Whether you are looking to purchase inventory, hire more employees, or refinance existing debt, an Unsecured Business Loan might be the right financing option for you. These loans are designed for businesses that don’t want to risk their assets or don’t have any assets to use as collateral.
An Unsecured Business Loan is a funding solution that is issued based on your personal creditworthiness and does not require collateral. To qualify, you need to show a good credit score, excellent financial history, and sufficient cash flow.
With an Unsecured Business Loan, you can access up to $1,000,000 through Opportunity Business Loans. We offer convenient loans that boast flexible terms, low payments, and fast funding. Our financing programs are better than traditional bank loans because we require minimal paperwork and approve much quicker.
The biggest difference between secured and unsecured business loans is that an unsecured loan does not require any form of security. With a secured loan, you might be required to use collateral to secure the loan. This could include property, land, equipment, bank accounts, and more.
If you default on your payments, the lender could seize these assets. An unsecured loan prevents this from happening but also is much harder to qualify for. If you are unsure which option is best for your business, give us a call today.
Additionally, unsecured loans come with a much quicker application and funding process. This loan involves simpler legal processes and does not need to wait for assets valuations. This expedites the funding process to get you the capital you need as fast as possible.
Opportunity Business Loans offers a variety of Unsecured financing options for small and mid-sized businesses. If you don't know which option fits your business best, give us a call today. Our team of financial advisors would love to assist you in securing the loan that makes the most sense for your individual wants and needs.
One of the most popular unsecured financing options is a Merchant Cash Advance. This offers quick access to capital with a single sum of cash for a percentage of your business’ forecasted sales.
This loan pays you an upfront amount, then you repay the advance with a portion of your future credit and debit card sales. Since you are using your future sales as leverage, you do not need to use collateral to secure the loan.
Learn more about Merchant Cash Advances ▶
An Unsecured Business Term Loan offers a lump sum of working capital through a loan that is paid back over a set amount of time with an agreed-upon payment schedule. This is the most popular unsecured financing option but is also harder to qualify for.
Since there is no collateral to secure the loan, you will have to prove that you can make your loan payments on time. This is proven through a high personal credit score, excellent financial history, and sufficient cash flow.
If you or your business doesn’t have all of these factors, it might be difficult to obtain an unsecured business term loan.
An Unsecured Business Line of Credit works similar to a credit card limit, in that there is not maximum limit you can borrow. Additionally, you will only be charged interest on the amount of money you borrow.
This financing option gives your business a lot more financial flexibility. It offers additional capital for whenever you need it. This of a Line of Credit as a financial safety net. It is always there to help cover unexpected expenses.
Follow these tips and advice to ensure you get the most out of your Unsecured Business Loan.
Every Financing Program through Opportunity Business Loans comes with a variety of benefits that will help your business grow by boosting profits, increasing market share, and acquiring more customers. When you are approved for an Unsecured Business Loan, you will enjoy all of the following benefits.
In just 3 easy steps, you can explore your financing options.
Start by filling out our fast application where you can tell us about you and your business. With just one simple application, you'll have access to over a hundred different lenders.
After submitting your application, our advisors will evaluate your business profile and match you with lenders who can offer the best financing for your business.
Review all your different financing opportunities with an advisor at hand. With so many opportunities at your door, you’ll find the best one to meet all your business needs.
With locations in every city, you'll have no problem finding the right loan.
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