Financing With No Personal Collateral
Many financial institutions are hesitant to offer loans without having some type of collateral — a car, boat, property, etc. But unsecured loans can provide $10,000 – $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 weeks.
How Guidant Can Help
We’re experts in helping you access the capital you need and setting you up for success. The qualification process for unsecured loans is easy to navigate, making it possible to get funding quickly. Our unsecured loan clients get an average of $104,000 in small business financing in less than six weeks.
How to Qualify for an Unsecured Loan
Rather than relying on personal assets such as a car, boat or home to secure the loan, unsecured lenders look exclusively at a borrower’s credit worthiness to determine eligibility, making those with high credit scores and a long, solid credit history the best candidates for an unsecured business line of credit.
Because there’s no collateral requirement, the approval process is quick and straightforward, making unsecured loans a great option for business owners who need funding quickly. To be eligible, you need a minimum 690 credit score, a credit utilization below 50 percent and a clean credit report with minimal inquiries. Unsecured loans are a great fit for borrowers looking to fund a wide range of project sizes, starting at $10,000.
Criteria Summary for Unsecured Loans
Funding Amount
- $10,000-$150,000
- Minimum $10,000
Eligibility
- 690+ credit score
- Credit utilization rate below 50%
- Minimal credit inquiries
- No recent derogatory comments on credit report
Benefits
- No personal collateral needed
- Quick time to fund
Time to Fund
- 3 – 4 weeks
Think you’re a good candidate?
If you think an unsecured loan would be a good fit for your business, give us a call. Our small business funding experts can pre-qualify you in less than 5 minutes and put you on the fast track to entrepreneurship.
Call Us at (888) 472-4455
Small Business Success Stories
Guidant is a perfect vehicle for small businesses to get established. We would not have been able to start the brewery without them.
Suzie & Todd, Noda Brewing Company; Charlotte, NC For husband and wife Todd and Suzie, the key to spending more time together was small business ownership. With Guidant’s help, the couple transformed their long-time home-brew hobby into their dream business.
[Guidant walks] you through the entire process of buying a business. They make sure you are set up for success. You are in business for yourself, but you are not by yourself.
Bohnne, Decorating Den; Nashville, TN After experiencing a series of layoffs, Bohnne was ready for a career makeover. She took control of her future and embarked on an encore career as a business owner.
We wanted to start our business using our 401(k) funds, but we had no idea how to do it. Our friend told us about Guidant Financial, and so we contacted them and had a great experience.
Rand & Janeel, eyeSmith Sport & Fashion Optical; Kansas City, MO After raising eight children, Rand and Janeel were ready to start a new chapter for their family. The couple put their past business experience to good use and tapped into their retirement funds to start an independent eyewear business.
The one piece of advice I would give to entrepreneurs is [to] just go for it … There’s a lot of things you have to think about, but just say ‘yes, I’m going to do it.’
Richard and Jo-Anne The Parsonage Inn; Cape Cod, ME After 30 years in the airline industry, traveling the world and raising five children, Richard and Jo-Anne wanted to tackle a new adventure: business ownership. Guidant helped the couple buy an existing business so they could enjoy being their own boss for once.