now, besides the basic foundational strategies, like social media and print marketing? Here are 4 tactics that you should be looking into, to grow the marketing strategy for your business.

  1. Content Marketing

As one of the most effective methods of growing audience engagement, developing your brand presence, and driving sales, content marketing is a mission-critical growth method for most businesses. So what is content marketing? 

Content marketing is the development and distribution of relevant, useful content—blogs, newsletters, white papers, social media posts, emails, videos, and the like—to current and potential customers. When it’s done right, this content conveys expertise and makes it clear that a company values the people to whom it sells.

The consistent use of content marketing establishes and nurtures relationships with your prospective and existing customers. When your audience thinks of your company as a partner interested in their success and a valuable source of advice and guidance, they’re more likely to choose you when it’s time to buy.

Content marketing is important because it answers your audience’s questions. With content marketing, you can build trust with your audience, improve conversions, connect with customers, and generate leads. And, in today’s age, customers expect high-quality, consistent content from their favorite brands.

  1. Email Marketing

Marketing your products or services by email can be a fast, flexible and cost-effective way of reaching new customers and retaining existing customers by encouraging repeat website visits.

Email marketing can allow you to create targeted and personalised messages. This can help you to build meaningful relationships with your customers. It can also improve response rates to your direct marketing campaigns.

However, it is important not to overuse email marketing. Receiving marketing emails can irritate people if it is irrelevant, too frequent or unwanted.

  1. Search engine optimization (SEO)

This is one of those buzzwords that you hear used over and over again by marketing professionals and even business owners who are trying to increase traffic to their website. Often, SEO is misunderstood and misused. You see evidence of this in many scams where business claim to get your business to the “Top of Google” after a few weeks with them. This is a ploy that will by easily avoided once you understand the basics of SEO. 

SEO stands for Search Engine Optimization, which is the practice of increasing the quantity and quality of traffic to your website through organic search engine results. 

To understand the true meaning of SEO, let’s break that definition down and look at the parts:

  • Quality of traffic. You can attract all the visitors in the world, but if they’re coming to your site because Google tells them you’re a resource for Apple computers when really you’re a farmer selling apples, that is not quality traffic. Instead, you want to attract visitors who are genuinely interested in the products that you offer.
  • Quantity of traffic. Once you have the right people clicking through from those search engine results pages (SERPs), more traffic is better.
  • Organic results. Ads make up a significant portion of many SERPs. Organic traffic is any traffic that you don’t have to pay for.

Here’s how it works: Google (or any search engine you’re using) has a crawler that goes out and gathers information about all the content they can find on the Internet. The crawlers bring all those 1s and 0s back to the search engine to build an index. That index is then fed through an algorithm that tries to match all that data with your query.

Okay, but what can a business owner do to increase their SEO value? Well, that’s a great question with a very long answer, but we’ll give you some of the 10 basic things that contribute to your SEO value:

  • A Secure and Accessible Website
  • Page Speed (Including Mobile Page Speed)
  • Mobile Friendliness
  • Domain Age, URL, and Authority
  • Optimized Content
  • Technical SEO
  • Reviews
  • Links
  • Social Signals
  • Real Business Information

There’s a lot that goes into SEO, but relevant keywords, images, video and consistent quality content play a big role. A great way to get started is by collecting positive reviews on Google or Yelp. 

  1. Affiliate marketing.

Affiliate marketing is the process of earning money (commissions) every time you promote a company’s products or services and drive a sale. There are many sites that you can use to collaborate with on affiliate marketing strategies, such as:

  • Flipkart Affiliate
  • Amazon Affiliate
  • vCommission
  • eBay
  • HostGator Affiliate
  • Admitad.
  • Nearbuy Affiliate
  • GoDaddy Affiliate

This means that you would mention their products in your marketing and use their specific affiliate link to try and direction potential sales to their pages. If a sale is referred by one of your affiliate links, you earn money. 

On the flip-side, business can give affiliate links to other businesses or influencers to use and incentivize them to market their products for a percentage of the profit. The tricky part is finding businesses or people that are a good fit in this type of collaborative marketing relationship. 

Thinking of Starting a New Business?

Now is the time! With our society ready to get back in action (safely), new business concepts are quickly emerging with creative flows for serving the public without the high risk of spreading the virus. Put your innovative business concepts into play, and connect with us to get the funding you need to start your newest venture!

Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!

Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.

Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584

4 Pros of Getting a Start-Up Loan

We help new businesses like yours to get start-up funding so your business can get moving quickly.

This is the year that entrepreneurs have woken up and started to build on big business ideas and concepts. After experiencing the beginning of this pandemic, they are ready and revving their engines to get moving forward in the business world. So they have a concept for a business, maybe even the team, the plan, etc. But to put all of this in motion and create a solid foundation, there is an investment to be made and a question to be asked, “Should I apply for a Start-Up Loan to get my business rolling?”

Of the many ways that business owners can get the funding they need to start their business – personal savings, family and friends, crowdfunding, etc. – Start Up loans have an advantage to the other options. Let’s look at some pros to getting a start-up loan for your business. 

Working Capital to Start Your Business

This is probably the most obvious pro. You will have the money you need to invest in resources, staff, equipment – perhaps even an office – to make sure your business is ready to go on all fronts. With funding, you can invest in your marketing, a huge element that is vital to making sure your business is a success. There really is no other way to say it, “you’ve got to spend money to make money”. This is where you will start. 

You Remain the Owner

In some situations, if you are borrowing the funding from friends and family, it becomes a matter of sharing the equity in your company with the person or people you are borrowing from. At that point, it is a dicey situation because you are bringing in the opinions of other people who may want to run things a little differently. Getting a Start-Up Loan ensures that you retain ownership of your company so you can run things the way that aligns with your vision. 

It Guards Your Personal Wealth

Start-Up Loans ensure that your personal finances are separate from the business finances. This is incredibly important, even further down the road when the risk builds. Even the most well-planned venture may face obstacles that are out of your control and you need to be careful about mixing personal assets with your business. Getting a Start-Up Loan will help you to keep things separate and reduce risk to your personal finances in the event that something were to happen. 

Woo Hoo! Better Credit. 

When you get a Start-Up Loan, it means that you will start to build credit. Over time, the amount of money that you pay in and being able to show that you are responsible enough to pay things on time will all look good for your credit. Why is this important? Because in the future as your business grows, you may be interested in getting bigger loans to grow your business. Having a good borrowing record will help to prove that you are worthy of handling bigger loans. 

Thinking of Starting a New Business?

Now is the time! With our society ready to get back in action (safely), new business concepts are quickly emerging with creative flows for serving the public without the high risk of spreading the virus. Put your innovative business concepts into play, and connect with us to get the funding you need to start your newest venture!

Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!

Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.

Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584

MENU