Start-Up Financing and Business Loans
Launching a new business is exciting – but it can be scary, too. Start-ups need capital to get their businesses off the ground, taking care of things like:
- Buying or renting a space for the business
- Hiring staff or consultants
- Acquiring new equipment or supplies
- Building a new website and beginning online marketing
- Creating new products or services
Active Business Loans can help first-time businesses get started in the right direction. These days, it’s virtually impossible for someone who wants to start a business for the first time to get any financing. Banks and financial institutions have been declining start-up loans the last few years because of the record-high number of failed businesses and defaulted loans. The enormous quantity of lending in years past has created a lower amount of money left in the reserve.
Alternatives to Traditional Financing
Unsecured business financing and investment funds are a great alternative to a traditional bank loan. Business lines of credit, business credit cards, and personal credit loans are also options. One of these solutions, or several in combination, can be used for starting a new business.
Active Business Loans teams up with a trusted financial agency for start-up financing. We have financed many first-time entrepreneurs.
Here’s a list of individual requirements for unsecured financing:
- 680+ FICO credit scores
- No bad credit marks within 6 months
- No judgements, collections, or tax liens
- No Bankruptcies reported
- At least $2000 credit line Limited recent credit inquiries
- Reasonable credit debt ratios
Business Credit Cards
- Promotional rates of 0-3% first 3-18 months
- 7.9%-19.9% Regular Annual Percentage Rate
- Rates vary based on economic conditions, market changes, etc.
Business Lines of Credit
A Business Line of Credit is an approved line of credit by the lender allowing the business to draw upon the amount when the need arises. The business can pull the funds as needed and make low weekly payments with a low interest rate. Low amounts are available from $5,000 to $750,000 with no collateral required. Your rate can be locked for 6 months with the first draw as little as $5,000. Approvals take only 3 business days. Interest payments are also tax deductible.
What is a Business Line of Credit used for?
- Equipment Financing
- Opening another location
- Inventory Financing
- Buy out a business partner
- Paying Business taxes
- Better cash flow
- Upgrading computer system
- Paying off debt
Get approved for an Unsecured Business Loan or Line of Credit up to $450,000! Clear here to apply. Fundings in less than a week.
Personal Credit Loans
- Based on credit score and personal income
- Starts at $20,000
- 3,5, and 7-year terms at low interest rates