Don't Let Your Credit Score Get in the Way of Small Business Financing
http://www.corporatezone.net/articles/12996/1/Dont-Let-Your-Credit-Score-Get-in-the-Way-of-Small-Business-Financing/Page1.html
David Castro
David Castro often writes articles about Small Business Loans for Merchant Resources International - Visit Us at http://www.cashprior.com By David Castro
Published on 09/3/2008
With a small business cash advance, you can find the business financing you need without the requirement of excellent credit.
As of March 2008, according to Experian, one of the three major U.S. credit bureaus, the average U.S. credit score was 692. An excellent credit score is usually considered 700 or above, and about 40 percent of Americans have credit scores below 700.
Why are these numbers important? In the United States, your credit score holds lots of value. It is a number that helps lenders determine whether or not to provide you with a loan. And if you are granted a loan, your interest rates and the amount of money that is lent, are also very dependent upon your credit score.
But what if you are not interested in receiving a personal loan, rather, a business loan? Does your eligibility still rely on your credit score? Yes, even if applying for a business loan, your credit score remains one of the determining factors for lenders.
These facts, paired with the prevalence of small business owners who do not have excellent credit scores, can turn getting money to finance a small business into a seemingly endless search.
Fortunately, countless small business owners have found their ways out of the business financing maze and into the arms of accessible funds for their small business needs, with a business cash advance.
A small business cash advance can supply you with the money you need to finance your existing small business. Rather than requiring excellent credit and collateral, small business cash advance lenders require a borrower to own a business that has processed credit card sales totaling $2,500 to $5,000 a month, for at least four to six months.
In addition to being able to fund small business owners that are not eligible to receive bank business loans, small business cash advance lenders are usually able to fund loans much more quickly than the bank. This is because the process is very simple:
Step 1:
Complete a short application for your small business cash advance
Step 2:
Provide your business cash advance company with the requested documentation (this can include a business lease, several months documentation of credit card transactions, etc.)
Step 3:
Await approval (this can happen in as little as two days)
Step 4:
Receive your money (this can happen in as little as seven days)
Having a low credit score no longer has to come between you and small business financing. Choosing a small business cash advance could be the best option for you and your business.
Why are these numbers important? In the United States, your credit score holds lots of value. It is a number that helps lenders determine whether or not to provide you with a loan. And if you are granted a loan, your interest rates and the amount of money that is lent, are also very dependent upon your credit score.
But what if you are not interested in receiving a personal loan, rather, a business loan? Does your eligibility still rely on your credit score? Yes, even if applying for a business loan, your credit score remains one of the determining factors for lenders.
These facts, paired with the prevalence of small business owners who do not have excellent credit scores, can turn getting money to finance a small business into a seemingly endless search.
Fortunately, countless small business owners have found their ways out of the business financing maze and into the arms of accessible funds for their small business needs, with a business cash advance.
A small business cash advance can supply you with the money you need to finance your existing small business. Rather than requiring excellent credit and collateral, small business cash advance lenders require a borrower to own a business that has processed credit card sales totaling $2,500 to $5,000 a month, for at least four to six months.
In addition to being able to fund small business owners that are not eligible to receive bank business loans, small business cash advance lenders are usually able to fund loans much more quickly than the bank. This is because the process is very simple:
Step 1:
Complete a short application for your small business cash advance
Step 2:
Provide your business cash advance company with the requested documentation (this can include a business lease, several months documentation of credit card transactions, etc.)
Step 3:
Await approval (this can happen in as little as two days)
Step 4:
Receive your money (this can happen in as little as seven days)
Having a low credit score no longer has to come between you and small business financing. Choosing a small business cash advance could be the best option for you and your business.