How Can I Get Business Loans with No Collateral?

Have you struggled to find business loans with no collateral down? Traditional lenders are not always willing to give out loans with the owner not having any skin in the game. Whether that means money down or collateral to be held against the loan, lenders want to see what you are willing to put in. But if you are a new business just starting out, you do not always have collateral to put up against a loan. It can also be very risky to your new business if you end up defaulting. Don’t worry, there is another option that does not require collateral at all.

We are talking about a merchant cash advance. This is an option that is similar to many different types of business loans with no collateral down except you have to consider it an advance, not a loan. A merchant cash advance provider is not regulated in the same way that a bank is.

So what is different about a merchant cash advance?

Traditional business loans with no collateral will generally come with strings attached. These strings are tied to the guarantee that the bank is going to get their money back. With a bank, you can choose the option for a business loan with money down or you can take on a higher interest rate due to the higher risk for the lender.

With a merchant cash advance, there are no strings attached. The application process is simple just like the requirements to qualify. And unlike a traditional loan, your payback schedule is unique. With traditional business loans with no collateral and other financing options, you will pay a fixed monthly payment each month until the interest and the principle have been paid off. But with a merchant cash advance, you will pay a fixed daily percentage of your credit card sales. This payback schedule is really appreciated by seasonal businesses. Other businesses that appreciate this type of schedule are companies who see their revenue go up and down based on the different days of the week or month. When a business has a slow period, whether they are a seasonal business or not, they can focus less on how they will come up with the money to pay back a loan and more on how they will continue to grow their business.

How can you apply for a merchant cash advance?

We have made our application process extremely simple. That is because our customers run their own businesses, they don’t need one more complex form or application in their lives. Before you apply make sure you meet our two very simple requirements:

You have been fully operational for at least six months as a business.
You are generating over $10,000 a month in revenue.

If you meet these two requirements you are on track to qualify for an advance from us! Now all you have to do is apply through our online form. After you hit submit, your request will be instantly sent to us. Within 24 hours, we will send you a response that will detail if you have been approved for our funding source. What should be comforting to know is that over 90% of the businesses who apply and meet our two minimum requirements are approved for an advance. Within the approval details, you will learn the amount that we can advance you and the payback percentage.

If you choose to accept our advance, we can get you the cash you need in just 72 hours! How does that sound? Too good to be true? We are happy to say, it’s not.