Running your own business is not easy, but a brave step. And meanwhile you run a small company; you may still have to look for additional capital. Small businesses and startups usually have difficulties applying for a business loan and getting required funding from the local banks, as they do not have steady business credit history, long years in business, and collateral to secure business loans. It is fortunate that there are lending alternatives that can help small business owners get the funding they need to achieve their intentions such as a renovation, building inventory, or capital improvements.
Don’t forget the bank wants to approve you
The traditional banking institutions actually want to lend you money. The interest you will pay is a vital source of income for them. It’s just up to you to make their job easy by turning up with a good business case.
While banks are experts in money, they are unfamiliar about other types of businesses. That is why you will need to convince them that the loan will help you increase the sales and ultimately get paid back. Also, don’t forget about all paperwork that you will need:
- business plans or project plans to show the direction your business is taking
- bank accounts, also for verification
- up-to-date financial statements
- income statements and balance sheets for the past two years
- tax returns to verify your income statements
It’s a lot of paperwork together with a long list of requirements. Or you can forget about the paperwork and look for alternative online lender such as Unified Capital and apply online and be approved within 24 hours.
Apply for your loan now!
- Fill out a short and simple online application form with several questions (your name, company name, phone number, business type and, of course, the required amount of money).
- Give it to the lender straight: the more the lending company knows about the case, the more solutions it can offer.
- The time of approval is quite short, and you will be informed about it by email. The only thing left to do: grant permission to proceed.
- Get your financing in less than several hours.
Any business can apply for a small business loan since Unified Capital invests money in the American economy to help local companies where traditional financing institutions do not give them a chance to grow.