Looking for a small business loan that does not involve real estate? Not interested in a home equity line or mortgaging your personal home? Maybe you rent you personal and commercial real properties. There are options to get small loans for existing business owners looking to take advantage of an limited time-frame opportunity where cash is needed in a hurry business, purchasing some equipment to expand the business, even working capital loans or advances are possible.
How do these loans work?
The quickest way to borrow a few thousand up to tens of thousands is to use your accounts receivables as the basis or qualifying factor for the financing. The amount you can get quick access to is based on what you are bringing in. The is reviewed and once you agree to terms your money is funded. Re-payment is deducted from your account a little at a time until the money is repaid.
In some cases these are considered advances on merchant accounts and are not actually a loan. Personal credit is usually not a factor and as long as you have merchant sales history you can get quick results.
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