For aspiring entrepreneurs and business-owners with quality products or services, collateral is often essential for launching new ventures or expanding existing ones. However, there are options to help business owners to receive an unsecured business business line of credit with no need for real estate collateral. Freedom comes in the form of unsecured business financing.
Why Choose “Unsecured” Financing?
When small business owners are seeking funds for their businesses, they usually require the money as quickly as possible. Small business owners who seek to use an unsecured business line of credit and unsecured business loans do so for a variety of reasons.
Perhaps a key piece of equipment needs immediate replacement, or your firm has outgrown its startup location and a new headquarters is a must. These financial needs can be funded very quickly due to the fact that National Business Capital as the lender is not underwriting any collateral such as real estate, machinery or equipment.
What is an Unsecured Business Line of Credit, and How Do They Work?
An unsecured business line of credit is a type of loan that is not backed by real estate collateral. This is a precarious loan for traditional lenders including banks, but a low-risk one for the borrower. For those with limited personal or business assets, or those more at risk of foreclosure, unsecured business loans and lines of credit are the ideal choice of financing. Unsecured business credit lines work exactly the same as a regular revolving business line of credit. You get a maximum amount that you can draw any amount from at any time, and repay when and how much you see fit.
What’s the Difference Between Unsecured Business Loans and Lines of Credit?
This is different from an unsecured business loan, as you do not have to use the total amount of capital that you are given. With an unsecured business line of credit, you only pay for exactly the amounts you use. Additionally, instead of fixed payments typical with unsecured business loans, paying back and refueling your unsecured business credit line is extremely flexible – you pay back on your own terms, how you see fit!
Unsecured Business Line of Credit Requirements
To get an unsecured business line of credit, there’s not many things you need to do. Here’s what’s (NOT) required to get one through NBC:
- NO Mininum FICO
- NO Minimum Time in Business
- NO Minimum Annual Revenue
- NO Collateral Required
Get an Unsecured Business Loan/Line of Credit with Bad Credit
To borrow an unsecured business line of credit, you often need to have an excellent credit history. This is not a loan requirement with National Business Capital. Since we are not affected by banking industry restrictions, we can offer many alternative financing options to small business owners.
No matter what your credit history it may be possible for you to obtain an unsecured business loan. Getting an unsecured business line of credit is but one of many options for business owners who apply through National Business Capital.
Choosing National Business Capital means you will have no upfront fees, lightning fast 24-hour approval and efficient service that is delivered with a personal touch. The approval process for unsecured business finance is based on the overall picture; financial setbacks are not grounds for immediate loan disqualification.
How to Apply for Unsecured Business Financing
Fill out our 1-minute application here to get started, or give us a call at (877) 482-3008 for more information on an unsecured business line of credit and unsecured business loans, and to receive answers to your questions about securing an unsecured business line of credit and unsecured business finance.
Why Choose NBC?
National Business Capital seeks to establish long-term financial relationships with each of our clients. We know that to stay in business you must grow your business. And that tomorrow’s success is founded on today’s financial business relationships you can depend on for funding whenever you need to take your enterprise to the next competitive level. National Business Capital’s business lines of credit are flexible, fast and dependable.
If your business could benefit from an unsecured business line of credit, know that we can not only provide the funding you require, but also provide sound and professional business advice you can depend on based on years of experience and millions of dollars lent to small businesses just like yours.