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UNSECURED BUSINESS LOANS

Unsecured Business Loans

Finance your small business with no collateral loans. Apply Now
What Are Unsecured Business Loans?

Unsecured loans are no collateral loans that don’t require collateral to get you approved for financing – making them less risky for a small business. These loans are best suited for those businesses that don’t anything to offer as collateral, however, these loans carry higher interest rates than secured business loans to accommodate the increased risk for the lenders. The loan approval is based on the creditworthiness of the borrowers.

Qualifying for Unsecured Loans

Qualifying for unsecured loans is easy: all you need is one-year time in business, $250,000 in annual revenue and a decent credit score. After you make a loan application, we use our automated process to review your application and provide credit decisions within 24hrs.

Quick underwriting is another benefit of unsecured business loans. Generally, traditional lenders don’t underwrite loans without some form of collateral. They prefer to underwrite loans based on the value of provided assets and take liens on those assets in order to reduce their lending risk.

Get funds to grow your small business

PROS

  • No Collateral Required
  • Quick Loan Approval
  • Quick Loan Application
  • Flexible Use of Funds

CONS

  • Higher Interest Rate
  • Short and Inflexible Terms
  • Frequent Loan Payments
  • Harder to qualify with poor credit
Types of Unsecured Business Loans
What Happens If You Default on an Unsecured Business Loan?

If you default on an unsecured business loan, the lender may assign your debt to a collection agency and take legal action against you to recoup some or all of the debt. Defaulting on an unsecured business loan not hurt your personal and business credit score, especially if the loan was personally guaranteed or if you’re a sole proprietorship, but also affect your ability to obtain funding in the future. If you’re unable to repay the lender or in danger of default, make sure you directly contact your lender to discuss a more convenient repayment plan.

Unsecured Business Loans from Merchant Advisors

At Merchant Advisors, we use business metrics like cash flow, time in business, credit profile, personal credit score, and many others to determine your creditworthiness. We don’t consider any particular business assets for evaluation – making it easy for small businesses to a business loan. Once you’re approved, you can get funding in as quick as 24hrs without providing any specific business asset.

Find the right funding for your business

Why Merchant Advisors?

At Merchant Advisors, we understand your unique needs and provide customized small business loans to keep your restaurant business progressing.