Are you looking for small business loans for startups?
The idea of starting a new business can seem like an overwhelming process. You have a great idea – but they how do you find funding for your startup? There are a few options out there for small business loans just for startups. While a lot of them have requirements that may be difficult to meet, there are also easier options – like the small business startup loans through Rapid Financial Solutions.
Unfortunately, a lot of companies that will offer you a small business loan require that you have a near-perfect credit, which is a huge stumbling block for a lot of new small business owners. If you’re young and looking to finance a small business, you might just not have much credit at all. Furthermore, some companies require you to have a specific credit score or put your house up for collateral.
You might be thinking, “But surely there are some government funding options? They like to encourage business growth, right?” There are, but they don’t work for everyone. Although there are Small Business Administration Loans available through the federal government, by some accounts it is only as few as one in every 200 business owners who actually qualifies for that funding. Furthermore, even if you do qualify, it could take months for you to actually get the money, which makes for a lot of unnecessary waiting time – time that you just might not have to spare.
Another way that some people get loans is by buying a “shelf” corporation. A shelf corporation is a corporation that’s already in existence but not in use. Thus, the company appears to have been around for some time, which can be helpful in acquiring some business loans. However, if you do that you’ll probably need $5,000 up front to purchase the corporation and, even then, you’re still not guaranteed funding.
Some business owners find funding for their small businesses with a sale-leaseback of equipment. These types of loans work by collateralizing things you already have which means that you can typically get them with no money in the bank and with really bad credit. However, that also means that you have to have stuff to collateralize. Thus, if you’re a new small business owner, this option might be completely infeasible.
If all this sounds daunting, there is a simpler option. Not everybody has the collateral or the credit history to get a loan through some of the better known channels. If you come to Rapid Financial Solutions, you don’t have to worry about all that. Here, you can get a small business loan for a startup with just an unsecured business credit card or retirement financing. For the business credit card, you’ll need to provide a credit report and for the retirement rollover you’ll need to have $50,000 or more in a retirement account from a previous employer. For many people, these options are a lot more feasible than some of the other industry standards. Start the business loan process by answering these questions, and Rapid Financial Solutions will take over your case immediately.
We want you to realize your business startup dream and make IT a reality!