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.

Unsecured Financing

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

• Business Growth up to $200,000
• Only pay interest on funds you use
• Does not hurt personal credit
• Easy to qualify
• 2-day approvals
• Funding as fast as 10 days

Personal Credit Loans

• Based on credit score and personal income
• Starts at $20,000
• 3,5, and 7-year terms at low interest rates