Are you interested in starting your own business? If you have ideas, services, or skills you’d like to share with others, perhaps the best place to begin building your company is with a small business loan. Borrowing from a private capital lender as opposed to other sources, such institutional or local banks, can save you time, money, and unneeded hassle. With a private lender, you have the opportunity to receive the funding you need more quickly. Also, the approval of your funding won’t rest completely on your personal credit score, which is often the reason why many banks deny business owners’ loan applications.
Swift Application Process
Whether you’re in the beginning stages of opening a new business, are in need of funds to purchase new equipment for your company, or plan to advertise and market a new product, it’s likely that you want the funding you need as quickly as possible. Waiting for a bank or lender to come to a decision regarding your funding can be nerve-wracking. After being approved, Louisiana small business loans anywhere from $10,000 to $400,000 are issued by a private lender to owners in as little as five days, while banks or other sources, depending on the case, may take weeks.
No Credit Score Checks
Another benefit of borrowing from a private capital lender is the fact that your credit score won’t act as the deciding factor in whether or not you receive funding. Maintaining a good credit score nowadays is no easy task, and accordingly, private lenders look at your credit history, the credit history of the business, its age, and general revenue. Louisiana small business loans also include fair interest rates and repayment plans, which helps to make repayment easier and faster. Generally, factors such as the reason you’re applying for funding, your business’ assets and cash flow, and more, are considered when determining interest and payment amounts. Contact World Business Lenders, our specialists will be more than happy to tell you why we are the best choice for your business funding needs.