Are you a small business owner in need of a quick loan without any collateral? Getting an Unsecured small business loan will be a good option for you. Let’s discuss some benefits of getting this type of loan:
No Collateral: Personal assets with a value greater than or equal to the loan amount are used as security against the loan. Collaterals can be taken by the loan lender in case of failure of the loan repayment. Unsecured loans are borrowed generally based on income and credit score. So, you don’t need to worry that your personal assets are on risk here.
Easy Process: Applying for this type of loan is a very simple and easy process as compared to other loans. You just have to fill an application online and submit important documents. The loan lender contacts you and the process starts soon.
Minimum Documentation: Unlike traditional banks, there is minimum documentation involved so the process is very simple.
Quick Approval: With traditional banks and even online secured loans, it can sometimes take weeks for approval. But here, you can often get approval within 24 hours of applying and can also get the money deposited instantly.
Flexible: Unsecured loans are more flexible than any other type of loan. You have the option to choose the loan amount, the repayment period and different online lenders options.
- When should I get an unsecured small business loan?
You can get a small business loan when you are in need of fast cash or do not want to give collateral against the loan.
- Can I get this loan for starting a new business?
These loans are based on credit scores and the repayment capacity of the applicants. So, if you meet the requirements, you can get the approvals easily.
- How much money can I borrow with an unsecured business loan?
You can borrow a loan amount of upto $250K.
- Why the interest rate for this loan is comparatively high?
The interest rates are comparatively higher for unsecured business loans because there is no security in the form of collateral needed here.
Benefits of getting an unsecured small business loan from Pineapple Funding
- No collateral or any other type of security needed.
- Borrow loan amount from $5K – $250K.
- Get competitive interest rates.
- Option to choose the best one from a list of lenders.
- Lightning-fast approvals.
Contact us to start the process now.