No Personal Guarantee Loans

One of the biggest problems when it comes to obtaining a bank loan is that lenders will often ask for a personal guarantee or collateral to be put down on the value of the loan. This can range from things like cars to homes, and if your business falls on bad times and is unable to repay the money that’s owed, your personal possessions could come under threat. This is obviously a pretty horrific thought for the majority of people, and if you’re having trouble finding a no personal guarantee loan, why not look into the alternatives that we have on offer?

The application process

We offer a financial product called a merchant cash advance. It’s similar to a loan in the sense that you get the money you need in order to finance your business, but it’s different in many ways too. With a bank loan for example you may well have to pay an application fee, and you may also have to pay a fixed monthly sum back. There’s no application fee when applying for a merchant cash advance though, and you’ll pay back the cash advance on a basis dependent on your sales.

The prerequisites of obtaining a cash advance from us are that you accept credit card payments within your business, and also that you exceed $2,000 per month in sales. The payments will automatically be calculated and automatically taken.

Using the finance

It’s imperative that any form of business finance is used appropriately – whether it’s a merchant cash advance or a loan from the bank. You must make sure that the money is spent where it’s needed; if you took on finance in order to shore up the business it should be used to pay off outstanding invoices or debts. But if you took the finance on in order to help your business grow, you should make sure the money is spent on bringing in new lines of stock, or even expanding into other premises.

No personal guarantee loans are not easy to find nowadays. If you’re unsure as to the longevity of your business or you just don’t like the idea of putting your personal assets on the line – that’s absolutely fine. We’ve got a viable alternative for you in the form of a merchant cash advance, so make sure you get in touch with us, today! Fill out the short application form and one of our representatives will get back to you as soon as possible.

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