If you’re looking to borrow money for real estate or any other business venture, banks are notoriously picky when it comes to credit, income, and other factors. Rather than scrutinizing your credit score, income, and assets, we offer start-up loans for small businesses based on your property of interest. As a borrower, you will have an easier, more affordable financing solution for start-up loans from Equity Wave Lending.
How to Get Small Business Start-Up Loans
The backbone of the private money lending industry, these loans provide funding for new businesses. Intended for an entity with little or no working capital or a limited history, they provide early funding. There’s little restriction on who can get a loan for business purposes. You can collateralize owner-occupied or non-owner-occupied property.
Alternative funding can be obtained via a faster and easier process. You can start by filling out a loan inquiry on the Equity Wave Lending website. We work with a wide range of property types, which you select via a drop-down menu, and we can offer lending solutions tailored to your personal needs. Available only in California, these loans can provide you with amounts of $50,000 to $2 million within 7-15 days.
Types of New Business Loans
Small business owners often rely on loans to help them get started. In fact, 75 percent of funds used by entrepreneurs come from alternatives to credit card and bank financing, including no credit check loans.1 If your credit is less than ideal, that doesn’t necessarily bar you from approval by traditional lenders, although interest rates will be higher. You can avoid this issue and worries about approval, with start-up business financing options, such as:
- Personal Business Loan: Although you may have little business history and/or no business credit, this type of loan is available to those with strong personal credit and low credit utilization. However, your personal credit will be reviewed in detail, while low funding amounts and increases in personal liability are factors to consider.
- Start-Up Equipment Financing: Does your business require purchasing expensive restaurant, construction, or medical equipment? You can borrow funds that use this equipment as collateral, often at lower interest rates than with other funding options.
- Business Credit Cards: You can use a revolving credit line for purchases, especially if you have stronger personal credit or need revenue to get a small business going. Credit is often used by entrepreneurs with online businesses as well.
- Small Business Administration Loans: An SBA loan, backed by the government, is usually under $50,000. Although there are stringent requirements and application can take longer, it can be an advantage for minorities and disadvantaged entrepreneurs.
The best loan for you depends on your individual needs, the type of business, and the type of property you want to finance. For start-up business loans you can secure quickly, find a lender with a simpler application process, and one that works around your needs. Funding for a business start-up does not have to take long. To get started now, submit a Quick Loan Inquiry Form or call 888-399-8881 to discuss your goals and business funding requirements.