What are Business Loans without Security?

Norman
8 years ago

Have you ever heard of business loans without security? The answer is probably not. You may have heard the terms unsecured business loans, no collateral loans, small business loans without a down payment, this list could go on and on. Whatever way you say it, business loans without security are riskier for traditional lenders because the business has less skin in the game so to speak.

If you are a new business and don’t have a down payment for a loan or business collateral you can use, don’t worry. That is why business loans without security exist. 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. This is because a traditional lender is going to look for you to have a perfect credit history, which your business probably hasn’t established a long enough line yet. They are also going to look for you to have a positive history of business growth. When it comes to bank loans, even secured business loans, the financial institution is going to look for at least two years of business history. 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 get worried yet! Alternatives to traditional business loans without security exist and we want to tell you about one 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. When banks began tightening their lending standards, more businesses began to utilize our alternative method.

How does a merchant cash advance work?

We have made our process for applying and receiving funding so simple. We hate how complex other funding providers make their application process, which is why we have simplified ours. You are a business owner; you don’t have time to spend hours on an application, especially when you need the funding fast!

Complete our short online form.
We will review your application within 24 hours.
If you are approved, you will hear from us with an offer within that 24 hour period. Our offer will include:
1. The full amount we are willing to advance you.
2. The fixed daily percentage we will take until the amount has been paid off.
If you decide to accept our offer, we will begin the process of getting the funds directly deposited into your bank account.
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.
After you have received the funds, we will automatically start taking a daily percentage of your credit card sales until the full amount has been paid back.

Why choose a merchant cash advance?

When it comes to this alternative funding option, our customers like it because it is fast and convenient. They do not have to worry about getting charged a late payment fee if they miss a payment because we have automated the process for them. They also like it because of how quickly we can get them the funds they need. Not only do they like how fast the process is, they love that they can spend the money how they feel they need to in order to grow their business. Not many funding providers will allow you to do that, especially if you are utilizing traditional business loans without security!