Get the Business Loans with the Fewest Approval RequirementsHave you struggled in the past to get approved for financing for your business? Did you find that business loans that you have been denied approval for asked you to jump through hoops you just couldn’t get through? Were the requirements way too high or just too numerous for your small business? If you can answer yes to any of these questions, you may be ready for our business loans, which have some of the lowest approval requirements and highest approval rates in all of business lending.
Why Many Small Business Owners Get Rejected for Business Loans
Getting denied financing for your small business is not unusual. A lot of small business owners fail to meet the requirements for getting approved for business loans. Larger businesses usually have no problem getting approved because they have more assets, bigger revenues, and they are looking for bigger loans that allow banks to make more money. The top reasons that small business owners like you get denied loans include not having a good enough credit score, not having adequate cash flow, not having any collateral, not offering credit cards, and asking for smaller loans when most lenders only want to give out big loans.
What You Don’t Need to Have to Get Approved for These Business Loans
Too often, small business owners get rejected for business loans because they are lacking something that the lender wants to see. With our business loans, we’ve left out many of these things. For instance, you don’t have to have perfect credit to get approved for these loans. You also don’t have to show that you have any collateral, and you also don’t have to show that you accept or process credit cards. We know that small businesses don’t always have the things that larger businesses have, so we make different approval requirements. We leave out the approval factors that just don’t make sense for small businesses.
The Few Approval Requirements of Our Business Loans
So, what do you need to have to get approved for these business loans? You only need to meet a few basic and easy requirements. The first is credit score. While we don’t have lenders in our network that have high credit score requirements, they do require that you have a personal credit score of at least 500. This is much lower than what most banks will accept and a requirement that is much easier to meet. The next requirement is that your business has been operating for a minimum of three months. You can be a new business and still get approved; just show us that you have been going for a few months. Finally, you need to show that your business’s revenue is at least $10,000 per month. Again, this is a reasonable minimum that most small businesses can meet.
The next time you get denied for business loans, let your lenders help you out with their minimal set of requirements. Apply online today and get funding in as little as three days.