what is a personal business loan?
A personal business loan is provided to small business owners based on their personal financials. Once you have the cash in hand, you can use it to finance your small business any way you’d like. Personal loans are best suited for startups that have no established business histories. With lower interest rates than many business loans, personal loans are a great funding option for small businesses looking for financing.
- Maximum Loan Amount $35,000
- Loan Term 3 to 5 years
- Interest Rates 5.99 - 36% APR
- Speed As little as 1 day
How Much Does A Personal Business Loan Cost?
Personal loans for business have a straight-forward closing fee attached. This fee is deducted from the total financing amount you've been approved for, and the remaining amount is your inclusive business loan. For instance, you apply for a $10,000 loan with a $450 closing fee attached. Once you get funded, you’ll only get $9,550—but you’ll pay interest on the original loan amount of $10,000.
Personal business loans have an easy repayment structure without any hidden fee or complex documents. It’s just you with the cash, and a fixed monthly payment. YES, it’s that simple!
Get a Personal Small Business Loan Today
Are you looking for a small business loan? Merchant Advisors can help you get personal business loans for your small business fast. Getting a business loan for a new business can be challenging, and we understand that. That is why we help you and your new business to get the funds. There’s no need to put up any collateral or provide any personal guarantee to get the capital you need. Whether you need a personal loan for your new initiative, or for a more established business, turn to Merchant Advisors for quick access to personal loans at the most affordable rates and terms.
Our Personal Loan Benefits
- Helps you establish a positive credit history
- Helpsimprove personal credit score
- Access working capital on lower interest rate
- No collateral needed to get personal loans
- 99% Approval rate for personal financing
- Personal loan Funding from $10,000 to $100,000
- No exhausting application for personal loans
Becoming a business owner isn’t as easy as it looks—but the rewards can be infinite. If you need funding to grow your dream business, you’ve come to the right place. Getting a business loan fast at the most affordable rate is one difficult game to beat. Our personal business loans are a great alternative to traditional loans when your small business doesn’t have an established history, or you are unable to provide the needed credentials a bank requires to approve a small business loan. We provide a personal loan to you—the business owner—based on your credit score only. Applying for a personal business loan is simple: fill the online loan application and we’ll get back to you with your funding options. Weigh the pros and cons of every financing option, have a strategic business plan, document all the relevant business and personal finances, and apply away! If approved, the funds will be in your bank account, access it by using business credit cards. Remember to make the repayment on time and use the funds calculatedly.