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.

Ready to get started with an alternative to business loans with no collateral?

Contact eBusiness Funding now at 305-985-6593 or complete the contact form on this page now.

What are Business Loans without Security?

Have you ever heard of business loans without security? The answer is probably not. As the name eludes, Business loans without security are just unsecured funds. This type of loan does not require the business owner to collateralize their business. Though seemingly advantageous, these loans come with stricter qualifications because of their higher risks.

These loans are great for business owners lacking a down payment or business collateral. But chances are if you are a new business you are not going to be able to get this type of loan from a traditional lender. Considering the risks involved, traditional lender have stringent requirements for business loans without security.  They will want to see proof of a perfect credit history. Not just spotless history but an established one at that.  Most new small businesses lack an established line of credit. Separate from credit, they require you to have a positive history of business growth. You will need at least two years of business history to secure any type of bank loan. If you are a relatively new business, you most likely don’t have two years.

But we are here to tell you there is no need to worry! Alternatives to traditional business loans without security exist for these reasons. Below, we introduce a better option.

This option is a merchant cash advance.

A merchant cash advance is different than a traditional loan. At eBusiness, we are not regulated in the same way as a bank. Instead of loaning you money, we advance you cash. A merchant cash advance is a popular option that has risen in popularity since the lending crisis. As banks continue tightening their lending standards, our alternative lending method has become popularized.

How does a merchant cash advance work?

We have made our process for applying and receiving funding so simple. We hate complex application processes, which is why we’ve simplified ours.

1. Complete our short online form.
2. We will review your application within 24 hours.
3. If you are approved, you will hear from us with an offer within that 24 hour period. Our offer will include:
   • The full amount we are willing to advance you.
   • The fixed daily percentage we will take until the amount has been paid off.
4. Funds are deposited into your account immediately after you accept our offer.
5. Once you have the funding, you can start spending it the way you see fit. We aren’t going to ask for a list of how you plan to use the funds. We trust that you know what it will take to make your business successful.
6. Daily automatic deductions begin once funds are deposited. A daily percentage of your credit card sales are withdrawn until the full amount has been paid back.

Why choose a merchant cash advance?

Our customers love the speed and convenience of Merchant Cash Advances.  Our automated process eliminates the worry of late fees. They also like it because of how quickly we can get them the funds they need. The fast process is great but real freedom comes from knowing that we won’t tell you how to spend this money. We trust that you know what is best for your business and would never micromanage your spending. Usually, there are stricter rules for how to use traditional business loans without security.

Ready To Get Started?

Contact eBusiness Funding now at 305-985-6593 or complete the contact form on this page now.

How Can I Get Business Loans Without Collateral?

Startups and small businesses often experience a tough time putting up collateral for business loans. That is why business loans without collateral were created by different lenders.  But don’t mistake business loans without collateral as free money. Or think that they will be easy to acquire. In fact, a traditional loan from a bank that does not require collateral is actually much harder to get. That is due to the higher risk on the lenders end.

But how can you get traditional business loans without collateral?

A bank is going to have the same requirements for you that they have for a loan that has collateral; expect the stakes are much higher.

You will be expected to have:

• Perfect credit for both your business and your personal life.
  • If your credit history, on either the business end or your individual credit score, has red flags, the bank may find cause to deny you.
• A well-defined business model and plan to grow your business.
  • A bank wants to see that you are in your business for the long haul. They are looking for signs that there is future business potential in your business for them. These opportunities are more for them to continue to grow their relationship with you from a loan standpoint; as well as, a deposit perspective.
  • When considering business loans without collateral, this plan has to be extremely well thought out.
  • Not only will the regular business plan be required but also a detailed plan about how you plan to use the funding that is given to you.

Because of the increased risk in this type of loan product, fewer banks are giving out no collateral loans. But that doesn’t mean you can’t get the funding you need from an alternative source. Alternative lenders are popping up in all aspects of banking. These companies are offering products that allow their clients to borrow money or be advanced funds without holding collateral against the funding source.

So what is an option for business loans without collateral from a non-traditional source?

A merchant cash advance is a product that gives businesses the flexibility they need to grow their business. The benefits of a merchant cash advance provided by eBusiness include:

• We can get you access to the funding you need fast!
  • In just three days we can have the funds you need directly deposited into your bank account. We would love to make this faster; however, the current state of the banking industry requires a three-day pending period.
• Our application process is simple and easy to understand.
  • You aren’t going to find the fine print you find in a bank loan that is confusing and no one understands.
• We are never going to ask for collateral to hold against your funding.
• Our payback period is simple to understand.
  • We will take a fixed daily percentage of your credit card sales until the total amount has been paid back.
• We allow you to use the funds the way you need to grow your business.
  • We will never ask you for a plan of how you plan to spend every dollar we give you.
• We have very simple requirements to meet:
  • Your business must have been operational for over six months.
  • You must be doing at least $10,000 a month in revenue!

At eBusiness, we have a track record of successful funding. We accept over 90% of the businesses that apply for a merchant cash advance through us and meet our minimum requirements. Compare that to a bank which only accepts 25% of those who apply! Don’t wait to start growing your business, apply with us today!

Ready To Get Started?

Contact eBusiness Funding now at 305-985-6593 or complete the contact form on this page now.