Small Business Loans
How much funding does your business require?
Small Business Loans
Businesses may require additional funding from time to time to cover off expenses such as business expansion, equipment or software upgrades and shortfalls in cash flow. Small Business Loans exists in a wide variety of forms to assist with those business finance needs. Besides choosing between unsecured (refer below) and secured loan options (more traditional loan options), there are also a variety of types that a business owner can choose from, including (but not limited to):
Business Line of Credit
Trade Finance
Second Mortgage Loans (secured)
Interest rates charged on Business Loans differ slightly to that of other loans (such as mortgages) in that the rates are calculated based on Lenders' perceived risks associated with the prospects of the business succeeding. Therefore a specified loan rate cannot be provided on-the-spot, and requires careful assessment of the Business and its current trading conditions.
SC Brokers is here to assist your business in achieving its goals. Our dedicated Business Loans team will match available loan options to suit your business' needs, saving you time in comparing products of hundreds of Lenders and ensuring that you are provided with the most favourable interest rates and loan terms possible (based on your business trading conditions).
Unsecured Business Loans
Unsecured Business Loans have become increasingly popular due to its quick approval turnaround time which allows businesses to meet unexpected expenses and bills. As compared to traditional business loans, Unsecured Business Loans also require less documentation during application.
Key Aspects of these loans are:
it has no security
flexible loan term of 3 months to up to 2 years
loan sizes from $5,000 to $100k+
comes in all different types (e.g. line of credit, trade finance)
Most business owners and entrepreneurs prefer Unsecured Business Loans in that no collateral (especially those personal such as private home) is posted, but keep in mind that interest rates and fees on these loans are generally comparatively higher than Secured Business Loans to cover off risks of the Lenders.
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