How to Get Startup Cash for Small Business
Starting a Small Business – Bank Loans versus Other Money Loans Options
By Matt Becker, Guest Writer
If you’re interested in starting up a small business, don’t think you need to go through a lengthy loan process to get the startup cash you need. There is a variety of fast and simple loans that you can apply for that will help you meet your business goals. Traditional loans are received from banks and financing companies and have strict requirements and formalities you must qualify for. These loans require that you have collateral, good credit and a long business history. Fortunately, there are other loan options that will give you the cash you need in under 72 hours.
Small Business Cash Advance. Your first option is a small business cash advance. It’s the easiest type of loan to apply for, as you don’t need any collateral or a good credit history. The application process is very simple, and there are no upfront app or loan fees you need to pay out. Even more assuring is that there are no monthly payments that are set and no closing costs, plus your cash advance will not be reported to any credit agency.
The workings behind these types of money loans are that they are dependent on your future sales. As you begin to make money with your small business, the money will be paid back. Since there are no set monthly payments, the payments will instead coincide with your sales. Therefore, if you have a productive week, a larger payment will be made. The only downside is that some cash advances can only be given to owners who have an established business.
Small Business Loan. A small business loan caters to new businesses, as there are no restrictions as to what type of business can be established, no upfront loan fees and super fast approvals. The application process is simple and no assets are required. In fact, small business loans are attractive because there are no restrictions as to what they can be used for, so you can use them directly for startup related costs. The rates and loan terms are affordable so that you know exactly what you owe each month instead of having the cycle flow with your business’ traffic.
With small business money loans, there are no and low documentation programs available. Another benefit to choosing a small business loan is that it can be tailored toward your exact needs. Examples of business loans include a Truck Equipment Loan, Unsecured Loan over $25K and an Equipment Leasing Loan. These loans address your specific needs so that you can make the most of your small business.
Business Lenders are More Flexible. If the banks have denied your loan request, a business cash advance or small business loan can be the answer you’re looking for. Most business lenders will say yes and offer you the startup funds you need within 72 hours or less. By taking out a loan that meets your specific needs, you can maximize your chances for success and start your small business today with low risk.
About Matt Becker: Matt is a financial writer who enjoys writing on topics such as small business money loans, financial planning, personal finance, and home loans.