Need Unsecured Business Funding? Learn This Trick
Have you been thinking about applying for a business loan? Are you overwhelmed by all the options that are currently on the market? Whether you are looking for traditional funding or alternative funding one thing you must know is the difference between secured and unsecured business funding.
What Is The Difference Between A Secured And Unsecured Loan?
Secured business funding is “secured” through the holding of collateral against the loan. That means that when you sign a secured loan with a bank, you will put up collateral. This can be business collateral such as a physical building or equipment. Or it can be a personal asset like your home or boat. If you are to default on the loan, the bank will take control of that asset. Sometimes the asset is worth more than the amount owed on the loan but more often than not the bank will take a loss.
This is why unsecured business funding is a much larger risk to a lender. Unsecured business funding has no collateral that is held against the funding source whether it be a loan or cash advance. It is much riskier for the lender which it often comes with a higher interest rate and extremely high standards to be approved.
Unlike the impossible standards of a financial institution, eBusiness Funding offers our Merchant Cash Advance and Business Cash Advance product through a simple application process. We have a 95% approval rate for those who meet our minimum requirements.
The Requirements:
- Have been in business for a minimum of six months
- Do $10,000 in monthly revenue
A Merchant Cash Advance is a great option for businesses that need working capital quickly. This is one of the many alternative lending options on the market today.
How Are We Different From Traditional Unsecured Business Funding?
- Simple approval process
- If you meet our minimum requirements we can get you approved in just 24 hours.
- Our waiting period is days, not weeks or months!
- Unlike the bank application process which can take weeks to secure funding, through our process, we can get you the cash you need in just three short days!
- No restrictions on how the funds can be spent.
- If you are approved for a bank loan, there will be restrictions on how you can use the money.
- With our cash advance, we are more concerned that you are growing your business in the way that you see fit.
- High approval rate
- A bank loan’s approval rate is one in five applicants.
- We approve over 90% of those who meet our minimum requirements. That is nine out of ten.
How Does It Work?
Within just three days we can get you between $5,000 and $500,000, depending on what you qualify for based on your business history and monthly revenue. After you are approved, we will deposit the cash directly into your bank account. This way you can start using it immediately to help grow your business.
With a Merchant Cash Advance, we do not require a plan of how you will utilize the funding. You understand your business model better than we do. We trust that. We want to see you succeed, that is why you can utilize the funds as you see fit.
Our unsecured business funding does not have a fixed monthly payment. When after you are approved and funded, your business will return a fixed percentage of your daily sales as payment. This draw is completed daily (Monday – Friday) until the amount advanced is paid off. Think about it this way, we don’t make money until you get paid. Because our process is automated, you do not have to worry about forgetting to pay us or receiving a late fee.
Get Started Free
So if you are looking for unsecured business funding to help grow your business, an eBusiness Merchant Cash Advance may be the product for you. Contact us today to explore how we can help you meet your business goals.
There is no fee to apply and it only takes a few minutes.
Call eBusiness at 305-985-6604 or Complete the contact form on this page now.
