-
Unsecured Funding for Businesses
I just joined and wanted to introduce what I provide: Unsecured funding for startups and established businesses. If you have clients that are having difficulty getting conventional funding for working capital, franchise fees, or any business purpose, please get in touch and we will more than likely have a solution for them. No collateral or down payment, no credit requirement for established businesses, monthly payments with rates as low a 9.00%, funds up to $500,000. Please call 301-495-8993 or email to lee@nextbizloan.com. Thanks!
-
11 Replies
-
Thanks, Lee. I will do a company wide staff email to all our team members at GCA. If you can be kind enough to point out bullet points on the type of business and case scenarios, it will be greatly appreciated. If you can explain how the loan program works, we will make sure every loan officer is aware of business loan programs.
-
Folks, please contact Nelson Thompson at nelson@gustancho.com of http://www.lendingnetwork.org if you need more information about unsecured business loans.
-
This reply was modified 3 months, 2 weeks ago by Gustan.
-
This reply was modified 3 months, 2 weeks ago by
-
I like to introduce unsecured business loans to all our independent commercial loan officers. I will connect with Nelson Thompson of Lending Network. Can you post more about how business loans work.
-
What industry are you able to lend Nelson.
-
Lee, correct me if I am wrong but I am posting from my understanding what unsecured business funding is. If you can detail the unsecured business funding you offer our clients with your investors, it will be greatly appreciated. Unsecured Commercial Financing Described:
Unsecured business financing includes loans or credit lines that do not require borrowers to provide assets as collateral. Property, equipment, and inventory are examples of collateral. This type of funding is attractive for businesses with little assets to pledge or wanting to save their assets for other uses.
How Unsecured Business Funding Works for Startups and Established Businesses:
No Collateral Required: Unlike secured loans, unsecured business loans do not require assets to be pledged as security. For this reason, they work well for companies without significant physical capital or those who don’t want to put their homes at risk.
Flexible Usage: These funds can be used in various ways, such as working capital, franchise fee payment, expansion costs coverage, buying stock, and marketing needs. Such flexibility permits enterprises to allocate them wherever they are needed most.
No Credit Requirement for Established Businesses: A good track record in business operations often makes it possible to qualify for unsecured business loans since there is usually no strict requirement on credit history like traditional loan applications where high scores may be demanded.
Monthly Payments with Competitive Rates: These are typically structured as fixed monthly payments. Therefore, unsecured business loans can easily fit into a company’s cash flow management plan. Unsecured business loans attract interest rates starting from as low as 9% depending on market conditions vis-à-vis the financial performance indicators the borrower(s) presented.
Funding Amounts Up To $500k: Startup businesses and growing firms looking for large amounts of money but needing more collateral can get up to five hundred thousand dollars without having any assets tied down. Otherwise, the business would have been necessary if they were dealing with secured lending institutions.
Why Unsecured Business Loans Might Be the Right Solution:
For Clients Facing Conventional Funding Challenges – If your clients cannot secure conventional funding sources, this might do the trick! It provides quick access to cash without asking for collaterals or high credit scores.
Ideal For Various Business Needs – Whether covering franchise fees, boosting working capital, or meeting other business obligations, unsecured loans ensure the smooth running of operations by providing needed liquidity.
Contact Information:
Contact Nelson Thompson of Lending Network, the commercial lending division of NEXA Mortgage, LLC.
Phone: 470-667-9595. Email: nelson@gustancho.com.
Our product offering will meet the requirements of every customer with no collateral, no down payment, and competitive rates. Don’t hesitate to contact us so we can assist you in securing the required funding!
-
Hello everyone,
In introducing unsecured funding to the group, I thought it might be helpful to provide bullet points describing the two kinds of funding vehicles that are available:
1. Revenue-based business loan or line of credit (for existing businesses)
• No minimum FICO score, no collateral
• No limit on funding amount
• Amount received: based on 10-15% average monthly revenue
• Rate: 12-24% per year
• No pre-payment penalties: only pay interest for the months used
2. Unsecured loan for startups and businesses with low revenue
· Requires 680 credit scores
· Monthly payments on 5-year term loan with 9-14% rate
· $50,000 to $250,000 in funding
· Co-signors are allowed for clients who don’t qualify
· No time in business or revenue requirements
In both cases, the funds can be used for any purpose and can be available in as little as one week. Although most often used for things like working capital and inventory, this funding can also be used for debt consolidation.
-
One more thing on unsecured funding: with the exception of financing companies, funds are available for any industry.
-
Lee, the unsecured business funding is it like a Merchant Cash Advance (MCA)? What are the repayment terms. Are they paid daily, weekly, monthly? Is there a prepayment penalty. Can I see a copy of the contract? Is there a lien on the business? I am the CEO of Affiliated Financial Partners and do a lot of Equipment Financing and MCAs. What can the the business owner use the funding for? Does the owner have discretion on where to use the money? I will await your answers. Thank you.
-
Hi Danny,
Thanks for your interest in our unsecured business loan program. We look to place businesses with actual loans as opposed to MCA’s. Rather than a factor rate, there is an 12-28% interest rate, with a term of 12-24 months. We look to get monthly payments for stronger businesses, and at worst, weekly payments for weaker ones. No pre-payment penalties and no liens of any kind. No restrictions on what the funds can be used for and the only industry we can’t fund is used car sales. Thanks. Lee Kramer 301-495-899
-
-
Unsecured business funding can be 100% loan-to-value without credit scores. Lending Network does it.
