Until recently, sourcing a small business loan was akin to successfully climbing Mount Everest, with the traditional banks and finance companies all having complex protocol that might end with your loan application accepted. Any new business is like a growing seedling, as it requires the utmost care and attention, at least until it is big enough to be self-sufficient, and in the first year, a large percentage of enterprises fail due to lack of funds. The digital revolution has transformed the way we live, and this has seeped its way into every aspect of our lives, and with online small business loan providers, who are focused on delivering the goods within the shortest time possible, you can now actually borrow money when you most need it.
Online Small Business Loans
For the first time ever, it is now possible to apply for unsecured small business loans and receive pre-approval within 5 minutes! This process doesn’t involve a credit check, which only happens at the next stage of the application process, and this online 5-minute eligibility form can be accessed from the website, and allows a person to find out exactly where they stand, without having to wait for days while your application is considered.
Once you pass the pre-approval stage, you are required to submit a few documents, which would typically include the following:
- Income Verification – Pay slips or Business Certificate
- Asset Details (Car registration or Title Deeds)
- Identification – Driving Licence or Passport
The above documents can be faxed, or scanned and attached to an email, or sent by registered mail is preferable.
Funding when you Need It
Small businesses cannot afford to wait weeks while a loan application is considered, and with online providers, things happen very quickly indeed, with some applications accepted and funds paid into the customers account within a few hours of initiating the process. In the modern business climate, certain things are out of our control, and there could be many reasons why the business requires additional funding. It might be rapid expansion, or a major customer who has yet to settle their account, but whatever the reason, lack of funds should never be the reason for a business to go under.
Unsecured Start Up Loans
You might have a great business idea, yet lack the capital for a start up, and in such a case, it is now possible to make an online loan application. The process is simple, and there is no need to submit a business plan or any financial documentation, as long as you are over the age of 18 and are starting a new business. Approval usually comes through within 5 minutes, and before you know it, that lifeline money will be in your account and you can begin the long process of building a business empire that will provide you and your family with a secure future.
The modern day entrepreneur demands rapid response when applying for a business loan, and with the support of the right lender, the business can get off the ground, and with flexible repayment plans, it won’t restrict your company in any way.