{"id":791,"date":"2017-06-19T08:49:29","date_gmt":"2017-06-19T08:49:29","guid":{"rendered":"https:\/\/financer.com\/?page_id=791"},"modified":"2024-11-27T04:30:18","modified_gmt":"2024-11-27T12:30:18","slug":"business-loans","status":"publish","type":"page","link":"https:\/\/financer.com\/loans\/business-loans\/","title":{"rendered":"Business Loans"},"content":{"rendered":"\n
Running a small business is incredibly rewarding, but it also comes with unique challenges. You might need extra cash to purchase new inventory, cover unexpected expenses, or take advantage of a sudden growth opportunity.\u00a0 <\/p>\n\n\n\n
That’s where small business loans come in \u2013\u00a0 they provide a vital lifeline, giving you the funds to overcome obstacles and propel your business forward.<\/p>\n\n\n
National Funding is an established provider of small business loans and equipment financing. It’s recognized for its quick application process and rapid funding, with the potential for businesses to receive funds within 24 hours of approval.<\/p>\n\n\n\n
Potential borrowers should be mindful of the costs associated with National Funding’s loans, as interest rates and fees may be higher compared to traditional bank loans, and frequent repayments are typically required.<\/p>\n\n\n\n
Quick application and funding process.<\/p>\n<\/li>
Accessible to newer businesses.<\/p>\n<\/li>
No collateral needed for unsecured loans.<\/p>\n<\/li>
Funding for businesses with lower credit scores.<\/p>\n<\/li><\/ul><\/div>\n\n
Potentially high borrowing costs.<\/p>\n<\/li>
Limited transparency on fees prior to applying.<\/p>\n<\/li>
Loan amounts may not meet the needs of larger businesses.<\/p>\n<\/li><\/ul><\/div>\n\n\n
For small business owners exploring loan options, Fora Financial could be a standout choice. It specializes in quick, direct lending and offers a variety of financing solutions, including merchant cash advances and short-term loans, aimed at helping businesses grow. <\/p>\n\n\n\n
Known for fast funding, clear fee structures, and an uncomplicated qualification process, Fora Financial makes securing necessary capital both accessible and flexible. With funding possible within just a few days and no strict collateral requirements, Fora Financial is well-suited for businesses looking for an efficient financial boost to meet their goals.<\/p>\n\n\n\n
Fast Funding:<\/strong> Access funds within 24 to 72 hours.<\/p>\n<\/li> Flexible Products:<\/strong> Merchant cash advances and short-term loans cater to different needs.<\/p>\n<\/li> No Collateral Required:<\/strong> Loans and advances available without needing collateral.<\/p>\n<\/li> Simple Qualification Process:<\/strong> Transparent fee structure and straightforward qualification criteria.<\/p>\n<\/li><\/ul><\/div>\n\n Higher Costs:<\/strong> Interest rates can reach up to 40%, making borrowing expensive.<\/p>\n<\/li> Revenue Requirement:<\/strong> Minimum of $15,000 monthly gross sales needed to qualify.<\/p>\n<\/li> Origination Fee:<\/strong> Charges between 1% and 4% of the loan amount upfront.<\/p>\n<\/li><\/ul><\/div>\n\n Find the cheapest rate with one click<\/p> OnDeck offers loan options primarily for small- to medium-sized businesses, with a focus on term loans and lines of credit. <\/p>\n\n\n\n OnDeck could be a viable option for businesses in need of quick funding and those who might not meet the stringent requirements of traditional banks. However, the high APRs and additional fees are important factors to consider before proceeding<\/p>\n\n\n\n Quick application and funding process.<\/p>\n<\/li> Minimum credit score requirement of 625.<\/p>\n<\/li> Reports to credit bureaus, aiding in credit building.<\/p>\n<\/li> Offers term loans and lines of credit.<\/p>\n<\/li><\/ul><\/div>\n\n High APRs can be costly.<\/p>\n<\/li> Short repayment terms, up to 24 months.<\/p>\n<\/li> Origination and maintenance fees.<\/p>\n<\/li> Not available to some industries and states.<\/p>\n<\/li><\/ul><\/div>\n\n\nCons:<\/h3>
Compare loans from 79 lenders<\/h3>
OnDeck<\/h2>\n\n\n
Offerings:<\/h3>\n\n\n\n
Term Loans<\/h4>\n\n\n\n
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Lines of Credit<\/h4>\n\n\n\n
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Other Considerations:<\/h3>\n\n\n\n
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Fundbox<\/h2>\n\n\n