![]() ![]() ![]() ![]() How does a business loan work? Interest ratesĪs with other loans, when you borrow a business loan, you repay the total loan amount plus interest. Common collateral for secured business loans includes equipment, vehicles, and real property (typically land and buildings). Small Business Administration (SBA).īusiness loans can be either secured, requiring an asset of value as collateral, or unsecured loans. Some organizations also back specific types of business loans like the Community Development Financial Institutions Fund (CDFI) and the U.S. These loans are available through brick-and-mortar banks, credit unions and online banks. What is a business loan?Ī business loan is a lump-sum loan that small businesses can use to cover costs. business lines of credit and which makes the most sense for your situation. Here’s what to know about business loans vs. If you’re a small business owner seeking financing to smooth out cash flow or grow your operation, you’re not alone. Of those that applied for financing, 79% were approved for some, most or all of the amount. The reasons small businesses sought financing ranged from maintaining operations and replacing capital assets to financing new opportunities. Protect Your Personal Assets With An Uncollateralized Business Loan.According to The Federal Reserve’s most recent Small Business Credit Survey, 40% of small businesses in the U.S. If you do meet those qualifications and complete the form to the right, a lender within our program will call with details of the unsecured business loans including terms and rates you qualify to receive. Please ensure that you either meet or exceed the conditions to qualify as listed below. We do want to stress that this is a free service and no personal information will be required. While this program is not a federal-based program, it is a benefit of the programs the government has provided that allows businesses such as yourself to qualify. This is a non-restrictive loan, allowing you the ability to spend the full amount of the loan any way you deem necessary for your business such as paying off or consolidating debt, hiring more employees, marketing or any other means you as the business owner feels necessary. This is a free service that does not require any personal information since the loan is based on annual revenue of your business. If you’re looking for a quick, hassle-free way of getting financed in a matter of days, then fill out the form on the right and a lender within our program will call with information on how much your business can receive.ĭue to recent government programs and Federal incentives, businesses can now qualify to receive loans between $10,000 – 2 Million without the use of personal guarantees, personal information or assets as collateral. ![]() There are restrictions on how you can use your loan. We can provide anywhere from 10K – 2 million for your business. Instead of basing our evaluations on things like your credit score & your personal assets, we look at the revenue your company generates to determine how much money you are eligible for. We are able to make these loans by taking a different approach from most other loan providers. Halo Capital simplifies the process by providing unsecured business loans with no collateral, no credit check, minimal paper work and quick approvals. Unfortunately, many companies simply don’t have these assets and as a result, are shut out from fairly priced capital. Are you sick and tired of the strict qualifications banks and private lenders place on small business loans? Many institutions ask business owners for tens of thousands of dollars worth of personal collateral in order to qualify. ![]()
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