In today’s market capital management is increasingly difficult and becomes more challenging everyday.
With conventional lender not approving anymore, more and more business owners resort to the extremes and alternative lending. With the proper guide you can actually achieve the financial freedom you desire. Start-up and existing businesses often find the credit lines a valuable success tool.
There have been many fortune 500 company’s founded and funded in this manner.
Unsecured loans can be thought of as a small business credit card. They consist of multiple, revolving lines of credit, available from $25,000 – $150,000 per borrower. You can achieve higher amounts with multiple borrowers. The funds can be used for working capital, marketing, payroll, franchise fees, equipment, or for that extra cushion should the need ever arise. There are no use of proceeds requirements.
Rather than relying on collateral to secure the loan, lenders look at the borrower’s creditworthiness to determine eligibility, making those with high credit scores and a solid credit history the best candidates for these small business lines of credit. Because no collateral is required, interest rates for unsecured loans are usually higher compared to SBA loans or other forms of small business financing.