Tag: Loans

Does OnDeck Offer Unsecured Business Loans? #letterpress #business #cards

#unsecured business loans

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OnDeck

Does OnDeck Offer Unsecured Business Loans?

OnDeck loans are secured by a general lien on business assets but are not dependent upon the value of specific assets, unlike traditional bank loans

Interested in financing for your business? Get a true loan decision in minutes with OnDeck.

Many small business owners are interested in a loan or line of credit for their business, but don’t have enough specific collateral that a bank may require, such as real estate, inventory or other hard assets.

Banks generally underwrite loans based on the value of specific assets and take liens on those specific assets. In this way, the bank can significantly reduce its lending risk. This process can be difficult for business owners whose assets are not valued highly by a bank or whose assets are difficult to value or sell.

Why are OnDeck loans different?

OnDeck makes loan approvals to small businesses based on business fundamentals like cash flow, not based on the value of business assets. OnDeck has a proprietary way of determining who it lends to – the OnDeck Score® – which focuses on the overall health of your business. The existence of specific hard assets doesn’t factor in our analysis of business health. When a small business takes a term loan from OnDeck, a general lien is placed on the business’s assets until the loan has been paid off (OnDeck lines of credit are unsecured). The business owner is also required to give a personal guarantee for the loan, but there is no lien on the owner’s personal assets. In this way, business owners can get funding from $5,000 – $250,000 in as fast as one business day without needing a specific amount of real estate, inventory or other hard assets and without needing to have their specific assets appraised and valued.

So if you’re a business owner that has a strong business but you’re not sure about the value of your specific assets or collateral, consider applying with OnDeck and you could get a decision for your business in minutes.

Compare Loan Requirements





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Bad Credit Business Loans #small #businesses

#bad credit business loans

#

Bad Credit Business Loans

Grow Your Business Even with Poor Credit

A poor credit history severely limits your chances of securing a conventional bank business loan. Banks usually deem a business with bad credit history too much of a risk. Even if you somehow manage to convince them of the viability and growth potential of your business, it is highly unlikely that you will be able to acquire funds through traditional means. But, there are still non-traditional lenders who might be willing to offer their assistance. The truth is that bad credit business loans can be found, but the question you must ask yourself is if it is right for your business.

Business Funding Solutions for Businesses with Bad Credit

It is true that bad credit can discourage a traditional lender, but there is still hope for securing financing for your business. Boost Capital offers small business loans that do not carry the burden of a perfect credit history requirement. Your total monthly gross sales and ability to generate revenue plays a more significant role in your approval for funding than your credit score.

A small business loan from Boost Capital could be the answer you have been looking for. This business financing solution has huge advantages for small business owners.

  • Funds are available to you even with poor/bad credit history
  • No need for business plans or extensive financial records
  • Repayment is dependent on your total monthly gross sales
  • Use these funds however you see fit for your business

An important feature of a small business loan is that it does not show up on your credit report as a loan from the bank would. This means that you are free to pursue other financing opportunities.

Put aside your worries about bad credit. Business loans from the bank are not your only option. The flexibility of a small business loan from Boost Capital could be exactly the business financing solution you have been searching for.

For more information on bad credit business loans, click here or call 0800 138 9080 today!

Need a Business Loan?





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Business Loans: Get the Right Financing for Your Business #business #stationary

#small business loans

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Business Loans up to $300K
at rates starting at 5.9% 1

1 Factor rate is the financing cost divided by the loan amount – but that’s not how traditional interest rates work. For example, if you pay 30 cents for a one-year loan of one dollar, your factor rate is 30% but is equivalent to a 55% interest rate! Factor rates can make short-term loans appear less expensive than a traditional interest rate would.

2 These loans require you to repay a fixed amount of interest, so paying off early won’t save you any money. In fact, it can increase your effective interest rate to 200% or more.

3 Payments calculated based on range of interest rates and repayment terms offered, assuming a loan amount of $10,000.

4 Total Annualized Rate shows all costs for one year in a single equivalent interest rate so that you can make apples-to-apples comparisons.

Lending Club is America’s #1 credit marketplace, transforming banking to make it more efficient, transparent and consumer friendly. We operate fully online with no branch infrastructure and use technology to lower cost and deliver an amazing experience.





