There are a couple of ways of getting commercial business funding. You have to determine whether you are going to get secured or unsecured business financing. You can do secured financing if you have assets to secure. You can qualify for a secured SBA loan or line of credit if the assets that you can put up will be accepted by the SBA as real assets.
Some assets include residential real estate, commercial real estate and equipment. Some banks and finance companies will accept other forms of collateral such as; automobiles, paintings, and stocks. It depends on their internal banking charters and how much money they will lend you.
The other way to get small business financing is to get an unsecured business loan. To qualify for an unsecured business loan the primary guarantor will have to have a good personal credit score and own at least 81% of the company. The company will have to be open for at least 2 years. Certain banks and finance companies can use a no doc funding option to give you the financial loan that you need but it depends on your business and the state that your company is located in.
For more information about our products: Call us at 1-888-294-2584 and ask to speak to one of our loan specialists