If you need to purchase inventory, pay for marketing, or fund unexpected expenses and other business needs but you’re short on cash, an unsecured small business loan can be the answer.
Even if you have an existing loan already in place, you can still apply for an unsecured small business loan.
Unsecured business loans will allow you to borrow money for your business without security or collateral. Repayments vary since withdrawals can be made daily, weekly, or monthly and can be broken down into small amounts. This type of small business loan usually runs for a term of between three months to one year.
If you are looking for a fast, easy, and innovative type of financing, unsecured small business loans can be a great way to go. However, eBroker only recommends unsecured small business loans for short term cash-flow gaps since this type of loan can be expensive if held for a longer term.
eBroker Top 5 Unsecured business loan lenders | Business Fuel | Get Capital | Spotcap | Moula | Marketlend
Will you qualify for an unsecured small business loan?
eBroker’s partner lenders will examine your cash-flow and/or regular deposits to your account, although invoice payments or debit/credit card transactions can also be considered. The other thing that lenders will check is how much money you have in your account after paying all your business commitments. This will demonstrate show your credit worthiness as a business owner and will be more likely to result in an approval for your unsecured small business loan.