Unsecured Small Business Loans in Australia
- Author Ray Ethell
- Published January 14, 2023
- Word count 517
There are numerous small business owners who are looking for quick business loans and we provide them with that. The generic size of loan that small businesses apply for and easily qualify for is in the vicinity of $15 thousand to $25 thousand, however there are those who require over a $100 thousand and do get it equally easily. We do request all those who apply for the funding to be sure about their requirements.
Banks do not fund small businesses easily any more, and the reason for this is because they find small businesses to be risky investments. As a result of this, their qualification criteria are extremely stringent and due to this over 90% of all small business loan applications are rejected by the banks. We do provide small businesses with the small business funding that they require, and small businesses make up over 75% of all businesses in Australia on an average. The reason we can confidently state that we provide funding to small businesses is because our qualification criteria are very different from those of the banks. Mentioned below here are our qualification criteria, and based on these any small business owner can ascertain for themselves whether they qualify for the funding or not.
The business should be over 12 months old
The business owner should not be in bankruptcy
The business gross income needs to be at least $10 thousand a month or over that
The business needs to be a running business
These are the very simple criteria that we have, which are nothing like the criteria of the banks. Based on these almost every small business can apply for and receive the funding they require. Additional benefits of our simple qualification criteria are also mentioned below here. Credit scores are not a concern with us, and we often work with bad credit scores, the reason for this is because credit scores are not a part of our qualification criteria. Typically, we work with credit scores that are in the low to mid 500s, and we do fund them as well. Banks on the other hand do actually require credit scores that are at least 700s to work with a loan application.
The processing time frames that we have are also very quick, and typically we can provide you with the small business loans within a week to ten days tops. At the earliest we can provide you with the funding within 48 to 72 hours. Banks again cannot do this because of their extensive requirement of documents related to everything and stringent qualification criteria. Another great feature that we have for small business is the fact that we do not require collateral. Collateral is something that we do not require and its not part of our qualification criteria as well. This means that all our funding is unsecured. For more information related to the business capital, contact us.
Our funding team is available from Monday to Friday regular work hours. Also, if you wish to fill in the details on your own, click on the ‘apply now’ tab and fill in your details there which is the same thing.
Ray Ethell offers a wealth of experience to his clients, gained from 20 years in the Finance industry, and prides himself on providing reliable customer focused service. Non Conforming Loans specialise in non bank lending solutions.https://articlebiz.com
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