Looking for a Short Term Business Loan Without Residence as Collateral?
It would be great if business owners could get a short term business loan without residence as collateral. Giving your land and residence as a security for the repayment of a loan is something that should not hinder your ability and willingness to apply for a short term business loan.
Luckily, there are financing companies such as Financing Solutions (www.fundmypayroll.com) that are willing to help.
What Can be Offered as Collateral besides Residence when Applying for a Short Term Business Loan?
Many businesses think that offering a home, commercial building, or property are the only viable options that can be considered as collateral when applying for quick business financing. Thankfully there are many other options that often can be used as collateral such as inventory, equipment, consumer goods, accounts receivables, and even stocks or bonds.
Banks and most alternative lenders often have high barriers and require residence as collateral to meet them. In contrast, a short term business loan without residence as collateral is the number one source of funding that can give your growing company a needed financial boost while giving you the peace of mind from knowing that your residence is not in jeopardy.
Where Can You Get a Short Term Business Loan WITHOUT Offering Residence as Collateral?
It has become a standard for banks to require personal residence when offering a fast business loan to certain companies. Unfortunately, for most companies, giving up your residence as collateral may seem unreasonable. This is especially true when the loan you are asking for is less than 200,000 dollars.
If you are looking for a way to receive short term business funding without residence as collateral there is a company that is willing to help. Financing Solutions is a company that many small businesses trust. They can offer funding without using your residence as collateral.
How Your Company Can Still be Successful Even When You Need Quick Business Financing
Short term business funding can be used when a company may be short on payroll, may need to get a head start on a crucial program, or even pay that unexpected bill. Contrary to the common belief, banks are the last place to go for a short term business loan. Banks often demand a collateral value of nearly 200% of the value of the loan.
It is possible that Financing Solutions may be your best option for fast business financing. Financing Solutions, which is a spot funding company, offers a business cash advance using your receivables as collateral. They have an A+ rating from the Better Business Bureau. Additionally, help businesses like yours receive quick business financing.