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UNSECURED BUSINESS LOANS

Secure the growth of
your business (empire),

With Unsecured Business Loans. Lets get Started
What Is An Unsecured Business Loan?

Most business owners fail to provide the required collateral for loan approval by a traditional lender and face the harsh consequences. Many alternative lenders like Merchant Advisors provide unsecured loans or uncollateralized loans. Unlike traditional lenders, Merchant Advisors offers unsecured business loan with less than 24-hour approval without the hassle of collateral and a perfect credit score.

The approval decision isn’t solely dependent on your valuable assets; your credit score, bank statements from three months have a major role to play as well. Every business owner doesn’t face severe financial circumstances, but the majority of them want external help from lenders to keep their business flowing. With the help of this loan, lenders avoid the risk of exposing their valuables. Obviously, no one would risk their current assets for more money. Owners try their best to save their possessions and with unsecured business loans, it’s possible.

So, don’t put up your house as collateral just for a loan. Although it is fair of the lenders to ask for some kind of collateral but not every business owner is at the liberty to do so. Collateral provides a sense of security to the lenders. They act as a cushion when the client fails to meet the end of the bargain.

If your business needs a quick financial fix for a short term financial need, then, the unsecured business loan is the perfect treatment.

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How Does An Unsecured Business Loan Work?

Almost all of the business loans require certain collateral to cover up the default, but lenders have designed unsecured business loans for entrepreneurs who don’t have any valuable possessions to offer yet. In the case of unsecured business loans, the lenders don’t ask you to provide certain equipment, but one way or another they will cover their expenses from your assets. They will hold you accountable for the major risk that they are taking.

Now that collateral is out of the picture, the lender will take a refined look at your credentials –credit score, annual revenue, cash flow, business plan, and multiple other metrics. The point being, if you don’t have any assets to offer as collateral makes sure you are excelling in the other domains.

What do Merchant Advisors have to offer?

We are determined to help small business owners so that they can reach their maximum potential. If you have bad credit, we offer bad credit business loan. And if you don’t have the collateral to offer, we have designed Unsecured business loans to keep financial troubles away from you.

The Loan Range
The Loan Range

With Unsecured business loans, you can have up to $500,000 cash.

Approval Time
Approval Time

You can be approved for a loan in a day, and the amount will be in your account in 4-5 business days.

Repayment Terms
Repayment Terms

A business owner has to face many financial hardships and in order to provide some comfort, Merchant Advisors offers flexible payment terms. We put your comfort first!

Merits and Demerits of Unsecured Business Loans

The positives and negatives of Unsecured Loans vary from business to business. If you find a couple of merits in regards to your business needs, benefit from these loans. Let’s have a closer look:

Merits of Unsecured
Business Loans

To help you make a well-informed final decision, we have jotted down some advantages of using an unsecured business loan as an ideal solution.

Fast approval!

Fast approval!

Lenders don’t ask for much when applying for an unsecured business loan; the list of the required documents is limited. As a result, lenders don’t microscopically scan your documents and don’t take much time in sharing the final verdict.

Save your assets.

Save your assets.

As we have established so far, unsecured business loans don’t ask for any collateral. So it saves your house, car or any prized possessions. The worst-case scenario, you fail to make repayments on time and end up losing your assets but this won’t happen here. The interest rate and cost of the unsecured business loan are slightly higher than the other business loans –a noteworthy point.

Liberty to use the funds!

Liberty to use the funds!

Unsecured business loans don’t come with a strict rule book. The lender gives you complete autonomy to use the funds as you please; you can invest the money wherever you want.

Demerits of Unsecured
business loans

Unsecured business loans have a lot of advantages, but nothing comes without a cost. There are a couple of disadvantages of unsecured business loans. Go through the negatives before making the final decision.

Flexible repayment schedule!

Flexible repayment schedule!

One of the drawbacks of short-term business loan is its frequent repayments. One has to make weekly payments depending on the schedule and the loan amount.

Varying interest rates!

Varying interest rates!

The other shortcoming of the unsecured business loan is its high rates. As the lender is not asking for any collateral, the rates are slightly higher than the rest. The accelerated rate saves the lender from the damage caused by defaulters.

Personal guarantee, if not collateral!

Personal guarantee,
if not collateral!

Regardless of the kind of loan, a certain kind of guarantee is still required. Here, in unsecured business loans lenders ask for a personal guarantee. In the case of any discrepancy, the borrower would be responsible, personally.

Criterion to Meet

In order to secure an unsecured business loan, you are required to meet the following eligibility criteria:

1. You must be running a business for at least a year.
2. Your business must be generating an annual revenue of at least $50,000.

Meeting the required criteria?
Access Unsecured Business Loans

Have access to unsecured business loans in three simple steps:

Apply
Apply

Tell us about your time in business, annual revenue, business plan and fill out our online application in a couple of minutes. We use an eclectic approach; we will look at all the contributing factors other than a credit score.

Review
Review

If we like your application; you will hear from us in 12 hours. We will assign a dedicated financial advisor to you. We offer flexible payment terms, so, you have the liberty to select the amount of payment. Read the contract carefully before signing the dotted line.

Get Funded
Get Funded

Once you are approved for the loan and have signed the contract, the amount will be transferred into your bank account. Use the funds to cover your financial needs and grow your business as per your dream.

Unsecured Funding for your Business

Not all business owners have adequate funds to provide collateral, for them, many alternative lenders offer unsecured loans. If you are one of those business owners, we compile a list of business loans that you might benefit from.

Confuting Unsecured Business Loans

When business owners see unsecured business loans, they assume they don’t have to offer any kind of collateral. Truth be told, this is not authentic. As we care about our clients so we will debunk the myths one by one.

Things To Do Before Signing The Dotted Line

Now that you are here, it is evident that you don’t want to offer collateral to the traditional or alternative lenders. We are here to guide you regarding the business loan that doesn’t ask for a collateral, formally. To be on the safe side, here are a couple of precautionary steps that you must take:

For starters, you should conduct thorough and detail-oriented research. Have a clear objective of your business.

Then, you should inspect your financial standing –credit score, business tax returns, and bank statements. A stellar financial standing means more chances of loan approval and vice versa. So, make sure everything is impeccable. When filling out an application, you should enter numbers, attentively.

Lastly and more importantly, you must read the contract with open mind and eyes. If there are any probing factors, clear them out by asking your lender again and again.

The Last Caution!

Now that we have explored the primary difference between a secured and unsecured business loan and refuted the popular notions about them, you can see if an unsecured business loan is a perfect pick for your business.

As we care about the well-being of our customers and the success of their businesses we highly recommend to exercise caution. To be very direct; there is no business loan without any collateral. A lending company would never hurt itself; there is always a catch. The best way to make a solid decision is to conduct thorough research and find the best fit for your business. Make sure to look for the cheapest and effective funding options.

If the whole process is still unclear, talk to our financial advisor. Our financial advisor will guide you through the whole process, making loans accessible to you.

Apply right away