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Small Business Loans for Veterans #stock #market #update

#veteran business loans

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Small Business Loans for Veterans

Business Loans for Military Veterans and their Spouses

Many Armed Forces veterans choose to become entrepreneurs after exiting the military. 10 percent of small business owners in the United States are veterans of the Armed Forces, employing more than 115 million people, according to the 2010 census. However, like most of their civilian counterparts, many veterans are unable to get the proper financing their businesses need from traditional lenders, like banks, credit unions, or even the government. Having dutifully served our country, it’s time you get the service you and your business deserve.

Whether you’re a military veteran or the spouse of one, you have come to the right place if you are looking for small business loans for veterans. Partnering with National Funding delivers access to affordable and convenient working capital that can be used for a variety of business-related purposes. Whether you own a retail storefront, service business, e-commerce site, or virtually any type of business, we can help you to achieve both your short and long-term financial goals through our assortment of loans, equipment leasing programs. merchant advance options, and credit card processing services .

Get Started Today

Why Consider National Funding for Veteran Business Loans?

Here are a few of the key benefits to partnering with us to finance your veteran-owned business:

  • Reliability and reputation – We have served the small business community for over 15 years, and currently hold an A rating with the Better Business Bureau. We are proud of our 95% customer satisfaction rating, and our featured appearances in respected publications such as Forbes magazine. Over the years we have funded more than $1 billion in small business loans to companies in thousands of different industries across all 50 states.
  • High approval rates – We tend to say “yes” more often than not. Instead of putting yourself through the frustrating process of applying for a loan with a bank or credit union, partner with us and see how our customized alternative business financing solutions have helped tens of thousands of businesses since 1999. Since we underwrite our own loans, we are able to personalize each financing solution for the prospective business. This results in high approval rates – even for high-risk industries.
  • Quick and Easy Process – From start to finish, obtaining the small business capital you need takes only a matter of days. Unlike the drawn out process of qualifying for a business loan through a traditional lender, you’ll be able to apply online or over the phone with us in a matter of minutes. A rapid decision-making process and funding in as few as 24 hours will help you to start using your working capital almost immediately. We will match you with an account manager who has specific knowledge about your industry and will be able to thoroughly uncover your critical business needs.
  • Flexible terms – Unlike one-size-fits-all bank loans, we will custom tailor each financing solution to the business. From determining loan or lease sizes to crafting repayment terms that easily fit within your specific budget, you’ll feel comfortable with your small business loan for veterans. Whether you are looking for an equipment lease, merchant cash advance. or simply a loan to provide needed working capital, you’ll find exactly what you’re looking for – at the terms you need with National Funding.

Small business loans for veterans don’t have to be difficult to obtain. In fact, applying today with National Funding takes only minutes. To begin, simply complete the quick and easy online form. You’ll often receive a lending decision the same day you apply, which means you can begin immediately planning how you’ll use your chosen financial tool to grow your business. Upon receiving all of the required information, we can fund your veteran business loan in as little as 24 hours.

As a business owner, and a veteran, you know how challenging it can be to run your own business – especially if you have an immediate need for business financing. Contact the experts today at National Funding and see just how easy it is to acquire complete small business solutions with affordable and flexible terms.

Instant
Quote

Instantly calculate your personal quote for a working capital loan.

What Our Clients Are Saying

I want you to know, there were several companies I looked at, spoke with, and ultimately 2 that I applied with. I chose National Funding for only one reason You were more concerned with what was right for my business, and much less concerned with landing my account. At Ace Hardware, customer service is our number one asset. We strive every day to exceed our customer s expectations. When I receive that same level as a customer, it is greatly appreciated, so thank you.

I chose National Funding for only one reason You were more concerned with what was right for my business, and much less concerned with landing my account.

WE’RE IN A LEAGUE OF OUR OWN





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Best Small-Business Loans for Veterans 2016 #local #business #listing

#business loans for veterans

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Best Small-Business Loans for Veterans 2016

You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Here’s how we make money .

Finding a small-business loan is a tough task for any entrepreneur. Bad credit, a lack of collateral and limited business history are all obstacles that small businesses may face. Funding can be an even bigger challenge for U.S. military veterans, whose financial history may have gaps because of their time in active service.

