July 10, 2015 by Walter Roberts

Loans for Businesses : How to Get a Small Business Loan Despite Bad Credit Ratings

Loans for business https://www.youtube.com/watch?v=Tti1IdcXk08
For more info go here:https://www.youtube.com/watch?v=RfugAH2G1xM

For every business owner, it is a major challenge to get approval on a business loan with bad credit. The economic climate makes life difficult for many small businesses, with lower consumer spending and growing pressure from lenders to maintain existing loan repayment schedules. But there are alternative options.

Whether keeping your business afloat or starting a new business, there is finance available from lenders. But while approval is down to the strength of your application and, ultimately, the decision of the lenders, the type of financing sought is down to the applicant. The key choice is between a loan or a line of credit.

Of course, when dealing with business loans or other financial packages, there is no such thing as a nominal amount of money. Getting things started or keeping an operation going requires real financial help, so sums of 0,000 and more are needed. But there are options to securing this kind of funds.

Getting a Startup Loan

Research is always important when approaching a lending institution with the intention of securing a business loan with bad credit. The principal concern is that, whether going to a major bank or a large private lending firm, the relationship will be long term. So, it is best to get all the facts necessary before deciding on a deal.

The main issues that need to be agreed upon are interest rates, repayment schedules, and any additional options that can be activated in the future should the task of repaying the loan become more challenging than expected. It is also worth asking about taking a line of credit instead of a loan to see if their terms are better.

When it comes to approving a business loan to finance a new business however, most lenders are very open to the idea. But they will still want to know the personal credit history of the applicant, as well as details of any previous business experience.

Choosing a Line of Credit

Getting a business loan with bad credit is not always the best option. Certainly, once a loan is approved the pressure to meet the agreed repayment schedule begins. It is not such a comfortable position to be in when starting out, or even developing revenue potential. It is, therefore, worth considering an alternative.

Agreeing a business line of credit can work to your advantage better. This is where a bank agrees to a maximum sum but only interest is charged on the actual amount of funds spent by the borrower. If, for example, 0,000 is granted and the borrower spends just ,000, then interest on that ,000 is charged. The balance can be accessed whenever necessary.

What this means is that interest payments can be kept lower than with a straightforward business loan. This is because no interest is charged on the remaining ,000 until it is spent, while interest is charged on the full loan amount.

Other Key Considerations

There are some other aspects that should be considered before seeking a business loan with bad credit. Not least is the fact that, because of a low credit rating, the interest rate charged on the loan will be high. So, the size of the repayments each month can be quite high too.

The alternative option allows for interest repayments to be kept under better control, if the borrower can control spending initially. Therefore, securing a line of credit is a much more cost-effective.

For this reason alone, more and more businesses are favoring this option ahead of the all out business loan. However, it is essential that the specifics of both options are discussed in detail before agreeing between one of the other with your lender.

Mark Venite is the author of this article and a successful financial advisor with 20 years of experience. He helps people to get approved for Bad Credit Personal Loan and Student Loans with Bad Credit. For more information about his services please visit him at AccessMyLoan.com

Article Source: http://EzineArticles.com/?expert=Mark_Venite

Article Source: http://EzineArticles.com/7338106

July 10, 2015 by Walter Roberts

“How Do I Get A Small Business Loan?” | Why Unsecured Loans Are A Smart Investment

http://HundredsOfCustomers.com/Credit
OR
http://SmartSmallBusinessLoan.com

“How Do I Get A Small Business Loan?”
Why Unsecured Loans Are A Smart Investment
With Justin West

Hello. My name is Justin West, and I’m the founder and CEO of Hundreds of Customers, hyper-local marketing company dedicated to helping small, independent businesses thrive. I wanted to take a moment to share with you how YOU can get a small business loan based on your business’s already existing cash flow, NOT your personal credit history.

You started your business because you had a dream. Maybe it was helping others, maybe it was just being your own boss, maybe it was a beautiful combination of both of those. Now, You’re looking for a small business loan because you understand that money is a tool, and that it can help you continue to grow your business and further pursue your passion.

Whether you want to expand your business, start up another location, or increase your production, hire more staff, embark on a massive marketing campaign, or simply to consolidate your many debts, I’m a big fan of Crediwise.

Whatever the reason, you want to KNOW that you can get a loan without any hassle, and that’s what Creditwise offers (I’ve put a link to their application page below). I’m a fan because when *I* was looking for a business loan, I found out that they understand small businesses. First, they offer “UNSECURED LOANS” (which simply means you don’t need a credit check or collateral – they just LOOK at your business and see that it’s profitable, and then trust that you’re not going to run your business into the ground for a one-time pay off!).

But they ALSO boast over a 95% approval rate for all serious, qualified applicants. That means that, if you’re running a profitable business, and you want to be MORE profitable, there’s no risk! There’s also no hidden fees, and simply submitting your FREE request puts you in no obligation to accept their offer, if you just want to see how much you can get. (for what it’s worth, I’m told that Their average loan is for k.) Again, out of 100 serious applicants, fewer than 5 are turned away, and you can be approved in as little as 48 hours, and funded within 5 business days.

http://www.hundredsofcustomers.com/Credit

Receive up to k in unsecured lines of credit (i.e. NO PERSONAL GUARANTEE) – based instead on the overall profitability of your business.
Receive up to 0k in Govt. Grants that you NEVER have to pay back!

WITHOUT ANY FEES:

No Application Fees
No Back-end Fees
No Origination Fees
No Success Fees
and again, NO Personal Guarantees.

Out of 100 businesses who properly completed the application, only 3 were denied funding, so your odds are VERY good.

Get a Small Business Loan without collateral, credit checks, etc.

Receive up to k in unsecured lines of credit (i.e. NO PERSONAL GUARANTEE) – based instead on the overall profitability of your business.
Receive up to 0k in Govt. Grants that you NEVER have to pay back!

WITHOUT ANY FEES:

No Application Fees
No Backend Fees
No Originaition Fees
No Success Fees
and again, NO Personal Guarantees.

Out of 100 businesses who properly completed the applicaiton, only 3 were denied funding, so your odds are VERY good.

1 1,265 1,266 1,267 1,268 1,269 1,282
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