Unsecured Loans

Need small business financing but don’t want to put personal collateral on the line? Unsecured loans can bridge the gap.

Many financial institutions are hesitant to offer loans without having some type of collateral — a car, boat, property, etc. But unsecured loans can provide up to $150,000 in small business financing without personal collateral required from the business owner. What’s more, the funding process is fast — most deals close within three weeks or less.

How do unsecured loans work?

Unsecured loans can be thought of as a small business credit card. They consist of multiple, revolving lines of credit, available from $25,000 – $150,000. The funds can be used for working capital, marketing, payroll, franchise fees, equipment, or for that extra cushion should the need ever arise. There are no use of proceeds requirements.

Rather than relying on collateral to secure the loan, lenders look at the borrower’s creditworthiness to determine eligibility, making those with high credit scores and a solid credit history the best candidates for these small business lines of credit. Because no collateral is required, interest rates for unsecured loans are usually higher compared to SBA loans or other forms of small business financing.

To qualify for an unsecured loan, here’s what you’ll need:

  • 690+ credit score
  • Credit utilization rate below 50 percent
  • Minimal credit inquiries (no more than two per bureau in the last six months)
  • No recent derogatory comments on credit report (bill collectors, late payments, tax liens or judgments, etc.)

If you think you might be a good candidate for an unsecured loan, call 888.472.4455 to speak with one of our financing consultants. In less than five minutes, they can pre-qualify you for a small business line of credit and put you on the fast track to entrepreneurship.

Why choose us?

Our unsecured loan clients secure an average of $104,000 in small business financing over 45 days. We’re experts in helping you access the capital you need to buy and build your small business or franchise. We strive to make the journey to financing as smooth as possible, allowing you to invest your energy in your new venture rather than minute details.