An Unsecured Business Loan is based solely on the credit worthiness of the borrower and not supported by property security. The borrower must have an excellent credit rating in order to be approved and the loans attract much higher interest rates due to greater risk for lenders.
Having Trouble Getting an Unsecured Business Loan?
If you’re having trouble getting an unsecured business loan to help grow your business, debtor finance tools such as finance factoring or invoice financing can provide a much quicker and straightforward finance facility. By transferring your current and undisputed invoices to AddCash we can provide you with a fast approval process with the main focus on your Customers ability to pay and not your credit rating. You don’t need any property security and your facility can be approved within 24 hours of receiving a completed application, so you’ll have the cash you need faster.
Factoring a Great Alternative
Whether your credit rating isn’t perfect or you just want a more flexible and shorter term loan with limited risk, finance factoring is a great alternative to more traditional forms of finance that require real estate security for approval. At AddCash we make the process simple by purchasing your outstanding invoices at full value. We provide upfront funding for 70% of the invoices you wish to sell and the remainder, less fees, once the invoiced party has paid.
Unsecured loans can be difficult to get without a good credit rating and interest rates are high. With finance factoring it’s fast to set up and you only pay for what you use. You won’t be tied down to a long term loan and there is no risk to your business. The amount of funding you require is only limited by the value of the invoices you transfer and once the invoices have been paid the business debt has been repaid.
Excellent Source of Cash Flow
If your business is looking for an excellent source of cash flow to help it grow, AddCash Finance can help. We understand the changing demands on business, working capital and the need for flexibility to keep pace with growth. Having access to finance factoring will eliminate the need for Unsecured Business Loans and will not only help to grow your business but also help improve your credit rating.
AddCash is committed to providing quick and flexible finance to give your business the cash flow it needs to grow.
For more information, give us a call at AddCash Finance today.