If you are a new business that is pre revenue, or a young business unable to qualify for a traditional business line of credit this is a great option that is contingent on your personal credit and verifiable income. The loan is cash deposited into your bank account making it perfect for consolidating previous business debts, paying for employees, marketing, education services, products, equipment, and anything else you can pay for in cash/debit.
Qualifications:
- No collateral required
- At least $50k in personal income
- At least a 650 FICO Score
- Rates from 7 to 25% on approved credit