Unsecured Business Loan

Why getting an unsecured business loan?

All small businesses endure cash flow shortages from either slow-paying creditors or unexpected payments.

unsecured business loans for small businesses have the advantage of easing these cash-flow burdens.

One of the common myths of applying for unsecured business loans is the time it takes to be approved.

Our team of funding specialists can process your business funding application within 24 to 48 hours.

For instance, you’ll get fast approvals, and funding can take place the same day.

There are a few initial questions our team will ask when determining your business working capital needs.

Get ready for your phone call with us, gather this information ahead of time:

Time in Business:

How long have you been in business? This often differs from the incorporation date if there was an established or set up period.

If your business has operated for less than 1 year compared to 2 or 3 years, the working capital funding amount will be different.

Bank and Credit Card Statements:

Do you have 6 to 12 months of business bank statements?

If your business accepts credit cards, please have at least 3 to 6 months of credit card statements available so we can reconcile the credit card statements with the bank statement deposits.

Bank Account Balances:

Did you know lenders look to ensure balances remain positive each month?

When your business account statements have multiple negative months and multiple days of non-sufficient funds, this will discourage lenders from approving an unsecured business loan.

It is very advantageous to have bank statements with positive balances over a 6 to 12 month period to ensure your funding application is approved.

FICO Score:

Even though we are not FICO driven, coupled with time in business and monthly bank averages, a FICO score will allow lenders to determine if a slightly longer program or a more conservative term is appropriate.

Call us today at 562-231-6945 or email us at [email protected] and let’s work together to find the best way to finance your working capital needs.