PESONAL TERM LOANS FOR SMALL BUSINESSES IN BUFFALO, NEW YORK
Fundwise Capital specializes in obtaining no interest business loans for your small business in Buffalo, New York. Startups especially benefit from this as there are fewer hoops to jump through to qualify. Fundwise Capital can help you leverage your good personal credit score to qualify for these creative loan solutions. Business owners that have been standing on their feet for several years can also qualify for these interest free small business loans. There are lenders who are capable of offering the kind of loan you need to move forward with your business. There are credit cards that can be obtained that have 0% interest for a period of time.
\What would you do with the loan of your dreams that accrued no interest while it was being used for 6 months, 12 months, even a year and a half? How far ahead could your business model fly? Do you have clients with their own businesses who can benefit from this as well? Why not apply now for your no obligation phone call and get that ball rolling? Don’t waste time running from lender to lender and trying to fit their pre-qualifications. The team at Fundwise Capital has a network set up and a huge knowledge base of where to look for the best loan solutions for you.
No interest business loans are enticing but not all business owners will qualify. If you’re credit isn’t quite as good as it could be, there are still other options. Business funding is still available to you. Did you know your business itself has a credit score? Fundwise Capital can help you leverage it to your advantage. Even with qualifying for an interest-free small business loan, sometimes you need more than what you get. If the amount you qualify for isn’t quite enough, other loan options are available to you.
Traditional options for loans include personal term loans and lines of credit. Although Fundwise Capital has creative solutions for obtaining loans, these traditional avenues are also in their wheel house. A good credit score is always a requirement. A score of 650 and above will take you far in your search. Other requirements are statements for at least 2 years of tax returns (or W2 if self-employed) and a total of $50,000 in annual income. The income requirement can be just from your personal business, or combined from earnings through another job as well.
Personal term loans and lines of credit have other conditions for approval. A business owner’s debt to income ratio must be less than 50% to qualify. This means that the amount of bills to be paid is less than 50% of the revenue coming in. These loans can have competitive interest rates, as low as 7%, running from 3-7 years. As in other options, these loans are largely unsecured. No need to worry about what you will put forward as capital. The one sticky spot can be credit card debt. Running a business is expensive. One way to compromise between the cash you have on hand and the amounts needed is to use business credit cards.
Maxed out cards, even though payments are being appropriately, create a hardship on your credit score. A smaller personal term loan can be used to transfer this debt, with a much lower interest rate to boot. Then a larger loan can be acquired. Unfortunately, in some cases, credit card debt can be a barrier against getting a term loan at all. In these situations, Fundwise Capital has the next best answer for you. Bridge loans are available to help you sail through this requirement. Once approved, these types of loans will help you transfer over your credit card debt.
With that out of the way, now you can apply for a personal term loan, switch the debt from the short bridge loan to a larger personal term loan that has a longer payment period, and have the remaining loan amount to use. Daunted by all this talk of loan application? That can be several applications to fill out! No need to worry, Fundwise Capital has you covered. Apply once through them, and they will take care of all other applications that are needed in your interests. Even if straightforward, paperwork can be tedious to go through. Don’t waste your time entering basic information over and over, let the team at Fundwise Capital take care of that for you.
Proving a profitable business is one piece of the puzzle, but the loan you can acquire can come unsecured. Many businesses have assets that can help with the loan process. Traditional lenders often need collateral to trust the repayment of the loan given. Business owners with a building, a care, or even expensive machinery have something to offer in this way. However, it can be an added stress knowing these assets are at stake, and they can only be leveraged so much. Furthermore, some assets depreciate with time, so it can still be hard to qualify for a secured loan. Fundwise Capital knows where to go and how to negotiate to get your loan unsecured. If your business is already struggling, this can be a great thing for you. No fear of figuring out what high ticket item may be in your possession that can be set against a loan.
Fundwise Capital can negotiate several loans on your behalf depending on your unique circumstances and requirements. The key is a good personal credit score, or business credit score. Most people don’t realize their business entity has its own score. Bills racked up on the business and payments made to venders are some examples of transactions that contribute to this score. As such, this offers more options for business funding. Fundwise Capital has creativity in finding no interest small business loans, but also experience with personal term loans and lines of credit. Bridge loans are an area not many lenders have as an option, but is another loan available to you through your team. Equipment financing is also available.