The great thing about the SBA Loan is that they are subsidized 80% by the federal government. The lenders available through UnsecuredBizLoan.com help small businesses get into a loan.
United States (PRWEB) September 22, 2009
It's a tough time to get a small business loan says UnsecuredBizLoan.com. Since the fall of the largest banks in the US almost all traditional lenders have tightened their lending practices. Even some of the nontraditional lenders have tightened their standards.
As a result, most banks and credit unions are only lending to those with 720+ credit scores, 20% towards the investment, and 2 years of proven business experience. The Small Business Administration (SBA) has been able to open up the market to new business owners and many existing business owners.
The government has given bailout money for SBA Loans for small businesses to be created or to be grown. The same federal SBA rules apply but it's easier to get a loan of $25,000 for a startup loan. Loans for existing businesses are for $35,000 are very accessible.
"The best way to get an unsecured business loan in this economy is through non conventional lenders -- either a Venture Capitalist or Line of Credit firm. At UnsecuredBizLoan.com we work with many different lenders," explains Daniel Drew owner of UnsecuredBizLoan.com. The three best options for businesses include: SBA Loans, Business Lines of Credit Online, or Business Cash Advance.
Drew tells businesses not to give up or become discouraged. "The great thing about America is that we continually strive to improve ourselves. In this industry I have found that many people are looking for a loan to fund a new business or existing business. Unfortunately, because of the recession and other circumstances most credit scores aren't good enough. For those customers a SBA Loan or Business Cash Advance is there best option," Drew said.
One of the most common myths Drew sees with his customers is that they think it's impossible to get a business loan right now. That simply isn't true. What is true is the amount of loans available at one time is no longer available from most lending institutions. That is why SBA Loans are great. Almost anyone can get one without much scrutiny if their credit is 720 or better.
"The great thing about the SBA Loan is that they are subsidized 80% by the federal government. The lenders available through UnsecuredBizLoan.com help small businesses get into a loan."
UnsecuredBizLoan.com offers Business Lines of Credit Online, Small Business Loans, Unsecured Small Business Loans, Unsecured Business Lines of Credit, and SBA Loans. Soon the company is hoping to offer Business Cash Advance Loans.
"We specialize in any business loan or business line of credit that is unsecured. Meaning that the business loan/line of credit isn't tied to assets. We also specialize in helping businesses get an SBA Loan."