Expand Your Business With Unsecured Loans


Running a business has its risks and opportunities. For small business owners, accessing credit can be a challenge in the current economy. Mainstream lenders have great restrictions when it comes to approving small businesses for credit. For example, businesses may be required to have consistent cash flow, have been operating profitably for a number of years, and provide collateral of high values and so on. What happens when you need business finance but do not meet the requirements set by the mainstream lenders? You can apply for unsecured business loans.

Get Business Financing Even With Poor Credit

Unsecured financing is great for business owners because no collateral is required. Borrowers can access the funds they need, usually ranging from $5,000 to more than $500,000, without having to provide collateral. Therefore, businesses do not need to insure the debt with vehicles, property or other assets. Unsecured business financing offers businesses an opportunity to establish their credit rating without risking their assets.

Most unsecured business finances are not open ended like traditional loans. Unsecured loan lenders are flexible with their payment terms and approval guidelines. Therefore, businesses can get financing  with attractive terms to maintain their operations and can even receive additional funding based on their repayment history.

Retail store owners, restaurants, used car dealers, doctors, small groceries, insurance firms, clothing stores and other small and medium sized businesses are usually locked out of traditional business financing due to tough minimal requirements set by mainstream lenders. Such businesses can find relief in unsecured business loans from Commerce Capital Advance.

Boost Your Business With Unsecured Business Loans

Unsecured business finance is unrestricted as long as it is used for business purposes. As a small business owner, unexpected expenses can occur at any time. You may need to restock your shop, pay for supplies, purchase new working assets and so on. Such capital intensive emergencies may be crucial to the success of your business. When you need funds fast for business, you can find relief in unsecured business loans. If you have an existing relationship with a lender, you can get flexible amounts based on your requirements.

Another benefit of unsecured business loans is that it can be structured like a credit card. The lender can set a limit for your business as long as you pay the balance on time. If needed, the credit can be reused. The amount of loan you will be given will be smaller than that of secured loans in order to reduce the lender’s risk. However, when you make your payments as agreed, your limits can be raised and your payment terms reviewed to reflect your payments.

Paying Back Your Unsecured Loans

The payback period for unsecured business loans is flexible.  Your lender will give you a timeline that you are comfortable with. How you repay depends on the loan product you choose and the choice is yours.

While lenders do not ask for collateral for unsecured loans, there are penalties to be paid in case you default your payments. For example, your interest rates may be reviewed up or you can be slapped with other fines. In some cases, the lender may go to court to get permission to seize your business assets.

Businesses should ensure they do not default their unsecured business loans to avoid getting into bad debts.

Contact Commerce Capital Advance  to discuss your options and flexible repayment terms.

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  1. It’s difficult to find educated people on this subject, however, you sound like you know what you’re talking
    about! Thanks

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