What Makes Unsecured Business Loans Safe For Your Small Business?

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What Makes Unsecured Business Loans Safe For Your
Small Business?
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However, an unsecured business loan offers
potential benefits for a wide range of
businesses. And an unsecured business loan can be
used for many purposes. Perhaps it is a safe,
smart choice for you.
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WHAT MAKES AN UNSECURED BUSINESS LOAN SAFE?
No collateral required
Higher approval rates
Fast funding
You can borrow more

• Bad credit isn't a deal-killer

Greater flexibility
A percentage of credit card transactions
Build a long-term relationship with your lender
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No collateral required
Unsecured business loan does not require
collateral. That's a significant safety net for
your small business. And for you as the owner.
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Higher approval rates

• Banks are notoriously stingy when it comes to
  small business lending. But your chances of
  approval are better if you seek an unsecured
  merchant loan.

That's "safe" because you're more likely to get
the money you need. With that money in hand, you
will have enough cash to protect day-to-day
business continuity. Or support near-term growth.
Your business is safer because it's stronger.
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Fast funding

• Obtaining an small unsecured business loan is
  faster because the lender doesn't have to spend
  time appraising your collateral, filling out
  forms, waiting on documents from other sources,
  etc. The process is simpler and more streamlined.

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You can borrow more
Maybe. Some experts disagree about this. With any
secured business loan, the amount you can borrow
depends on the value of your collateral. And you
cannot borrow 100 of that value. So you may be
able to get a larger unsecured business loan,
because you aren't limited by asset value.
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• Bad credit isn't a deal-killer

When your business and/or personal credit isn't
great, it's easy to become discouraged. The right
type of unsecured business loan can bring hope
and renewed prosperity. And it can help you
improve your credit score.
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Greater flexibility
Traditional business loans from banks and similar
financial institutions come with fixed monthly
payments. Even if you qualify, that repayment
schedule might present a hardship for your small
business.
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A percentage of credit card transactions
These options allow you to match repayment
amounts and timing with your expected cash flow.
That can be very different from one business to
another. With some unsecured funding solutions,
there is nothing to repay.
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Build a long-term relationship with your lender
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• Some types of unsecured financing for businesses
  make money available on an ongoing, revolving
  basis. Over time, the lender gains confidence in
  your consistent repayment track record. They may
  be willing to lend your business more money in
  the future. While good relationships are always
  important for business success

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