Did you know that 8 out of 10 businesses fail within their first 18 months? According to the U.S. Small Business Administration, one of the top reasons for this high failure rate is insufficient capital. Having the right funds in place allows businesses to hit the ground running and invest in the key areas that drive success. Time is critical. So how can you gain quick access to unsecured business funding?
1. Understand the Difference Between Secured and Unsecured Loans
The main distinction lies in collateral. Secured loans require you to offer an asset as collateral in exchange for the loan. Unsecured business loans, however, do not ask for any collateral. This means you can secure the funding you need without putting your personal assets at risk.
2. Check Your Credit Rating
Your credit score reflects your reliability as a borrower. Lenders use it to gauge whether you can repay the loan and if you will make payments on time. With a strong credit score — generally around 700 or higher — you can often secure lower interest rates on an unsecured loan. Be sure to know your FICO or VantageScore rating before applying.
3. Fill Out the Application: No Documentation Required
Traditional banks often demand extensive documentation before processing a loan, which can be time-consuming. UnsecuredFinances.com offers a faster alternative. With our ‘NO DOC’ policy, businesses can get loans within 7 days of submitting their application — no extra paperwork needed. This ensures you receive funding quickly when time is of the essence.
4. What to Expect Once Approved
After your application is processed, you’ll receive clear details about the loan repayment and schedule. Key points to review include:
1. Loan duration (which may range from 5, 10, or 15 years)
2. What will your interest rate be
3. How much will you be paying every month?
In just a few simple steps, you can secure the funding your business needs to grow! With over $10 million in loans already approved, we take pride in helping businesses get the financing they require.
For more information, contact us at our toll-free number, 1-888-294-2584. We’ve empowered thousands of people! Are you next?
