An unsecured business loan, also known as a business cash advance, allows companies to obtain money quickly and without the need for collateral or backing capital. This option is especially enticing for service companies and others that do not have a lot of hard assets on hand.
Another benefit of an unsecured business loan is that there is no need to show a long business history or a detailed business plan. This is great for companies that are relatively new to the marketplace.
While these are great benefits, there are a few things to keep in mind about unsecured business loans. The first one is that this relatively easy money comes with a cost – generally higher interest rates than those charged by traditional banks. Therefore, these business cash advances should only be used to cover short-term financial needs. If your company needs to do something like buy real estate, it’s better to get a traditional mortgage or other long-term financial note.
If you have short-term financial needs to cover, try the unsecured business loan lender matching service here at UnsecuredBizLoan. We have access to lenders with experience in almost every business niche. These lenders use their knowledge to assess your company’s prospects without the need for a long business history. Some won’t even consider your business credit score when making their decisions.
The lenders that work with us are able to cover a wide range of financial needs. You can seek a loan for under $2,500, one for over $500,000 or any amount in between. UnsecuredBizLoan will match you up with the lenders that are most likely to be willing and able to satisfy your requirements. Soon, your company will have the cash it needs to make payroll, buy inventory or cover any other short- to mid-term financial needs.
To apply for funding for your small business, use the form on the right to begin the application process.