For small organizations needing a small business loan, particularly an unsecured business loan, there's a go to source available with affordable business credit card financing that does not require collateral or credit review. In today's economic environment, pursuing commercial grade financing isn't an easy or simple matter. It's highly complicated and very exhaustive.
The credit crunch resulting from the national and global economic downturn put undue pressure on lending institutions. Big corporate banks made hundreds of millions of dollars in loans that have gone into default with little to no hope of collecting. Small business owners shut their doors; consumers turned their cars and home over to repossession, and students, unable to find steady work, stop repaying their educational loans.
Now, banks are facing a whole host of new federal laws and banking regulations. Mortgages are carefully reviewed, and applicants screened. Business owners must provide all kinds of financial documentation to secure a loan. These include at least three to five years worth of tax returns, full personal and business asset and liability disclosure, pledging substantial collateral, signing a personal guarantee, having impeccable credit and profit and loss projections.
However, for companies wanting to know where to get an unsecured business loan without credit, there is an answer. Alternative lenders are stepping up to fill the financing void left by the big banks, offering loans at competitive rates with no collateral or credit check required. Payments are based on a percentage of the loan amount rather than a fixed sum, making repayment affordable during slow sales months.
Applicant businesses can apply online by completing a simple, straightforward form. Borrowers can apply for and receive between
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