Loans And Funding For Small Businesses Many business owners obtain small business finance loans to keep their businesses running smoothly. Sometimes, they need loans for furniture, construction, renovation, equipment, or to purchase real estate.

	If you need a small business loan, you can go to your bank or apply online with a lender.  Here are a few small business finance companies that you can go to for a loan. EZUnsecured.com With EZUnsecured, you will not have to provide collateral for the small business finance loan that you need.  If you have a good credit rating, you will not have to provide a lot of documentation.  If your credit score is above 700, you will not have to show asset or income documentation.  You can apply on the website or call them to begin the process.  They will give you a free consultation, so you can ask them any questions that you have about their services.  They will refer you to small business finance companies after reviewing your credit history.  They are popular with small business owners, because they match you with more than one lender.  With EZUnsecured, you can expect to hear about the status of your application in 1-3 days, after applying with a lender.  Once you are approved, you will have the funds in 7-10 days.  The interest rates start at 5-9 percent, but it all depends on your credit rating.  They do mention that if you have a bankruptcy or repossession on file, it might be harder to be approved.  However, you can bring in a business partner that has good credit to improve your chances of being approved.  They offer No Doc loans, which means that you might not have to provide proof of income or assets.  Keep in mind that how long you have been in business is not important with No Doc loans.  No Doc loans will provide you with $25K to $100K, depending on your needs and what you qualify for.  You can apply for more than one loan if you need it. ACCION USA ACCION USA is another website that you can turn to for a small business finance loan.  You can apply for $50,000 or less with ACCION USA.  If you have been turned down with banks because of the type of your business, length of time that you have been in business, or because you do not have enough credit history, you can apply with ACCION USA.  In addition, they can help you build good credit.  They report loan repayment to the three major credit bureaus.  Their interest rates start at 8 percent, so they are very popular with small business owners.  Once you apply, you will find out the status of your application in only two days.  If you are approved, you will receive the funds in 5-10 days.  Please note that they have representatives that speak English, Spanish, French, Portuguese, and Creole, and you can expect friendly service with their organization.  They also mention that they can teach you everything you need to know about business management.  You can attend seminars via the web if you like, or find a workshop in your area, and they are an excellent resource for small business information.  If you have been in business for less than 6 months, you can apply for $30,000 or less.  You can also apply for very small loans if you like.  You will be able to pay the funds back over the course of 60 months or less.  Keep in mind that the interest rates are fixed, but you must have enough income coming in to support your monthly loan payments. On Deck Capital On Deck Capital is another website that handles small business finance loans.  Their application is short, and you can expect to receive a decision in 2 business days.  If you are approved, you will have the funds in 5 days.  Loans start at $5,000, and $100,000 is the maximum that you can apply for.  If you are approved, you will need to pay the funds back in 6-12 months.  If you are interested, apply on their website.  A loan specialist will return your call in one business day.  If you have enough money coming in and your credit score is not perfect, you can still obtain a small business finance loan with On Deck Capital.  A loan specialist will review your application and information, and recommend a loan option for you.  Once you have repaid a large portion of your small business finance loan, you will be eligible to apply for additional money if you need it.  Keep in mind that there are many small business finance companies on the Internet. Resources And Small Business Finance Tools FoxSmallBusinessCenter.com is an excellent resource for small business information.  Bankrate.com is also a great website and resource of information.  They offer many small business finance tools and calculators.  You can calculate costs for a loan or mortgage.  They also have calculators that will help you pay down your debt.  Their small business finance tools will help you perfect your budget and save for your future. Getting Approved These small business finance companies can help you obtain the capital that you need for your business.  Make sure you compare small business finance companies carefully.  Compare interest rates and loan terms.  Find out if there are any hidden fees before you apply.  If you are worried about qualifying for a small business finance loan, you can create a business plan that shows how much you need, what you will do with the funds, and how you will pay it back.  You can include the cash flow projections to show what you expect to make with your business.  If you are not approved, you can apply with other small business finance companies.  Additionally, you can work on improving your credit score and try again later, if you are not approved.  Also, you can offer collateral when you apply for a small business finance loan.  You can use your car or home to secure the loan that you need.  If you have money in your savings account, you can use it for making a payment in advance.  This will increase your chances of being approved.  Good luck!

Bookmark/Share This Page: