Did your bank say no? If so, it might be time to consider an unsecured business loan through Live capital.
Unsecured loans offer plenty of advantages over a traditional secured bank loan and are typically well suited to SMEs with few or no valuable assets. They do not require collateral and are lending criteria is based solely upon the creditworthiness of the borrower.
Unsecured loans are also popular with borrowers for reasons including:
1. Access
Most banks have stringent lending criteria, making it hard for Australian SMEs to access the fast funding they require. Bank loans usually require the business to have been trading for at least 2-3 years and have a reasonably high monthly turnover figure.
Live capital works with a network of premium partners to find the business loan that best suits your business needs. The lending policies of our partners are a lot more straightforward than the banks!
2. No assets required
Traditional lenders like banks usually require assets (personal or business) such as property or equipment to be used as collateral attached to the business loan. These assets are used as security in any instance where you can no longer make loan repayments. This is an extremely risky strategy that can put your future at risk.
Unsecured loans do not require assets to be offered as collateral. You usually borrow money with no assets but at a higher interest rate.
3. Fast application process
Traditional bank loans usually have a complex application process requiring extensive documentation such as business plans, full financial statements and payment history.
Applications through our partners are simple, straightforward and can be completed quickly, saving you undue stress, especially when experiencing slower cash flow. You will usually know within minutes whether your application has been approved and if it has you will usually receive your funds within 1-2 business days.*
4. Flexible repayment terms
Unsecured loans offer greater flexibility and different repayment options. Your repayment period and installments are arranged at the time of taking out the loan. Installments can be weekly, fortnightly or monthly are a deducted from your nominated bank account.
If you recently applied for a traditional business loan and your bank said no, visit our website to see if you qualify for a loan through Live capital.
Did your bank say no? If so, it might be time to consider an unsecured business loan through Live capital.
Unsecured loans offer plenty of advantages over a traditional secured bank loan and are typically well suited to SMEs with few or no valuable assets. They do not require collateral and are lending criteria is based solely upon the creditworthiness of the borrower.
Unsecured loans are also popular with borrowers for reasons including:
1. Access
Most banks have stringent lending criteria, making it hard for Australian SMEs to access the fast funding they require. Bank loans usually require the business to have been trading for at least 2-3 years and have a reasonably high monthly turnover figure.
Live capital works with a network of premium partners to find the business loan that best suits your business needs. The lending policies of our partners are a lot more straightforward than the banks!
2. No assets required
Traditional lenders like banks usually require assets (personal or business) such as property or equipment to be used as collateral attached to the business loan. These assets are used as security in any instance where you can no longer make loan repayments. This is an extremely risky strategy that can put your future at risk.
Unsecured loans do not require assets to be offered as collateral. You usually borrow money with no assets but at a higher interest rate.
3. Fast application process
Traditional bank loans usually have a complex application process requiring extensive documentation such as business plans, full financial statements and payment history.
Applications through our partners are simple, straightforward and can be completed quickly, saving you undue stress, especially when experiencing slower cash flow. You will usually know within minutes whether your application has been approved and if it has you will usually receive your funds within 1-2 business days.*
4. Flexible repayment terms
Unsecured loans offer greater flexibility and different repayment options. Your repayment period and installments are arranged at the time of taking out the loan. Installments can be weekly, fortnightly or monthly are a deducted from your nominated bank account.
If you recently applied for a traditional business loan and your bank said no, visit our website to see if you qualify for a loan through Live capital.
Check to see if you can access funding!