As stated these business lines of credit do not require collateral (thus they are called no collateral business loan) and can include anything from small to medium business credit card solutions up to individual lines of credit for $500,000. How much the business owner qualifies for depends on the credit profile and the size and, if already established, the profitability of the business. Start-up companies with no established revenue and a business owner or partner with a good credit file can initially expect to receive between $25,000 – $100,000 normally.
Unsecured Business Loans
An unsecured business loan often also known as no collateral business loan is one that is obtained without the use of commercial property or assets used for collateral on the loan. Borrowers who have established a relatively strong credit rating can be approved for unsecured business loans. A credit history and a good business idea is all you need to get your company started in the direction you envision. While some competitors can offer unsecured business financing there is a vast difference between a loan that makes your dreams come true and a loan that will cause you nightmares. There are a few things to consider before taking on an Unsecured Business loan.
If you are looking to start a new business or company but can’t get the funding because you aren’t yet proven, it’s a story we hear every day. Proving yourself without the initial chance to succeed has been a problem for entrepreneurs for centuries. Lenders always like to look for a proven track record but sometimes as a visionary, you have a strategy you know will work but you can’t yet prove it. That’s where Mission Valley Capital steps in to ensure that you not only get funding to accomplish the mission but also reasonable payback terms that are easily managed.