Is An Unsecured Business Loan Right For You?

Starting a small business is the dream of millions of people. Being able to build a company that you are very passionate about is very fulfilling. One fact that is true in any start up business, is that you need working capital to have long term success. You will basically have two choices when searching for working capital, either a secured or unsecured business loan. Most start up companies do not have items to put up as collateral, such as homes, cars, or property. Because of this fact, an unsecured business loan is an excellent alternative. Let's take at the pros and cons of an unsecured business loan, and see if it's right for your business.

The first thought when obtaining any type of loan is that there is a payback required. Oh yeah, that part. Paying back the working capital that you borrow is all part of the process, but when just starting out in business, you want to minimize the risk to yourself and your business. Here are 4 reasons why an unsecured business loan might make sense.

1: No Collateral: Starting a small business is risky, and you do not want to tie up all of your personal possessions. If for some reason things don't work out, and it happens, with an unsecured loan you will not lose your most valued assets. Many people have started businesses with all of their money and assets tied to it, only to have something go wrong and end up with nothing. 

2:Credit Is Not King: With an unsecured business loan, the most important thing to the lender is your monthly sales, not your credit. This will make it a lot easier for you to qualify for the money you need for business. Let's face it, everyone goes through challenges in life, and often times it affects our credit. The majority of people starting a small business in America have a credit score that is less than 600. That DOES NOT mean that they are not good people, and should not stop them from getting money for their business.

3:Your Choice How To Use The Money: Some business owners need money to expand inventory, buy additional equipment, buy out partners, open a new location, or even to catch up on a few bills. The list of reasons is endless. With an unsecured business loan you are not restricted to what you can use the money for, unlike a secured loan. Small business owners are some of the brightest, most talented people in the business world. It would be a shame to put a box around them and say that they can only use the money for a few certain things. You are creative and long term thinkers, that is why you started a business to begin with! Use the money in whatever creative way you can think of to expand your business.

4: Very Fast Process: An unsecured business loan can be obtained from start to finsh in 5-7 days, not months. There is a very simple one page application, and three months of bank statements that you wil need to provide, takes about 20 minutes. Once you've taken the twenty minutes to apply, you will get an offer within 24-48 hours. Upon accepting the offer, the money is deposited into your bank account with 24-48 hours. With business, your time is very valuable, and you don't want to be spending months chasing down endless amounts of paperwork to apply with traditional banks, , who turn down 88% of all applications anyway.

Maybe you have come to the conclusion that obtaining an unsecured business loan is the right option for you and your business.

At Small Business Capital U.S. we are very passionate about helping small business owners obtain the working capital they need to expand and grow. Click the button below to get a Free- No Obligation Quote, on how much money you can get for your business. We look forward to serving you, and there are never any upfront fees!

Get Free Quote