UNSECURED BUSINESS LOAN

HELLO AND WELCOME TO OUR BI-WEEKLY POST. TODAY’S TOPIC IS HOW

TO RECEIVE AN UNSECURED LOAN AND WHAT EXACTLY IS THE

UNSECURED LOAN.

AN UNSECURED BUSINESS LOAN IS A LOAN THAT REQUIRES

ABSOLUTELY NO COLLATERAL WHATSOEVER. IT IS BASED TOTALLY ON

THE CREDIT OF THE SMALL BUSINESS BORROWER. A SIGNATURE LOAN

IS A PRIME EXAMPLE OF WHAT AN UNSECURED LOAN REALLY IS.

TO QUALIFY FOR AN UNSECURED LOAN YOU MUST HAVE A MINIMUM OF

A 680 FICA SCORE. YOU TYPICALLY RECEIVE TWICE THE AMOUNT OF

WHAT YOUR YEARLY INCOME GENERATES. YOU MUST HAVE INCOME,

ELSEWISE THE LENDER WILL WONDER HOW ON EARTH WILL YOU BE

ABLE TO PAY THE LOAN BACK IF YOUR BUSINESS HAS A SLOW START

RECEIVING IMCOME.YOU MUST ALSO HAVE 2 YEARS TAX RETURNS AND A

VALID STATE ID.

THESE ARE THE REQUIREMENTS FOR GETTING AN UNSECURED LINE OF

CREDIT OR WHAT IS BETTER KNOWN AS AN UNSECURED BUSINESS

LOAN. PLEASE TUNE IN FOR OUR NEXT TOPIC WHICH WILL BE ON HOW

THE CORONAVIRUS IS AFFECTING THE LENDING INSTITUTIONS. THANKS

FOR JOINING. GOD BLESS.