Time to get serious?

Congratulations! You’ve managed to get your business off the ground and have been quite successful with your initial phase, but now it’s time to move up to the next level and for this, you are going to need some help. You may be in a competitive marketplace and fully understand how important it is to keep ahead of the competition, but you’re worried that the venture could flounder if you don’t get adequate backing.

The good news is that you can apply for an unsecured business loan, with a minimal amount of paperwork or security.

So long as you’ve been in business for at least six months, you’ll be able to raise anywhere between $5,000 and $400,000 on an unsecured basis.

This means that you won’t have to put up collateral such as a home or other property and you won’t need to deal with terms and conditions that could otherwise be very restrictive. Furthermore, you won’t have to hand over control to the lender, in return for your expansion dollars.

To qualify for an unsecured loan, you will need a long-term trading history (of at least six months) and the repayment terms can be negotiated. The quoted rates will be dependent on an analysis of your current business and future needs and based on your gross turnover, the amount of time you’ve been in business and the repayment period requested.