Unsecured Loans

When you apply for a loan or credit, you will have to give something in exchange or as a guaranty to be able to access it—if it is approved as well.

This guaranty is known as collateral and it is what makes lenders sure that you will pay for the loan or credit either by the payments that were agreed or by giving up the collateral that has the same value of the amount requested or asked.

When you are going to apply for a loan, each lender or source has different qualifications and requirements.

Therefore, you need to research and analyze all the information related to each source you are going for or you’re considering applying for a loan.

That being said, there are a few requirements every lender share with the rest:

• Credit score.
• Payment history.
• Debts.

Keeping this in mind, you must work in your credit score and the other aspects before applying for one if you want to get more chances of having it approved.

As for the collateral, unfortunately, most lenders need it or request for one.

This applies to personal loans or credits for small businesses, startups, and companies.

However, most sources do not request collateral from a business that has been running for a while, which is probably the only exception to the rule in some cases.

But for small businesses without credit history or a very short one, collateral is almost 100% necessary. This also applies to personal loans.

The problem with this collateral is that it usually has nothing to do with the business at all but rather with the personal belongings of the owner, like a car or even a house.

This is why you need to make sure that you are either applying for a secured loan you will be able to pay or find a source that offers unsecured loans.

To find unsecured loans you have to research every source you have access to.

In this way, you will determine if it gives options such as giving unsecured loans for different people or businesses. A company that offers such loans is Business Funding Team. Our funding company has been in the field for several years and had helped many entrepreneurs and businesses to access unsecured loans, which has allowed them to start the business and also, keep operating it.

What is an unsecured loan?

It is nothing else than a loan based on the borrower’s word or reliability without collateral or something that is given as a guaranty to the lender—most of the time, belongings of the person requesting the loan. For lenders, it is hard to do such a thing since believing in someone’s word is not simple when it comes to loans and credits. However, you can find a few exceptions in companies and angel investors.

When it comes to banks, not too many of them have unsecured loans among their credit options. Overall, it makes sense that lenders request collateral in those cases, but sometimes, it gets out of control since not all people are willing or can’t give as collateral their belongings. Therefore, going for unsecured loans even if they are not that easy to find is the best option for any entrepreneur and business—also, for personal loans. Just carry out proper research and evaluate all the options you will find to apply for a loan.

Where can you get unsecured loans?

Sources like funding companies are usually the ones who give loans away without needing the borrower to give collateral. Also, your family and friends don’t request for something as a guaranty when lending you the funds you need—at least, not most of the time. Other sources like angel investors, crowdfunding, a few banks, and SBA, don’t request collateral as well.

However, funding companies may be the best option for you and most businesses and entrepreneurs since these companies offer loans of large amounts without needing collateral. That, compared to other sources, it is very advantageous. Our company, Business Funding Team, is a funding company that offers unsecured loans for businesses and people in general.

You can access our credits without having to give collateral and just meeting our requirements and qualifications. What we care about the most when it comes to applying for a loan, is the credit score of the borrower.

However, we allow people to bring a business partner or another person who can help them with this aspect. That being said, feel free to contact our funding company. We have the best loan options for small businesses and none of them require collateral. You only have to fulfill certain requirements and qualifications. However, we are not even too demanding on this.

It probably sounds too good to be true, but we care about entrepreneurs and borrowers since we have been in their shoes before. So, do not hesitate to apply for credits in our business. Even if you do not get your loan approved, we still can offer you other loan options that will not require collateral either.

Yes, with us, you can rest assured that you will access different unsecured loans without problems. Just make sure to read our requirements and do your best to fulfill all of them to make things easier for us and you as well. You can apply for one via our website, it will take you only one or two minutes, but you can also call us and make an appointment to visit our offices and speak with one of us.