Online business is no longer the next big thing…it’s the big thing. Therefore, it seems like it will be easy to find an online line of credit with no paperwork. On the contrary, this is easier said than done.
These days, our entire lives are online. You use the Internet to advertise, connect with customers and build your brand. With all that, an online line of credit with no paperwork should be a piece of cake. The truth is that the issue can be confusing. Learn more to discover the various processes and what your options are.
Is It Possible to Get an Online Line of Credit with No Paperwork?
What good is it to promise a fast small business loan and then bury you under mountains of paperwork? But that’s exactly what most banks do.
In reality, it’s next to impossible for any small business to qualify for a bank line of credit. They expect you to have exceptional credit and be able to prove your business has been successful for several years. Even if by some miracle you can qualify for an online line, you will need to secure it with tons of collateral.
Additionally, banks are notoriously slow. It could take months before you receive any kind of fast business loan from a bank.
You could go to alternative lending institutions for a quick business loan instead. Still, it’s important to choose the right one.
Some say no paperwork because they will insist on you giving them access to sensitive information and business accounts. This leaves you vulnerable to hackers and thieves.
Others require you to scan tons of documents that will take you days just to gather it all together. This might include letters from your accountant, several years’ worth of tax returns and reviewed or audited financials. And then there are those that only work with businesses that have millions of dollars in annual revenue.
Does Anyone Have an Online Line of Credit with No Paperwork to Get the Offer?
While every application for small business financing has some kind of paperwork. The trick is finding the best institution that offers the type of financing you need with the least amount of forms.
For many small businesses, the answer lies with alternative funding companies, like Financing Solutions (www.financingsolutionsnow.com). They will give you an offer before asking for any paperwork or even checking your credit score.
At Financing Solutions, you can begin the process by answering a few questions online. The only paperwork you need to provide will be a few easy to obtain documents. This includes things like a driver’s license and most recent tax return.
Best of all, they are fast. You can get quick business capital in 48 hours or less. This is ideal for making payroll, purchasing supplies or handling emergencies.
How to Grow Your Business with No Hassle
Take care of yourself. This may seem like you are taking the focus away from your business but actually the opposite is true. The better and happier you feel, the more your business will reap the benefits.
Never lose sight of your core values. Stick to your vision and your customers will follow.
Build up a cash reserve. This can be done with an online line of credit from Financing Solutions.