There are lenders in the market now that will loan up to $500,000 for an existing business and for new business starts. These loans are totally unsecured and the borrower can make interest only payments until the business starts making enough profits to make larger principal payments.
These loans are great for a business that needs a jump start and even better for a business that is just starting up or for someone who has a business plan. Anyone with a good FICA credit score usually gets the money they need to start or fund their existing business.
These loans are usually funded very fast and have limited documentation. These loans only require stated income - not proof of income like most business loans.
There are several lenders out there that are presenting these loans. These loans are signature loans and there is no collateral required. This is a great way to start the business you've always dreamed about or get the money you need for an existing business. I have checked into these loans and they are presented by some of the largest lenders in the country. At this point the loans are only for US residents.
I have worked in the finace indusry for the last 15 years. I have experience in the auto loans industry and the mortgage lending industry. Article Source: http://EzineArticles.com/?expert=V_Davis |
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