This type of financing allows businesses to secure funding without the need of Bricks and Mortar security. The funding process is quick and easy. Normally funds up to $150,000 can be sourced without any security at all. Amounts over $150,000 the funder will require some sort of security, perhaps a 2nd mortgage or GSA (General Security Agreement).

Unsecured loans are not assessed on your last 3 years financials rather your last 6 months business bank statements as these present an UpToDate picture of your business. Loans are also assessed on your credit worthiness rather than a balance sheet.

Cash flow is King in any business, without it your paddling uphill in a leaky canoe. The lack of cash flow is the demise of so many businesses so plan to be cash flow positive each month.

Purpose of Funds

Funds can be used for almost any purpose; some I have listed below:

Qualifying Criteria

How to apply.

It is worthwhile noting that a credit check will not be lodged on your credit file until you are happy with the terms. There is no obligation on your part and no details are noted on your credit file.

Leave a Reply

Your email address will not be published. Required fields are marked *