Despite these challenges, many veterans decide to become their own boss after serving their country. About 1 in 7 veterans is self-employed or a small-business owner, according to the Institute for Veterans and Military Families at Syracuse University.

To help overcome the financing hurdle, we’ve rounded up some of the best small-business loan options for veterans based on personal credit score:

Small-business loans for veterans if you have a 500+ personal credit score

For startups and younger small businesses, lenders typically base lending decisions on the owner’s personal credit. This could be an issue for veterans who did not get a chance to build their credit during military service.

If your credit is lacking, Kabbage offers a line of credit that does not require a minimum credit score to qualify. You will need, however, at least $50,000 in annual revenue. If your credit score is 500 or higher and your business generates at least $100,000 in annual revenue, you could get a less expensive loan with OnDeck. The lender offers an APR starting at 9%, up to 98%, compared with Kabbage’s 32% to 108%.

Small-business loans for veterans if you have a 600+ personal credit score

For companies with at least one year in business and low revenue starting at $25,000 StreetShares is a good choice, with APR starting at 9%.

If your business is generating at least $150,000 annually, you will get a greater range of financing products with Dealstruck, which offers term loans, an inventory line of credit and an asset-based line of credit. Also, Dealstruck could be a cheaper financing option, with APRs from 10% to 28%, while StreetShares’ APR maxes out at 40%.

Before you apply for a StreetShares loan, find out whether you meet the lender s minimum qualifications.

  • 600+ personal credit score.
  • 1+ year in business.
  • $25,000+ in annual revenue.*
  • No bankruptcies in the past three years.
  • No current tax liens or collections (unless you have proper documentation).

You only need 6 months in business if you have $100,000+ in revenue.
StreetShares is currently unavailable to borrowers in North Dakota or South Dakota.

Before you apply for a Dealstruck loan, find out whether you meet the lender s minimum qualifications.

  • 600+ personal credit score.
  • 1+ year in business.
  • $150,000+ in annual revenue.
  • Breaking even or profitable.
  • Personal guarantee and a lien on business assets required.

Looking to expand? SmartBiz has the lowest borrowing costs among online lenders. The lender provides SBA loans with 7% to 8% APR for businesses with strong finances. With a repayment term of 10 years, SmartBiz is a good choice for purchasing real estate or equipment, refinancing high-interest debt or acquiring another business. Qualifying can be tough, however, since you have to meet the SBA’s stringent requirements (including about a dozen required documents). Lending Club is a good option for expansion capital if you don’t qualify for SmartBiz. You need at least $75,000 in annual revenue to qualify. The company offers competitive rates (8% to 32% APR) and repayment terms of one to five years.

Before you apply for a SmartBiz loan, find out whether you meet the lender s minimum qualifications.

  • 600+ personal credit score.
  • 2+ years in business.
  • $50,000+ in annual revenue.
  • Personal guarantee required.
  • No outstanding tax liens.
  • No bankruptcies or foreclosures in last three years.
  • No recent charge-offs or settlements.
  • Must be current on government-related loans.

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Unsecured Business Loans in the UK #drop #shipping #business

#unsecured business loans

#

Secured and unsecured business loans

Finance to keep your business one step ahead

Thousands of businesses including Motor Factor have accessed affordable finance through Funding Circle. Jason Farrugia used his unsecured loan to open two more distribution outlets for his motor company in Wales.

Loans at Funding Circle

Unsecured loans allow you to borrow money for your business without giving security on any assets. like your home for example. They are a quick and easy way to get an affordable cash injection into your business.

A personal guarantee will be required, which means that you ll be required to pay back the loan if the business is unable to. We do this to protect the investors who lend to you.

If you re thinking of refurbishing your shop or buying stock for next season, your business could borrow up to 200,000 from investors through Funding Circle. It s worth noting that you ll need to have been trading for at least 2 years to apply.

Typically up to 200,000

A secured loan could help you borrow more for your business as you can use business assets as collateral. Put simply, if your business can t pay back the loan in full, the proceeds from the sale of assets can be used to pay off the remaining debt.

This type of loan could be the best option if your business needs a larger amount, as you could borrow anything from 200,000 to 1 million, or 3 million if you re developing property.

The level of security required depends on the value and purpose of the loan.

  • Typically secured against all assets of the business
  • May require a personal guarantee

Property and large assets can also be used as security.

