Where to Get a Line of Credit in Minnesota
The world of business is changing and getting a business line of credit in Minnesota is one of the biggest adjustments. Thankfully, you do have options.
What is it Like to Get a Business Line of Credit in Minnesota from a Bank?
In the past, a business owner would go down to the local bank to speak with the bank manager. Then, the bank would offer you a line of credit. They would use your character, standing in the community, and your business as the determining factor. But those days are long gone.
Unless you are working with more than $10 million in yearly sales, local and commercial banks really don’t want to work with you. Even if you are able to find one that will consider you, you will have to have collateral to back up your business line of credit.
Is There an Alternative to Banks for a Business Line of Credit in Minnesota?
Financing Solutions (www.financingsolutionsnow.com) is run by two serial entrepreneurs who understand the problems of a small business owner trying to get a line of credit. This is because they have run into the same issues when dealing with bank while building their own businesses. They know that the process is tedious and almost impossible to achieve success.
So they put together a company to help small businesses with sales above $300,000 per year get lines of credit. And in 2010, Financing Solutions was born. Now they are one of the leading lenders for small business funding in the country.
Financing Solutions is different from other alternative lenders because they require no collateral or no personal guarantees (except in the cases of fraud). Best of all, you get an approval and your money at lightning speed, which is exactly how you need it.
Additionally, Financing Solutions doesn’t charge anything until you actually use your line. This makes it an excellent back up plan for emergencies and new opportunities.
What Do You Need to Get a Business Line of Credit in Minnesota from Financing Solutions
Unlike banks or other lenders, Financing Solutions looks at your business as a whole and the specifics of your industry, in addition to your credit score, to make a decision about giving you a business line of credit in Minnesota. You will receive a written quote to consider, without any paperwork on your part, in a few hours.
If you decide to move forward then Financing Solutions will ask for a few supporting business documents. This includes things like your driver’s license and most recent tax return. Your line will then be set up in 48-72 hours.
Why Financing Solutions is a Better Choice for a Business Line of Credit in Minnesota
The owners of Financing Solutions know that as a small business owner, your time is valuable. In other words, you are too busy running your business to spend all your time getting a business line of credit.
Therefore, Financing Solutions makes it easy to get your business line of credit quickly in place. And the line can stay in place for up to 12 months.
How Business Owners Get What They Need with a Business Line of Credit from Financing Solutions
One of most important things to a business owner is cost. You will be happy to learn that their line of credit is very inexpensive. It costs only $63 per week for every $5,000 you withdraw, and you can pay it back whenever you like. Even better, if you repay the line in 48 hours then there is no cost at all.
Most importantly, they know business owners want straight answers. Consequently, you can speak to the owners (Keith and Stephen) at any time. In fact, on every single business line of credit in Minnesota, you will speak to them before the line is set up. Like in the old days, you can have a relationship with your banker.