Every business needs to access extra cash at times, and sometimes that just means a short-term business loan that can be quickly and easily paid back when it has fulfilled its purpose. The problem is that banks, who are more interested in high-value, low-risk deals, tend to only provide long or medium-term loans that can be far too tying for smaller operations. What’s more, a bank business loan is more often than not secured on an asset of the business owner, for example the business premises, leading to unnecessary stress.
Fortunately, there is now a better way to access unsecured financing: a Merchant Cash Advance (or MCA). MCAs normally work by lending money to business for a fee with repayments made by taking a manageable percentage of business takings. Speed Fund LLC offer an exceptional MCA product which is perfectly tailored for the needs of small and medium-sized enterprises.
Lowering the Bar
One of the problems encountered by a lot of smaller businesses is the strict eligibility requirements that usually go along with MCA unsecured financing. This might include a minimum number of years of trading or a $10,000 or more minimum turnover. Speed Fund has lowered the bar to make it that bit easier for smaller, less established companies to obtain the business loan they need.
First, when lending money to business Speed Fund only insist that you have been trading for three months (yes, that’s months, not years) and that you are turning over at least $6,000 a month. As long as you tick those two boxes (and have no open bankruptcy) you are most likely eligible for unsecured financing from Speed Fund Furthermore, you won’t be kept hanging around for a decision on your business loan as we will let you know very quickly whether you qualify.
Your Business is Your Business
Speed Fund is focused on lending money to business not controlling how businesses operate. Major financial institutions will want to know what you intend to spend your loan on and you will probably need to present a detailed business plan. Speed Fund believes that whatever you need to spend your funds on is your concern. All we need to know is what’s included in the simple ‘Getting to know you’ form on our website. To find out if we can help you with your unsecured financing needs, fill in the form and we will get right back to you.