Typically up to 1 million

We also offer a range of small business loans. including working capital, asset finance and property loans for businesses in the property sector. This includes finance for residential and commercial development, commercial mortgages and bridging loans.

If your business needs finance for something else, just tell us in your application.

Typically up to 1 million 3 million for property development

The UK Government is lending 60m to businesses through Funding Circle, alongside thousands of people and other investors.

In March 2013, the Government began lending 20 million to small UK businesses through Funding Circle, as part of its Business Finance Partnership scheme.

In early 2014, the Government-backed British Business Bank Investment Programme decided to invest a further 40 million alongside other investors, to support economic growth by providing more efficient finance to small businesses.

After the success of my first bar, I applied for an unsecured loan to open a second site.

BloodandSand Limited took out an unsecured loan of 100,000 so they could refurbish their new bar.

Read Rufus story Next slide

It s a very simple process and within 10 days the money was there.

BloodandSand Limited took out an unsecured loan of 100,000 so they could refurbish their new bar.

Read Rufus story Next slide

We only use London-sourced products in the bar to support local business

BloodandSand Limited took out an unsecured loan of 100,000 so they could refurbish their new bar.

Straightforward process

The application for business loans is simple:





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Does OnDeck Offer Unsecured Business Loans? #at #home #business

#unsecured business loans

#

OnDeck

Does OnDeck Offer Unsecured Business Loans?

OnDeck loans are secured by a general lien on business assets but are not dependent upon the value of specific assets, unlike traditional bank loans

Interested in financing for your business? Get a true loan decision in minutes with OnDeck.

Many small business owners are interested in a loan or line of credit for their business, but don’t have enough specific collateral that a bank may require, such as real estate, inventory or other hard assets.

Banks generally underwrite loans based on the value of specific assets and take liens on those specific assets. In this way, the bank can significantly reduce its lending risk. This process can be difficult for business owners whose assets are not valued highly by a bank or whose assets are difficult to value or sell.

Why are OnDeck loans different?

OnDeck makes loan approvals to small businesses based on business fundamentals like cash flow, not based on the value of business assets. OnDeck has a proprietary way of determining who it lends to – the OnDeck Score® – which focuses on the overall health of your business. The existence of specific hard assets doesn’t factor in our analysis of business health. When a small business takes a term loan from OnDeck, a general lien is placed on the business’s assets until the loan has been paid off (OnDeck lines of credit are unsecured). The business owner is also required to give a personal guarantee for the loan, but there is no lien on the owner’s personal assets. In this way, business owners can get funding from $5,000 – $250,000 in as fast as one business day without needing a specific amount of real estate, inventory or other hard assets and without needing to have their specific assets appraised and valued.

So if you’re a business owner that has a strong business but you’re not sure about the value of your specific assets or collateral, consider applying with OnDeck and you could get a decision for your business in minutes.

Compare Loan Requirements





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Bad Credit Business Loans #financing #a #business

#bad credit business loans

#

Bad Credit Business Loans

Grow Your Business Even with Poor Credit

A poor credit history severely limits your chances of securing a conventional bank business loan. Banks usually deem a business with bad credit history too much of a risk. Even if you somehow manage to convince them of the viability and growth potential of your business, it is highly unlikely that you will be able to acquire funds through traditional means. But, there are still non-traditional lenders who might be willing to offer their assistance. The truth is that bad credit business loans can be found, but the question you must ask yourself is if it is right for your business.

Business Funding Solutions for Businesses with Bad Credit

It is true that bad credit can discourage a traditional lender, but there is still hope for securing financing for your business. Boost Capital offers small business loans that do not carry the burden of a perfect credit history requirement. Your total monthly gross sales and ability to generate revenue plays a more significant role in your approval for funding than your credit score.

A small business loan from Boost Capital could be the answer you have been looking for. This business financing solution has huge advantages for small business owners.

  • Funds are available to you even with poor/bad credit history
  • No need for business plans or extensive financial records
  • Repayment is dependent on your total monthly gross sales
  • Use these funds however you see fit for your business

An important feature of a small business loan is that it does not show up on your credit report as a loan from the bank would. This means that you are free to pursue other financing opportunities.

Put aside your worries about bad credit. Business loans from the bank are not your only option. The flexibility of a small business loan from Boost Capital could be exactly the business financing solution you have been searching for.

