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Secured Business Loan Alternative

Secured business loans are basically synonymous to loans that are secured by any of the following:

  • Collateral
  • Personal guarantee
  • Third-party guarantee

There are, however, several reasons why a secured business loan may not be the optimal choice for your company.

You do not have any fixed asset to put up as collateral.

Most of the time, banks and other financial companies prefer deeds to properties, vehicles, and other types of valuables like rare paintings or jewelries to serve as collateral. Cash may also serve as collateral but it would have to be a large enough amount that would satisfy your bank. Moreover, cash-based collateral is typically placed in a time deposit that would prevent you from making withdrawals of any amount and any time you want.

You do not want to lose financial leverage.

When you put up an asset for collateral, you will automatically be unable to use it for financial leverage in other deals. You will not be able to sell it for additional funding. You will not be able to use it for collateral for other types of loans that may prove more vital than the one you originally applied for. You will also have a reduced amount in your asset portfolio, which could disqualify you from bidding for certain types of contracts.

Your personal guarantee is deemed inadequate.

Even if you were willing to personally guarantee your loan, it is possible that your guarantee would be deemed insufficient security for the type of loan you are asking for. Most of the time, this is due to having bad credit.

You do not have anyone else to ask to guarantee your loan.

Even if you were also willing to have another person guarantee your loan, leaving you to be possibly indebted to your guarantor if you default on your loan, there's that small matter of finding someone who would be willing to help you out.

Get A Cash Advance Today!

If the prospects of getting a secured business loan do not seem too promising or if you prefer to skip it altogether, then we at Small Business Funders have an alternative solution to offer.

We offer a wide range of worry-free loans and cash advances that come with very flexible repayment options. Best of all, we do not require any of the following from our clients:

  • Credit reports
  • Collateral
  • Financial statements
  • Personal guarantees

What we would want to know – and which you can share with us just by filling up our application form – is all about your business and has nothing at all to do with your personal finances.

  • Do you have a registered business in the United States?
  • Is its license to operate valid and current?
  • Is your business able to earn at least $2,500 every month?

If you answer 'yes' to all of those questions, then there is a very good chance that our call within 24 hours to you will come with good news. All you'll then need would be to submit the required documents, and you can count on a fund transfer to your bank account in five to seven business days.

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What's the next step?

Get a head start by filling out and faxing our complete application

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