Commercial lenders are not approving loans like they use to do before the economic downturn. Things have changed. Did you know that the approval rates for business loans have dropped to less than 17%? An business borrow offers many advantages to banks loans. The biggest factor for most is that an business borrow loan has an approval rate over 90%. This article will look at the pluses and minuses of an business borrow versus a bank business loan.
When we mentioned the different approval rates above, keep this in mind. It is not a fact, but more a gut feeling. How many based business owners did not even try to get a bank loan because of bad credit or some other financial reason? I know there were times in my life I wouldn’t even put myself through the rigors of a bank loan because i “knew” there was no way I would be approved. Des that sound logical to you? With that in mind, revisit those approval numbers.
Only 16.9% of those who believed they could qualify for a bank loan got approved. That is staggering. Now over 90% of those with credit issues and the like were approved for an business borrow loan. You may be wondering how we can approve people for an business borrow loan when banks can’t? Good question. The reason is, we do not look for the same things.
Banks look at credit. We all know that much. These days, banks only loan money to people with excellent credit. It helps mitigate their potential loss. I understand that argument. But that does not help out the thousands of Iowans who would like to get cash to build their businesses. An business borrow can and does help the rest of us.
We approve your business based on your revenues. If you have a business that is generating money month in and month out, we can approve you for an business borrow. We are, in essence, advancing you monies you will get in the future. That is how we can overlook things a bank will not. And that is how we can approve you for an business borrow. But there is more for you to know.
Banks also look for collateral. They want to use it to ensure you fulfill your obligation to them. Don’t pay? Lose something of value to them. That can hurt. What if the collateral was an important and expensive piece of equipment? That could grind you to a halt real fast. An business borrow is a safer option. You do not need to put up any collateral. You do not need to guarantee us on a personal level as well. It is really an unsecured loan form. An business borrow is they way to go to keep all of your assets safe.
An business borrow as simple to apply for as it is to get approved for. Here is how it works. You download and fill out a one page application. You fill it out, sign it and send us some banks statement. Done. You have just applied for an business borrow loan. The whole process can be successfully completed in minutes.
We keep it going fast by reviewing and giving you an answer within one business day. We are experienced professionals. We know what to look for and can get you approved faster than anyone else in the industry. We know that time is precious. You have a lot to do to run your based business. We are business owners as well and know the feeling. The process of applying for an business borrow was design with real world business owners in mind.
Business Borrow Loan
Once you are approved, we take the time to go over your options. We do not tell you have it is going to go down. We have a better way. We present you with different options to pay back the business borrow. Not everyone is in the same boat. We get that. We want you to be comfortable with the deal.
Once we have worked out the details, we fund the business borrow loan. We get the money to you in a couple of days. Three on the outside. We understand that you came to us because money would be beneficial to your business right now…not 2 – 3 months from now. Our business borrow loans fund fast.
Would you like to learn more? We offer free advice to any Iowan. We feel that our business borrow programs are a good fit for many of our state’s business owners.