Myths About Small Business Loans:
Part two: “Working Capital is only for subprime borrowers.”
False. Many borrowers who can qualify for bank loans still turn to FastLoans to get working capital quickly and conveniently. A study by the Corporation For Enterprise Development (CFED) last year stated that 56% of consumers had subprime credit scores, but traditional means of obtaining a small business loan can be a hassle and can take a very long time.
When money and working capital are needed quickly to expand a business, or to obtain better equipment for an upcoming project, waiting around for the traditional process to run its course of 60, 90 or more days can be a detriment to the goals set for the business. It is also important to realize that FastLoans business loans include a broad category that encompasses many different types of loan products.
This leaves room for questions and misconceptions. Just remember that even though the online small business loan industry is new and evolving, it doesn’t mean that one can’t get a satisfying annual percentage rate. Especially if where great credit history is in play to reduce risk!
Regardless of credit score; at FastLoans we strive to give our borrowers the best advantage they can have to get the capital they need fast and with options to help them pay off loans quickly and flexibly. It’s what makes sense to us, because later on when you are expanding your business even faster and can’t, or don’t want to wait around for traditional means to give you the green light… you think of us and how easy it was to grow your business the first time around. Give us a call today and learn more about small business loans and working capital solutions for your growing business!
FastLoans.capital assists small businesses with small business loans in all 50 states with a specific focus on the following cities: Denver, Phoenix, Atlanta, Jacksonville, Charlotte, Seattle, San Francisco, Los Angeles, San Diego, Austin, Dallas/Fort Worth, Houston, Oklahoma City, Portland, San Antonio, Chicago, New York, Boston, Baltimore, Miami, Tampa, Tucson, Albuquerque, Philadelphia.