Are you one of many small business owners with problems accessing business financing? Do you want to invest in your team or your employees, but do not have the necessary funds for it? Or your team needs to be replace it, but your budget does not cover it? If so, an easy commercial loan can be useful to cover all the financial difficulties of your business.
You will probably be shaking your head now and thinking about the endless visits to the bank, the loading of documents and the exhausting process of getting a loan.
But wait! An easy commercial loan is something completely different.
Forget your skepticism and continue reading this article because you will discover how easy it is to obtain a commercial loan, in simple terms and without a financial language and difficult to understand. In addition, you will learn directly and honestly the advantages and disadvantages of this type of commercial loans. You will be able to understand what types of business loans are easy and which one best suits your business. Finally, you will get an economic solution to access the necessary funds and grow your business.
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Easy business loans represent a type of fast business loan and within your reach. In other words, they involve an agile and easy loan process that translates into greater possibilities of being qualified for a commercial loan.
Unlike the loan process with traditional lenders, these require less paperwork. The application process is quite simple and with detailed instructions. Everything can be done online with just a couple of clicks. This loan application usually includes a questionnaire about the desired loan, your personal data and information about your company. Therefore, you will not need a financial expert and lots of documents: you can do it all yourself in a heartbeat and without problems.
The next step is approval. Once a commercial lender receives your application, it will be approved in a couple of days if you are qualified to get an easy commercial loan. The approval period is very short, but you will have enough time to plan your activities based on the new working capital.
The last step is financing. After receiving and approving your loan application, it is time to get your business loan easy. It usually takes 1 to 3 days until you receive your funds.
It seems really easy and accessible, right? It is not surprising that these loans are called “easy.”
If you are considering getting a small business loan, you should familiarize yourself with some terms that you will find during the process. This way, you will be more prepared and the whole process will run smoothly.
|Loan Amount||The amount of money the borrower is required to return to the lender.|
|Return time||The period of time necessary to repay the entire loan.|
|Payment frequency||The frequency with which you must repay a specific amount of the loan, during a certain period of time. It is usually daily, weekly or monthly.|
|Interest rates||The cost of borrowing money expressed in a percentage of the total loan amount. It varies in each lender.|
|Requirements||The conditions you must meet to obtain a commercial loan. They are based on a personal credit score, the time that your company has been operating and the monthly or annual earnings.|
|Time to receive funds||The period of time necessary to receive the funds once you have signed the commercial loan agreement.|
Advantages of easy business loans
- Flexible criteria to obtain commercial loans. Minimum requirements, such as minimum credit rating, minimum business income and business history, without a specific type of guarantee. Therefore, you can easily qualify to access capital.
- Simple and fast loan application process. Easy online application with a few clicks and response in 24 hours. No more paperwork charges and months of waiting until you get an answer.
- Fast financing in just a couple of days. You should not worry about receiving the money soon.
Disadvantages of easy business loans
- High interest rates. That’s why you should choose your commercial lender carefully because not everyone offers the same interest rates.
- There may be some fines for prepayment or hidden fees.
Are you worried about high interests? Look at these 5 ways to know if your loan interest is fair.
Types of easy commercial loans
In addition, it is convenient that you know what types of easy commercial loans exist so you can explore all the options and choose the best solution for your company.
The cash advance loan for merchants is a quick form of short-term financing for small business owners.
Qualification: personal credit score over 400, at least 5 months of business history and at least $ 75,000 in annual income.
It is convenient for businesses with abundant credit card transactions (retail, restaurant and service companies).
The short-term loan is another quick way to guarantee the necessary commercial capital.
Qualification: a personal credit score of 550 or higher, at least one year of business history and at least $ 100,000 in income.
Payment frequency: daily or weekly.
Accounts receivable financing involves the sale of your accounts receivable to a third party to receive a short-term commercial loan in return.
Qualification: $ 25,000 or more in monthly income.
It is convenient for companies with net payment terms.
Factoring financing is a convenient way to handle the payment of overdue invoices and obtain funds in the form of a percentage on the invoice.
Qualification: at least 3 months of business history and at least $ 50,000 in annual income
Do not feel intimidated with all these options. The right business lender will worry about your company and carefully consider all your options, to find the solution that suits you.
The best easy commercial loans in the market
Speaking of the right commercial lender, Afirito Financial offers you the best rates and terms available when it comes to easy business loans. And that’s not all:
- Reasonable interest rates make Afirito Financial is the most affordable on the market in this category solution.
- Monthly payments instead of daily or weekly payments.
- More time to pay your commercial loan: from 24 to 60 months.
- Increase your business credit and guarantee a perfect graduation to more long-term and less expensive capital because we want you to achieve success and we want to grow together.
- Free benefits, such as financial consultations, workshops and discounts on commercial products and services.
Therefore, dedicate your time and effort to building a relationship with a reputable lender such as Afirito FInancial, which offers you all the advantages and convenience of easy business loans.