secured Business Loans by Excel Capital
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Secured Business Loans

Good Credit/Less Than Perfect Credit Secured Business Loans

Are you having a difficult time getting your business start-up off the ground due to a lack of working capital? Do you face the prospect of denial after denial for a business loan from traditional lenders because of less than perfect credit? Does a past bankruptcy hurt your ability to obtain traditional business loans? If the answer is yes, then you need to take a look at alternative financing programs designed to help small business owners and start-ups in need of capital.

A Closer Look at Traditional Secured Business Loans

Traditional banks offer loan programs to entrepreneurs who need start-up capital for their venture. Since start-up companies do not hold many assets, banks offer secured business loans. The loan programs do not require entrepreneurs to put any of their own collateral on the line to secure the necessary financing needed to start a business. Therefore, most new companies do not face the fear of losing precious assets in case they cannot repay the loan. The popularity of secured business loans continues to rise because of the no personal collateral requirement.

However, banks that offer unsecured business loans place strict guidelines on the programs because they take on most of the risk. Seecured loans from traditional banks require far more paperwork than alternative financing loans, even though there is no equipment, real estate or accounts receivable to underwrite. Approval times can take months, and most start-ups don’t have that kind of time when they are trying to launch their new business. Unsecured business loans from banks require flawless personal credit and a proven ability to repay debt. Therefore, entrepreneurs who have less than stellar credit do not qualify for start-up financing from traditional banks.

Less Than Perfect Credit Secured Business Loans

Unfortunately, some entrepreneurs and business owners develop a poor credit profile over time. For the most part, less than perfect credit does not reflect an inability to manage money. Many unforeseen circumstances arise which prevents business owners from paying their bills on time. The great recession of 2008 proves just how much an economic downturn affects a business and their credit. An secured business loan for less than perfect credit is the only option.

However, quality less than perfect credit business loans do exist. Numerous alternative financing programs allow borrowers to secure financing with no personal collateral requirement and less than perfect credit. The loan requirements are flexible with no minimum credit scores and affordable up-front fees. Most start-ups and small business owners who apply only need to demonstrate an ability to generate cash flow.

See what your business qualifies for

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