There are almost as many business loan products as there are business loan needs. The greatest challenges are determining what kind of loan you need, and finding the best source for it. Consider unsecured business loans first; they might not be the right product for your situation, but unsecured business loans offer advantages you don’t get from other products, specifically, a faster turnaround on application; retaining control of business assets; and a greater flexibility in approved purposes for the loans.
Real estate, equipment and inventory are the most commonly accepted form of collateral for secured business loans, but they’re the reason applications for secured business loans can take two or three weeks to acquire … or not. Those assets require title searches, appraisals, documentation and detailed inventory. And, in the case of equipment or inventory, their value will be discounted as much as 50%. In other words, you’ll need $100,000 in assets to secure a $50,000 loan.
On the other hand, applications for unsecured business loans can usually be turned around in only two or three days because they’re based on financials and credit scores, a faster, much simpler process. America One Funding Group specialists can help you through every step of the process while helping you secure the financing you need.
Another advantage of taking out unsecured business loans is retaining control of personal and business assets. A building or equipment used as collateral can’t be sold, and if the worst happened, if you were unable to pay back the loan, you wouldn’t lose your family’s home.
Finally, unsecured business loans are often available for purposes other loans aren’t. Lenders sometimes refuse to make a secured loan for business products that may become obsolete or lose value quickly—computer software, cash flow, payroll or advertising are some of the business needs that can’t be obtained with secured business loans. If your ready to apply for an unsecured business loan
then click here
to contact America One Funding Group. They will be with you every step of the way!