For more information on bad credit business loans, click here or call 0800 138 9080 today!

Need a Business Loan?





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Bad Credit Small Business Loans #business #travel

#bad credit business loans

#

Bad Credit Small Business Loans

Credit scores act as a calling card for small businesses, and the wrong score can make obtaining the proper financing that much more difficult. As all too many small business owners have discovered the hard way, borrowing small business loans with bad credit can be an uphill battle.

Obstacles for Small Business Loans with Poor Credit

Banks and other traditional lenders are constantly looking to reduce risk. The last thing they want is to give money to an individual or business that may not be able to pay it back.

This is why the focus on credit scores has become an integral part of analyzing the risk associated with a borrower, especially in today s more strict economic atmosphere. While obtaining a small business loan has always come with its own unique challenges, financial crises in recent years have put traditional lenders even more on guard.

Still, a bad credit score doesn t stop businesses from requiring an injection of funds from time to time, creating a Catch-22 for many business owners. On the one hand, they need more funds to ensure their business is performing at its best, yet they can t obtain them because their business is dealing with obstacles in the here and now.

National Funding understands how frustrating this can be, and has dedicated itself to making financing options available to business owners of all stripes, even those with less than perfect credit.





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Bad Credit? Where to Find Business Loans #business #loans #bad #credit

#bad credit business loans

#

Credit Cards

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Investing

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Credit Cards

Banking

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Mortgages

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Bad Credit? Where to Find Business Loans

You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Here’s how we make money .

Bad credit is a red flag for lenders. It indicates you’ve either mismanaged your personal finances or fallen on hard times. Either way, lenders see you as higher risk — more likely to miss payments or default on a loan than a borrower with good credit.

Bad credit (defined by FICO as a score of 300 to 629) is one reason loan applications are rejected; the approval rate of business loans from big banks was just 23.3% as of June 2016, according to Biz2Credit. But alternative lenders provide options. They emphasize the strength and operating history of your business rather than your credit. Be sure to carefully compare all of your choices, weighing terms and annual percentage rate.

Here are some options:

Note: If you’re a startup less than a year old, it’ll be tough to find a loan, no matter your credit. Here are financing ideas to help you launch your company.

If your personal credit score is under 500

With a score below 500, your best bet is likely a lender with no minimum credit score. Many lenders require a minimum score to qualify, but Fundbox and Kabbage don’t. Both are good, although pricey, choices for bad-credit borrowers who need short-term working capital up to $100,000. Fundbox, however, is only for businesses with unpaid customer invoices. There’s no minimum revenue with Fundbox and no credit check. For Kabbage’s line of credit, you need least $50,000 in annual revenue and one year in business.

If your personal credit score is 500 or higher

With a personal credit score of at least 500 or 530, you could qualify for OnDeck or BlueVine. OnDeck is for businesses that have at least $100,000 in annual revenue and is better if you need cash for an expansion (such as purchasing equipment or making renovations). The lender reports payment activity to the three credit bureaus, so paying off your loan on time will help build your credit score. If your score is at least 530 and your business has unpaid customer invoices, consider BlueVine invoice factoring.

Good option for:

• Fast cash
• Inventory
• Expansion

• Fast cash
• Working capital
• Businesses with unpaid invoices

500+ credit score
• $100,000+ revenue
• No personal bankruptcies in past 2 years

530+ credit score
• Must have unpaid customer invoices
• $120,000+ annual revenue
• 3+ months in business

If your personal credit score is 600 or higher

Because your score is at least 600, you can turn to Dealstruck or StreetShares for financing. For larger amounts of funding and lower borrowing costs, consider Dealstruck, as it has term loans and lines of credit up to $500,000 with APRs from 10% to 28%. However, you’ll also need strong minimum annual revenue of $150,000 to qualify. If you have $25,000 or more in revenue, StreetShares is an option. Its loans max out at $100,000 with 9% to 40% APR.

Good option for:

• Expansion, inventory purchases
• Businesses with unpaid invoices

• Young businesses
• Veterans

600+ credit score
• $150,000+ annual revenue
• 1+ year in business

600+ credit score
• $25,000+ annual revenue
• 1+ year in business, unless you already have $100,000 revenue (drops to six months)





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